The top performers in 2014 were energy companies again, led by OMV Petrom, which ended the year with RON1.8 billion net profit, down 62% on the previous year. The decline in the oil price and the problems with the power plant in Brazi helped the second leading profit maker, the country’s largest natural gas producer Romgaz, narrow the gap to Petrom. They are only about RON430 million apart compared with almost RON4 billion the year before.
Fondul Proprietatea (FP.RO) posted the third highest profit and the top three companies were the only ones that posted net profit above RON1 billion. Moreover, their net profit margin stands at 11% to 55%, while the margin of the entire economy (which takes into account both companies in the red and companies in the black) is only 2.5%.
The top 20 profit makers in Romania posted RON11.8 billion net profit last year, slightly lower (3%) than in 2013. The significant decline in OMV Petrom’s profit caused the decline of the overall profits of the champions of the Romanian economy. Only four other companies among the top 20, Orange Romania (telecom), GDF Suez (energy), British American Tobacco (cigarettes) and Holzindustrie Schweighofer (wood) posted lower income in 2014 compared with the previous year, but the decline was not as significant as to influence the total.
The top 20 ranking includes six energy companies and two automotive companies. Multinationals and state-run giants like Romgaz and CNADNR (Romania’s national company in charge of highways and national roads) dominate and only one entrepreneurial business, Dedeman, was profitable enough to join them.
Dedeman ranked 12th with RON415 million profit, almost 45% higher than in 2013. It was also the retailer with the highest profit, beating Kaufland, whose profit was only RON6 million lower.
The total net profit of the companies in Romania stood at RON64.4 billion, while the total losses stood at more than RON45 billion. Local companies’ revenue amounted to RON1,160 billion.
(English version by Loredana Fratila-Cristescu)