The four Romanian companies are Vola.ro Student Adventure (ranked 13), TeamNet International (64), CRYS Computers (333), and Fortech (497).
The annual ranking includes the fastest growing public and private technology, media, telecommunications, life sciences and clean technology companies from 24 countries in EMEA. The top is based on companies’ five-year revenue growth.
For this competition Romania had six candidates (finalists in the Deloitte Central Europe Technology Fast 50). Four qualified based on growth rates reported between 2006 and 2010, and revenues in 2010: Vola.ro Student Adventure S.R.L. (Bucharest, with a 6,219% growth), TeamNet International S.A. (Bucharest, +2,136%), Crys Computers S.R.L. (Bucharest, +501%) and Fortech S.R.L. (Cluj Napoca, +313.4%), audit, tax, consulting, and financial advisory company Deloitte said in a press release.
Entrants to the ranking must have been in business at least five years and have had base-year operating revenues of at least EUR50,000 and current year operating revenues of at least EUR800,000.
The leader of the 2011 edition is Turkish-based Logic Bilisim, an Internet company that saw more than 28,617% growth in revenues over the last five years.
“Despite global markets uncertainty, the ranking this year shows an increased average five-year growth rate from 14,027% to 20,401% for the first five ranked companies, and from 1,192% to 1,287% for the overall ranking. Percentages get closer to growth rates reported in 2009 (24,068% for the first five ranked companies, and 1,470% for the entire ranking, respectively),” the release states.
France still dominates the ranking with the largest number of finalists – 93, followed by the UK with 86. However, UK-based companies dominate top 10, with five players. With an equal number of representatives, Finland and Germany share the 7th place, while Israel and Ireland follow on the 9th and 10th place.
Software applications still dominate the top with a 40% share (202 companies); the ranking continues with Internet companies (a total of 101 players; 20%), Telecommunications/ Networking (16%), Semiconductors/Components/ Electronics (8%), Biotech/Pharmaceutical/Medical Equipment (6%), Greentech (4%), Computers/Peripherals (3%) and Media/Entertainment (also with 3%).
“Compared to 2010, when the top 10 ranking was dominated by software developers, this year Internet companies occupy 5 of the first 10 positions, and 20 out of the first 50. Additionally, the Greentech sector continued to grow and is represented by 20 companies this year, compared to 14 in 2010,” the release states.