Now at its tenth edition, the yearbook captured the biggest transformations in the local economy, the change of leaders and major leaps in the business world and covered the first generation of entrepreneurs of Romania, which is sending representatives towards the first billion euros.
In 2005, Renault-owned Automobile Dacia was only fifth among the largest companies in the economy with 4.3 billion lei (almost EUR1 billion) in revenue. Ten years later, the business of the carmaker stopped short of RON19 billion, following a 339,000-car output, 90% of which exported.
Dacia is also the largest exporter in the local economy and the only industrial business in the top five. Ten years ago, the top five held another industrial business, the steel mill in Galati held by Indian billionaire Lakshmi Mittal, whose revenue stood at RON6.3 billion at the time.
Romanian entrepreneurial businesses had one representative among the top five, Rompetrol Rafinare (Petromidia), of late Dinu Patriciu. Petromidia still ranks third after a decade, but this time its owner is KazMunayGas.
No other Romanian entrepreneurial business has been able to match Rompetrol’s size yet. The largest entrepreneur-owned business in 2014 was do-it-yourself retailer Dedeman Bacau of brothers Dragos and Adrian Paval, whose revenue stood at RON3.4 billion. The retailer is aiming for one billion euros, as announced.
Dacia, OMV Petrom and Rompetrol Rafinare remain the constants of the ten years reflected in the ten editions of “Key players in the economy”, while ArcelorMittal Galati saw its revenue halve, dropping to 15-25. Food retail remains strong, though wholesale and retail traded places, with the latter (Kaufland) overtaking the former (Metro Cash & Carry).
In ten years, the total revenue of the companies in Romania doubled to RON1,130 billion, after three outstanding years (2006-2008), followed by seven fluctuating years, without any spectacular decreases or increases. The average exchange rate was 3.62 lei to one euro in 2005 and 4.44 lei to one euro in 2014.
(English version by Loredana Fratila-Cristescu)