Energy was the most profitable business for Romanian companies last year, as the players in the top 300 most profitable companies operating in this sector made 9.4 billion lei (EUR2 billion) profit together, almost five times higher than the cumulated profit of the second most profitable sector, according to ZF’s calculations based on Trade Registry data. Second and third most profitable were industry and construction, with RON2.3 billion and RON2 billion in profits.
The overall leader of the energy sector is OMV Petrom (SNP.RO), the largest company in Romania, which posted a record profit of about RON3.7 billion in 2011. The company, controlled by Austria’s OMV group has been run by Mariana Gheorghe since 2006 and continues the restructuring process that started after its privatization, while boosting profit at the same time.
The leader among industrial companies is chemical fertilizer maker Azomures, with RON365.2 million net income and RON1.6 billion revenue in 2011. The company was privatized to a group of Turkish investors in 1998. Azomures changed hands in early 2011, going to Swiss-owned Ameropa Holding, one of the largest agricultural products traders in Europe.
The top construction company is Enka Construction and Development BV Amsterdam, Bechtel’ main subcontractor for the building of the Transylvania highway. According to Finance Ministry data, Enka recorded RON104.8 million turnover, RON 441.2 million revenue and RON257.4 million net profit in 2011. In other words, the profit margin of this company was 245%.
It had 3 employees on the average from 2007 through 2010 and the net profit margin in 2010 was 8.6% close to the market average. Romania’s national company in charge of highways and national roads CNADNR terminated the contract with Bechtel for the Transylvania highway in the summer of 2011 and therefore the US company is now only working on the Suplacu de Barcau-Bors section.
Cold cuts producer Principal Company based in Buzau (SE Romania) recorded RON280 million net income and had 251 employees last year. It was the highest profit in its sector (agriculture/foods).
The company is controlled by the Dobronauteanu brothers, who also own winemaker Murfatlar and has been insolvent for over two years.
Last among the most profitable sectors of the economy were IT, insurance and real estate, with IBM Romania, Astra and Floreasca City Center as market leaders.
The ranking does not include media and sports, as only three companies in the two fields made it into the top 300, that is Ringier Romania, Monitorul Oficial (which publishes the journal by the same name that translates as “The Official Gazette”) and Steaua Bucharest sports club. (EUR1=RON4.5693)
(English version by Loredana Fratila-Cristescu)