17 Bulgarian Companies Rank in Coface CEE Top 500
17 Bulgarian companies rank again in the Coface’s list of the biggest companies in Central and Eastern Europe for 2017 – CEE Top 500.
The total turnover of the Bulgarian companies included in the ranking of the international credit insurer reached EUR 18.552 billion, which is an increase of some EUR 2 billion compared to the year before. Their net profit totaled EUR 724 million, which is about 2.5 times more compared to 2016.
The leader among the Bulgarian companies is still the Bulgarian Energy Holding, which ranked 29th, compared to the 25th position a year ago. Second comes Lukoil Neftochim which is going faster and faster upwards, moving from 44th to 35th position in 2017. Third is Aurubis Bulgaria, which also marks a big jump in positions, climbing from 77th to 43th. The other companies ranked in the top 10 of the biggest Bulgarian companies are NEK, Lukoil Bulgaria, Kaufland Bulgaria, Advance Properties, CEZ Electro Bulgaria, Bulgargas and Saksa.
Coface’s analysis shows a strong and expanding region in Central and Eastern Europe with declining risks in 2017, which results in higher revenue of EUR 652 billion (+ 11.8% on an annual basis). In addition, an increased profitability was also reported, with a net profit rise of 16.2% for the 500 largest companies in the region.
According to the tenth consecutive report of Coface, Bulgaria is among the countries with an improved risk assessment, which for the past year reached the A4 level, and for the business climate in Bulgaria – A3, compared to A4 in 2016.
In addition to Bulgaria, other countries with improved credit risk in the region are Estonia, Hungary, the Czech Republic, Russia and Latvia. Only Croatia remains with a very high defaulting risk.
