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Almost 40 Slovak companies rank in TOP 500

AS MANY as 39 companies from Slovakia have made it into the CEE TOP 500 companies of central and eastern European regions, composed by Coface.

Illustrative stock photo(Source: SITA)

One company in Slovakia, the Slovak arm of the German carmaker Volkswagen Slovakia, is among TOP 10 companies where it is placed 10th, while another carmaker, Kia Motors Slovakia, and the Slovnaft refinery were listed in the top 20 companies, the TASR newswire reported based on the ranking. 

“Our three biggest companies have confirmed that they belong among top 20 main players in the region,” Juraj Janči, general director of Coface Slovensko said when commenting on the ranking. “This is despite a drop in sales of Volkswagen as well as Slovnaft due to a fall in oil prices, drop in car sales on developing markets like Russia and China and a continuing fall in sales of new cars in Western Europe.”

Coface, a globally operating credit insurer,   has been compiling the ranking since 2009 based on company turnover. Due to the conflict and problems to get relevant data, it excluded Ukraine from the ranking for 2014. The current ranking consists of 12 countries (Poland, Hungary, the Czech Republic, Slovakia, Romania, Bulgaria, Slovenia, Croatia, Serbia, Latvia, Lithuania and Estonia).

With the number of 39 companies that produced an aggregate turnover of €45.649 billion and profit of €2.155 billion, Slovakia ended up among the quintuple of countries with the highest number of companies in the ranking.

The number of companies Slovakia has in the TOP 500 ranking increased by two compared with the previous year, while it is a company from Slovakia which tops the ranking in leaping forward when the increase in turnover is taken into consideration. Okte, which organises and evaluates the organised short term cross border electricity market and provides clearing of imbalances in Slovakia, nearly triples its turnover, up 267.9 percent.

“The change of the legislation considerably helped this company,” said Janči, adding that it will be interesting to observe its further development. Currently it holds the 172nd position. 

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