Croatia’s INA continues to be the most valuable company in the region, with a market capitalisation of 3.8 billion euro.
As Poslovni Dnevnik/Saša Paparellaša Paparella writes on the 20th of February, 2018, among the ten most profitable companies of Southeast Europe, lie three Croatian ones. According to the Seenews Top 100 2017 report, HEP is in sixth place, HT is in seventh and Pliva is in ninth.
During 2016, HEP had a return on revenue of 15 percent, HT 14.8 percent, and Pliva 13.1 percent. The top three places for profitability were taken by companies from Romania, with a total of six on the list, and Telekom Srbija is also on the list.
HEP increased its exports
One year earlier, Croatia’s HEP found itself in 21st place. “Revenues from electricity sales outside of Croatia have increased significantly compared to 2015 due to higher exports of electricity surpluses produced in HEP plants and higher volumes of customer supply within the region,” HEP stated to Poslovni Dnevnik.
Zagrebačka banka is third when it comes to value
For the second year in a row, Zagrebačka banka has been declared the most valuable company in Southeast Europe. According to the quoted report, INA’s market capitalisation stood at 3.8 billion euro, the second being the Romanian OMV Petro and the third Zagrebačka banka (2.3 billion euro), which lay in the eighth place one year earlier. HT is now at the eighth place, worth 1.8 billion euro. Adris is at 14th place in Southeast Europe, Janaf at 16th, and Valamar at 18th. By total revenue, INA was eighth in the region, HEP was 24th, HEP-ODS 42nd and HT 49th.
“Despite the rather unstable situation on the global petroleum product market, we believe that the INA Group will continue to do business successfully. We’re continuing to expand our business in the region, invest in research and production projects with the aim of restoring hydrocarbon reserves, invest in the retail network and in product and service development We’re focused on the heavy refinery processing facilities project at the Rijeka Oil Refinery, worth about 3 billion kuna, which represents the future of our refinery business,” stated INA.
Although on the list of the most valuable companies it managed to jump to an impressive third place, on the list of banks, Zagrebačka banka, with a stake of 13.9 billion euro, fell from first to second place. First place is now enjoyed by Banca Comerciala Romana, with an active 14.1 billion euro. Fifth place is still held by PBZ (9.5 billion euro), the eighth is held by Erste (7.4 billion euro), RBA sits at 17th place, Splitska banka is 19th, and Addiko has dropped from 21st to 28th position. Croatia Osiguranje fell from second to third place, superseded by Zavarovalnica Sava, which jumped from fifth place. In first place sits yet another Slovenian representative, Triglav Insurance.
