Nine Croatian companies in the lists of TOP 100 largest enterprises in SEECE

In seventh place is INA, which is the most powerful company from Croatia in terms of revenue at EUR 4.6 billion, up 57% from a year earlier.

The list also includes Prvo Plinarsko Društvo, Hrvatska Elektroprivreda, MVM CEEenergy, Konzum Plus, HEP-Proizvodnja, MET Croatia Energy Trade, Petrol and Lidl Hrvatska.

SEE TOP 100 is an annual ranking of the largest companies in Southeast Europe by total revenue for 2022. The publication includes companies from 10 countries and also ranks the region's leading banks and insurance companies.

Romania's largest oil and gas producer OMV Petrom, controlled by Austrian giant OMV, has retained its position as the most powerful company in southeastern Europe for the second year in a row. Its turnover doubled to €13.4 billion and profits more than tripled to €2.1 billion.

The energy sector completely dominates the list of last year's top performers as the global energy crisis, triggered by geopolitical tensions and war in Ukraine, led to a global spike in energy prices and record high profits for energy companies.

Of all 100 companies ranked, 26 are oil and gas companies and 12 are power companies.

The total revenue of companies in the oil and gas sector has almost doubled since 2021 to €87 billion, representing 39% of the total revenue of all companies on the list. Total profits of oil and gas companies also more than doubled, despite excess profits taxes and fuel price restrictions imposed by some governments in the region.

Total turnover of electricity companies rose 85% last year to €44.7 billion, making it the second largest sector in the region, displacing the wholesale and retail sector.

Despite uncertainty, supply issues, rising energy prices and high inflation, the top 100 companies in Southeast Europe ended 2022 with total revenues of €223.9 billion, 46% higher than the total revenues of the ranking participants a year earlier. Profit reached 10.3 billion euros, up 61% from a year earlier, the SEE TOP 100 shows.

The SEE TOP 100 ranking is available for download at this link. SEE TOP 100 - methodological explanations.

The SEE TOP 100 ranks the largest companies in the Southeast by total revenue for the fiscal year that ended December 31. Data for 2022 and 2021 are from annual unconsolidated reports. The SEE TOP 100 ranking includes non-credit companies registered in Albania, Bosnia and Herzegovina, Bulgaria, Montenegro, Croatia, Moldova, Romania, Northern Macedonia, Slovenia and Serbia. Banks, investment intermediaries, insurance companies and real estate investment trusts (REITs) are excluded from the rankings because total return is not an accurate measure of their performance. At the same time, holding companies are represented in the rating through their affiliated divisions. All data is sourced from national trade registries, exchanges, government and corporate websites, industry regulators, local business information providers and the companies themselves.