Tiberiu Moisă: Large companies are growing as a share of the economy
20 March 2023 Reading time 2:00 minutes
The Top 1,000 largest companies in Romania, produced by Ziarul Financiar and Deloitte, was launched on 17 March this year at a dedicated event. The evolution of the companies in this ranking depends on the 1 million people who work for them, but also on the entire ecosystem of customers, suppliers and partners.
Tiberiu Moisă, Deputy Director General of Midcorporate & SME, said the following at the launch of the ranking:
- It is time to start adding value to economic growth. I think we have the opportunity to scale up in the coming period, and if on that scaling up comes more added value, if we know the sectors where we have the opportunity to add value, let there be more than growth.
- Romanian society is like a company. We've shown this growth potential and it's time to grow smart.
- If you look closely, large companies are growing as a share of the total economy. SMEs are the aspirational part - some of them even make it to the top, come from the bottom, it's a potential for the economy.
- The top 1,000 companies account for 46% of total turnover (up from 44% the previous year) and 25% of profits.
- It was based on the turnover of companies, which in 2021 reached almost 960 billion lei (about 195 billion euros), compared to a turnover per total economy of over 2,000 billion lei.
- The higher the quality of management in the companies in this top list, the better the Romanian economy will perform, the more value it will provide and the better it will be able to remunerate its shareholders and employees.
- Two-thirds of the turnover in this ranking is accounted for by six sectors: wholesale trade, retail trade, automotive manufacturing, fuel trading, motor trade and oil and gas extraction.
- Agribusiness firms were also up strongly in 2021, given a favourable agricultural year. Local agribusiness, if it manages to add more value beyond simply growing grain, will be another source of Top 1,000 candidate companies for years to come.
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