24 August 2009
Top 5 most profitable companies in 2008
The recession has dramatically changed business fundamentals across the globe, and threw up new names in the top most profitable companies in Romania. The long-term leader that dominated all profit rankings over the past few years, Petrom, was knocked off by the telecom’s No1 player – Orange. Wall-Street identified the most profitable companies, by their 2008 profit data posted on the website of the Ministry of Finances.
5. Lafarge - 163. 9 million euro earnings
Sales rose 12.5% in 2008, up to 370 million euros in the period under review. In 2007, the construction material supplier posted sales of 324 million euros.
Early last year, Lafarge said it earmarked 140 million euros spread over the next 5 years, both in the enhancement of cement production capacity in Romania as well as in environmental protection measures, according to industrial manager of Lafarge Romania, William Pottier.
4. ArcelorMittal - 164.2 million euros earnings
In 2007, the steel-maker had a profit of 97.3 million euros.
On the other hand, sales fell 7 percent, from 2.08 million euros down to 1.9 million euros.
Arcelor Mittal said it would invest 1.5 billion dollars over the next six years in improving product quality and increase productivity.
In the same period, the company appointed its former vicepresident Christian Dessiaume as the new chief operating officer, replacing Hans Ludwig Rosenstock after three years in office.
3. Petrom - 277.8 million euros
The oil and natural gas company reported a net profit of 277.8 million euros, almost twice less than 532.7 million euros a year earlier. Sales increased to 4.55 billion euros, up 20 percent from 3.68 billion euros a year earlier.
The company said last year it would revise its investment blueprint and it would safeguard its cash flow by using risk-hedging instruments.
2. Vodafone - 306.6 million euros
In 2007, the mobile telecom carrier recorded sales of 1.15 billion euros and after-tax profit of 264.7 million euros.
The company had 667,212 new users registered in the 2008-2009 fiscal year up to a total 9,588,065 clients until March 31, 2009, while headcount increased to 2,950.
1. Orange - 437.9 million euros
In 2007, the leader of the telecom industry posted sales of 1.21 bn euros, up 24 percent over a year earlier and a net profit of 366 million euros.