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September 20, 2018 12:00 am | FILED UNDER: business

67 Czech Firms Make Coface’s CEE Top 500 List

By ČTK

Prague, Sept 20 (CTK) – There are 67 Czech companies on the list of 500 largest firms in 12 countries of Central and Eastern Europe (CEE), with the Czech Republic’s number being third highest after Poland and Hungary, according to CEE Top 500 ranking published by Coface credit insurer today.

 

The number of Czech companies included on the list decreased by four in annual comparison, Coface’s study showed.

 

The study analyses companies based on their turnover and other parameters including staff numbers, macroeconomic indicators and structure of sectors and markets.

 

Czech car maker Skoda Auto defended its position of the second largest company in the region, following Polish PKN Orlen, being the only Czech entity among the ten largest firms.

 

The study works with companies’ business results in 2017 which was very successful for CEE companies.

 

Coface upgraded the country risk assessment of several countries, including the Czech Republic which got the second best rating A2.

 

The second largest Czech company on the Coface list is Alpiq Energy (11th in 2018, 18th in 2017), and the third was Hyundai Motor Manufacturing Czech (12th in 2018, 11th in 2017).

 

Czech companies on the list generated a total of EUR97.2bn in revenues, and their profit increased by 1.4 percent to EUR5.265bn, which is the second highest amount in the region.

 

The automotive and transport industry was traditionally strong in the Czech Republic as 20 of the 67 companies included on the list operate in the sector.

 

The sector’s production increased by 12.5 percent in 2015, 11.3 percent in 2016 and 9.9 percent in 2017.

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