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uvodnik

Prof. dr Veroljub Dugalić Generalni sekretar Udruženje banaka Srbije [email protected]

RANGIRANJE KOMPANIJA, BANAKA I OSIGURAVAJUĆIH DRUŠTAVA CENTRALNE EVROPE

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a malim vremenskim razmakom nedavno su objavljene liste najuspešnijih firmi centralne Evrope i privrednih društava u Srbiji. Prvu “Top 500 kompanija” je izradila poznata revizorsko-konsultantska kuća Deloitte a liste “STO NAJ...” uradila je Agencija za privredne registre. STO NAJ zapravo predstavlja više rang lista koje su sačinjene na osnovu analize i rangiranja podataka za 94.362 privredna društva i to prema uspešnosti poslovanja - po osnovu prihoda i neto dobitka, zatim prema finansijskim kapacitetima kojima raspolažu - po ukupnim sredstvima i kapitalu, kao i prema visini iskazanih gubitaka. Na vrhu liste STO NAJ po poslovnim prihodima nalazi se, kao i prethodne godine, NIS ad Novi Sad, zatim slede Fiat Automobili doo Kragujevac, JP EPS Beograd i Telekom Srbija ad Beograd. Na sledećoj listi STO NAJ najprofitabilnija privredna društva u 2013. godini bila su: NIS, Telekom, Telenor i Tarkett doo Bačka Palanka. Po ukupnim sredstvima i po kapitalu prvi na listi su JP Putevi Srbije i LP EPS.

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editorial

COMPANIES, BANKS AND INSURANCE COMPANIES IN CENTRAL EUROPE RANKED

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he list of the most successful firms in central Europe and the list of the most successful business companies in Serbia have recently been published, following one another closely. The first list, Top 500 Companies was compiled by Deloitte, the famous auditing and consulting firm, whereas the TOP 100… lists were compiled by the Business Registers Agency. TOP 100… is actually a group of ranking lists compiled based on the analysis and ranking of data for 94,362 business companies, according to how successful their business performance is - i.e. revenues and net profit, then according to the financial capacity they have at their disposal - i.e. total assets and capital, and according to the amount of recorded losses. The first place at the TOP 100 list according to business revenues is, like in the previous year, taken by NIS a.d. Novi Sad, followed by Fiat Automobiles d.o.o. Kragujevac, JP EPS Beograd, and Telekom Serbia a.d. Belgrade. At the next TOP 100 list, the most profitable business companies in 2013 were: NIS, Telekom, Telenor and Tarkett d.o.o. Bačka Palanka. When it comes to total assets and capital, the first on the list are JP Putevi Srbije and LP EPS.

Prof Veroljub Dugalić PhD Secretary General Association of Serbian Banks [email protected]

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izmena rangiranih kompanija iz Srbije. Rang Naziv kompanije Prihod od prodaje 2013. Neto profit 2013. Na osnovu podataka 63. NIS 2.294,2 427,6 o prihodima od 85. JP EPS 1.858,7 169,6 prodaje u 2011. godini na “Top 500” 115. FIAT Automobili Srbija 1.486,4 10 našlo se 11 naših 192. Telekom Srbija 1.015,6 138,8 kompanija: EFT (67. 228. Delhaize Srbija 892,6 41,1 mesto), NIS (89), EPS 261. EFT Investments 841,2 10,1 (99), Telekom (175), Delta (188), Deleze 387. JP Srbijagas 607 449,3 (201), Srbijagas (283), 418. Tarkett Bačka Palanka 564,6 65,7 US Steel Srbija (306), 427. Mercator 551,7 4,9 Viktorija grupa 490. Idea Beograd 487,8 -20,6 (462), Mercator Predstavnici Srbije na rang listi Deloitte „Top 500 kompanija“ (472) i Tarkett (484). Jedanaest kompanija iz Srbije na ovoj listi našle su se i u 2010. godini. U 2009. godini Na sada već tradicionalnoj listi “Top 500 kompanija u centralnoj Evropi” rangiranih 12 kompanija iz naše zemlje našlo se na ovoj prema visini prihoda od prodaje u 2013. godini rang listi (o čemu smo pisali u uvodniku 10 je iz Srbije. To su: NIS, ovog časopisa iz 2010. godine: JP EPS, Fiat Automobili Odmeravanje, br 7-8, 2010. Srbija, Telekom Srbija, godine. Delhaize Serbia, “Na listi Top 500 kompanija EFT Investments, JP centralne Evrope za 2009. Srbijagas, Tarkett Bačka godinu nalazi se 12 kompanija Palanka, Mercator i Idea iz Srbije po osnovu ostvarenih Beograd. Na ovoj rang listi povećan je broj naših prihoda od prodaje. Najbolje plasirana je Delta kompanija u odnosu na prethodnu 2012. godinu grupa koja se nalazi na 72. mestu sa ostvarenim kada je bilo osam kompanija. To su bile: EFT na prihodom od 1,67 milijardi evra, potom EPS na 75. sa 1,64 milijardi evra, PTT Srbija na 101. sa 63. mestu, NIS na 78. mestu, EPS na 108. mestu, 1,30 milijardi evra i NIS na 109. mestu sa 1,25 Telekom na 190, Delhaize na 235, Srbijagas na milijardi evra prihoda. Na ovoj rang listi našle 355, Tarkett na 435. i Merkator na 470. mestu. su se i sledeće kompanije: Telekom Srbija (118), Novi na listi su Fiat Automobili i Idea. Tokom 2013. godine nakon drugog talasa krize koji je ispoljen u prethodnoj godini, u srpskoj privredi je došlo do blagog stišavanja tenzija, mada su i dalje evidentne posledice recesionih kretanja. Skromni oporavak EFT Holding (149), Delta Maxi (239), Srbijagas domaće ekonomije oslikava godišnji rast domaćeg bruto proizvoda od 2,5% koji je (308), US Steel Serbia (351), Mercator S (419), ostvaren uz intenzivniji godišnji prirast nivoa Yugorosgaz (485) i Idea (488). industrijske proizvodnje od 5,5%. Kao ključni Istovetna rang lista godinu dana ranije imala generator laganog oživljavanja privrednih je upola manje srpskih kompanija, ali su one aktivnosti izdvaja se izvoz, koji je u poređenju zauzimale značajno viša mesta: NIS je bio na 28. sa prethodnom godinom povećan čak za mestu sa 3,72 milijarde evra prihoda, EPS na 96. četvrtinu. Time se, donekle, može objasniti i mestu sa 1,68 milijardi evra, Delta Maxi na 101. mestu (1,64 milijardi EUR), PTT na 125. mestu ovaj povećan broj kompanija na listi Deloitte. Ako se pogleda lista Deloitte iz 2011, 2009. (1,4 milijarde EUR), US Steel Serbia na 183 (1,04 i 2008, uočljivo je da nije došlo do značajnijih milijardi EUR) i Srbijagas na 287. mestu (744,1 U milionima EUR

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by as much as one fourth. This may, Rank Company name Sales revenue in 2013 Net profit in 2013 to a certain extent, 63 NIS 2,294.2 427.6 explain the increased 85 JP EPS 1,858.7 169.6 number of companies at the Deloitte list. 115 FIAT Automobiles Serbia 1,486.4 10 If we take a look 192 Telekom Serbia 1,015.6 138.8 at the Deloitte lists 228 Delhaize Serbia 892.6 41.1 from 2011, 2009, and 261 EFT Investments 841.2 10.1 2008, it is evident that no considerable 387 JP Srbijagas 607 449.3 changes have taken 418 Tarkett Bačka Palanka 564.6 65.7 place concerning the 427 Mercator 551.7 4.9 ranked companies 490 Idea Belgrade 487.8 -20.6 from Serbia. Based The Serbian representatives at the Deloitte Top 500 Companies ranking list on the data about sales revenues in 2011, the Top 500 list At the already traditional list Central Europe included 11 Serbian companies: EFT (67th place), Top 500 Companies, ranked according to the NIS (89th), EPS (99th), Telekom (175th), Delta amount of sales revenues, in 2013 there are (188th), Deleze (201st), Srbijagas (283rd), US Steel Serbia (306th), Victoria Group (462nd), 10 companies from Serbia. These are: NIS, JP Mercator (472nd), and Tarkett (484th). These EPS, Fiat Automobiles Serbia, Telekom Serbia, eleven companies from Serbia found their Delhaize Serbia, EFT Investments, JP Srbijagas, Tarkett Bačka Palanka, Mercator and place on the list in 2010 Idea Beograd. The number of Serbian as well. In 2009, the 12 companies on this list increased companies from Serbia compared to 2012, when only eight made it to this ranking companies made it to the list. Those list (which we wrote about in the Editorial were: EFT at the 63rd place, NIS at 78th, EPS at 108th, Telekom at 190th, to this Journal in 2010: Delhaize at 235th, Srbijagas at 355th, “Weighing”, no. 7-8, Tarkett at 435th, and Mercator at the 2010). 470th place. The new on the list are “At the 2009 list of Fiat Automobiles and Idea Belgrade. Central Europe Top 500 In 2013, following the second wave companies, there are 12 of the crisis manifested in the previous year, the companies from Serbia ranked according to tensions in the Serbian economy were slightly the achieved sales revenues. The best-ranked appeased, although the consequences of the is Delta Group which holds 72nd place with the recessionary trends have still been evident. achieved revenues of EUR 1.67 billion, followed The modest recovery of domestic economy is by EPS in the 75th place with EUR 1.64 billion, reflected in the annual GDP growth by 2.5%, PTT Serbia in the 101st place with EUR 1.30 billion and NIS in the 109th place with EUR achieved side by side with the more intensive annual growth of the industrial production by 1.25 billion. The following companies were also 5.5%. As the key generator of the slight revival ranked in this list: Telekom Serbia (118th), EFT Holding (149th), Delta Maxi (239th), Srbijagas of economic activities, we may single out export, which, compared to the year before, increased (308th), US Steel Serbia (351st), Mercator S (419th), Yugorosgaz (485th) and Idea (488th). This very same ranking list just a year ago included only half the number of the Serbian companies, but these were ranked In EUR million

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milion EUR).” Na listi “Top 500” koja je nedavno objavljena najveći broj kompanija je iz oblasti robe široke potrošnje i transporta, a potom iz energetskog sektora. Po broju plasiranih firmi centralne Evrope za 2013. na prvom je mestu Poljska, a na drugom Mađarska. Od zemalja nekadašnje Jugoslavije rangirane su kompanije iz Slovenije (16), Hrvatske (12), Srbije (10), BIH (3) i Makedonije (1). Prve tri firme na ovoj listi su PKN Orlen iz Poljske sa 27.037,2 miliona EUR prihoda od prodaje i -26,1 milion EUR neto profita, MOL iz Mađarske (18.121,1 milion EUR i -65,1 milion EUR) i ŠKODA AUTO iz Češke Republike (10.311,2 miliona EUR i 454,4 miliona EUR). Sve tri prvoplasirane firme nalaze se na istom mestu kao i godinu dana ranije. Osim ove, Deloitte objavljuje i liste 50 najvećih banaka i 50 najvećih osiguravajućih kompanija centralne Evrope. Na listi najvećih banaka nema ni jedne banke iz Srbije kao što ih nije bilo ni poslednjih sedam godina, od kada postoje ove rang liste. Najveće banke po aktivi u 2013. godini su: PKO Bank Polski sa aktivom od 48.039,9 miliona EUR i neto profitom 704,8 miliona EUR, Bank Pekao, takođe iz Poljske, sa aktivom od 38,223,9 miliona EUR i neto profitom od 659,7 miliona EUR i ČSOB iz Češke Republike sa aktivom od 37.855,1 milion EUR i neto profitom od 524,2 miliona EUR. PKO je i u prethodnoj, 2012. godini bila na prvom mestu, a drugoplasirana je bila na trećem, dok je trećeplasirana bila na

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drugom mestu ove rang liste. Od država bivše Jugoslavije Hrvatska je prisutna sa 3 banke: ZABA (na 10. mestu), PBZ (25) i Erste Croatia (27), a Slovenija sa NLB Group (17). Sve ove nabrojane banke su u 2012. godini bile bolje plasirane, sem Erste Croatia koja je u 2013. godini ostvarila značajan pomak i sa 39. mesta popela se na 27. Od matičnih banaka koje se nalaze i u Srbiji na ovoj listi našle su se četiri Raiffeisen banke iz Poljske (na 16. mestu), Češke (35), Mađarske (42) i Rumunije (46). Sa istim brojem zastupljene su i UniCredit banke u Češkoj (11), Bugarskoj (37), Rumuniji (40) i Mađarskoj (48). Osim ovih, prisutne su i Erste banka u Hrvatskoj (27) i Mađarskoj (34), i po jedna OTP banka u Mađarskoj (5) i NLB banka u Sloveniji (17). U odnosu na prethodnu 2012. godinu sve ove nabrojane banke nisu u 2013. godini značajnije promenile mesto na rang listi. Najveći pad za 9 mesta ostvarila je Erste banka u Mađarskoj i za 8 mesta Raiffeisen banka u Češkoj. Na listi Top 50 osiguranja našao se jedan predstavnik Srbije - Dunav Osiguranje. Ovo osiguravajuće društvo sa bruto obračunatom premijom u 2013. godini od 148,5 miliona EUR i neto profitom od -7,6 miliona EUR zauzelo je poslednje 50 mesto na listi. Inače najveća osiguravajuća društva u centralnoj Evropi su: PZU iz Poljske, Česka Pojislovna iz Češke i WARTA, takođe iz Poljske. Glavni i odgovorni urednik dr Veroljub Dugalić

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considerably higher: NIS was ranked 28th with EUR 3.72 billion of revenues, EPS was ranked 96th with EUR 1.68 billion, Delta Maxi was ranked 101st (EUR 1.64 billion), PTT was ranked 125th (EUR 1.4 billion), US Steel Serbia was ranked 183rd (EUR 1.04 billion) and Srbijagas was ranked 287th (EUR 744.1 million).” The majority of companies at the recently published Top 500 list are in the field of common goods and transport, followed by the ones in the energy sector. According to the number of ranked firms in central Europe in 2013, Poland holds the first place, followed by Hungary. Out of the former Yugoslav countries, the ranked companies are from Slovenia (16), Croatia (12), Serbia (10), Bosnia and Herzegovina (3), and Macedonia (1). The top three firms at the list are PKN Orlen from Poland, with EUR 27,037.2 million of sales revenues and EUR -26.1 million of net profit, MOL from Hungary (EUR 18,121.1 million and EUR -65.1 million), and ŠKODA AUTO from Czech Republic (EUR 10,311.2 million and EUR 454.4 million). All three top-ranked firms have held the same position as in the year before. In addition to this one, Deloitte also publishes the list of Top 50 Banks and Top 50 Insurance Companies in central Europe. The Top 50 banks list does not include any banks from Serbia, which has been the case in the past seven years, since the establishment of these ranking lists. The biggest banks in terms of assets in 2013 are: PKO Bank Polski with the assets amounting to EUR 48,039.9 million and net profit of EUR 704.8 million; Bank Pekao, also from Poland, with the assets amounting to EUR 38.223.9 million and net profit of EUR 659.7 million; and ČSOB from Czech Republic with the assets amounting to EUR 37,855.1 million and net profit of EUR 524.2 million. In 2012 PKO held the first place as

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well, while the second- and third-ranked banks in the meantime switched their places at this ranking list. Out of the former Yugoslav countries, Croatia is represented by 3 banks: ZABA (at the 10th place), PBZ (25th), and Erste Croatia (27th), and Slovenia by NLB Group (17th). All these banks were better ranked in 2012, except for Erste Croatia which in 2013 achieved considerable progress, having reached the 27th place as opposed to the previous 39th. Out of the parent banks also operating in Serbia, the list included four Raiffeisen banks: from Poland (at the 16th place), Czech Republic (35th), Hungary (42nd), and Romania (46th). The number of UniCredit banks is the same: from Czech Republic (11th), Bulgaria (37th), Romania (40th), and Hungary (48th). Besides these, the list includes two Erste banks, one from Croatia (27th) and one from Hungary (34th); OTP Bank from Hungary (5th) and NLB Bank from Slovenia (17th). Compared to the previous year, 2012, the ranking of the above mentioned banks has not significantly changed in 2013. The biggest drop, by 9 places, has been recorded by Erste Bank from Hungary, and, by 8 places, by Raiffeisen Bank from Czech Republic. The Top 50 Insurance Companies list includes one representative from Serbia - i.e. Dunav Osiguranje. This insurance company, with the net calculated premium in 2013 amounting to EUR 148.5 million and net profit of EUR -7.6 million, holds the last, 50th position at the list. The major insurance companies in central Europe are: PZU from Poland, Česka Pojislovna from Czech Republic and WARTA, also from Poland. Editor in Chief Veroljub Dugalić PhD