Among the most successful companies in Serbia during 2020 are mostly foreign companies, according to the Business Top 2020/21 edition published by the monthly Business and Finance (BIF). Of the domestic companies, the most successful is the Electric Power Industry of Serbia (EPS).
During 2020, EPS was the most successful company in Serbia in terms of profit and realized revenues, because it increased its profit 3.5 times (1.8 percent of the total profit of the entire economy).
EPS was also the leader in terms of business revenues, but also in terms of a loss (five percent of the total loss at the level of the entire economy).
Only Tiger Tires and Telenor remained among the most profitable companies last year, and the Oil Industry of Serbia (NIS), which was the leader in terms of profit in 2019, dropped out. EPS was then in 13th place in terms of net profit.
In second place is Tiger Tires, who was fourth in 2019. They increased the annual profit by 2.1 percent. As in 2019, Telenor was in the third place of the most profitable in 2020, despite the fact that its annual profit was less than a fifth.
Last year, the company Zijin came in fourth place, which in 2019 had the biggest drop in profits and was 18th among the most profitable. It increased its profit by 2.6 times, thanks to the growth of mining production.
Fifth in terms of profit is Coca-Cola HBC Serbia, which was in 14th place in 2019. Last year, the company increased its profit by 55.6 percent. The growth was achieved primarily due to higher profit from financing, while revenues from the sale of beverages were one-fifth lower compared to 2019.
The first on that list in 2020, as in 2019, is EPS with business revenues, or 2.4 percent of total business revenues at the level of the entire economy.
The second is NIS, although its revenues fell by 30.8 percent, due to the oil crisis caused by the pandemic.
The retail chain Delhaize Srbija was in third place in 2020 as well, with business revenues which were increased by 6.3 percent, but due to expenses, its profit was a quarter lower. In fourth place, as in 2019, is Tiger Tires, in addition to the fact that the company’s business revenues fell by 8.6 percent.
Instead of Srbijagas, Telekom Srbija came in fifth place, with increased operating revenues of 2.2 percent. This happened mostly due to the growth of revenues from retail internet and multimedia services.
Sector analyzes, as it is stated, show that most of the most important economic branches have started to recover, as well as that significant deviations from that trend are noticeable in the pharmaceutical industry. It is stated that this year it records a decline in the production of medicines, exports and the number of employees.
Agriculture and the food industry continue to have a surplus in foreign trade, but agricultural production will be lower due to the drought. The food industry is also declining in production, where it has been a long-term trend. The greatest uncertainty is among employees in tourism and hospitality, although the situation has improved somewhat.
Research among businessmen shows that many of them fear liquidity, more expensive energy and higher operating costs. It is noted that more and more businessmen are establishing “reserve” companies in case they get blocked.
The biggest problem, however, is the growing shortage of suitable workers, but despite that, almost two thirds of companies in Serbia do not want to hire qualified migrants from other countries. The annual edition of the magazine Business and Finance publishes the ranking of the 150 largest companies in Serbia, Nova Ekonomija reports.
