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Slovenia Business Week no. 33: Pharma Krka Tops Delo FT Ranking of Domestic Corporations

Pharma Krka tops the list of most successful Slovenian business groups in terms of 2005 profit, having posted SIT 23.3bn (EUR 97.43m) in net earnings last year

Pharma Krka tops the list of most successful Slovenian business groups in terms of 2005 profit, having posted SIT 23.3bn (EUR 97.43m) in net earnings last year. The national telco and pharma Lek, a subsidiary of Sandoz, the generics arm of Novartis, trail in with net profit of SIT 23bn (EUR 96.18m) and SIT 20bn (EUR 83.63m) respectively, according to the rankings of the country's leading business groups released by Delo FT on Monday, 16 October.

The listing of companies in the financial supplement of daily Delo also indicates that energy group Petrol is the leader in terms of 2005 revenues, having generated nearly SIT 444bn (EUR 1.86bn) last year.

Grocer Mercator and Gorenje, the household appliance manufacturer, rank second and third with 2005 revenues of SIT 428.5bn (EUR 1.79bn) and SIT 251.2bn (EUR 1.05bn), respectively.

Following Krka, Telekom Slovenije and Lek as the most profitable corporations is Slovenia's biggest power producer Holding Slovenske elektrarne (SIT 14.4bn/EUR 60.22m).

Further down the list come banking groups NLB (SIT 11.9bn/EUR 49.76m) and Gorenjska banka (SIT 11.4bn/EUR 47.67m), the Slovenian Steel Group (SIT 9.4bn/EUR 39.31m), chemical and tourism conglomerate Sava (SIT 9.2bn/EUR 38.47m), Petrol (SIT 8.4bn/EUR 35.13m) and gaming group Hit (SIT 7bn/EUR 29.27m).

Last year more than 17 business groups reported consolidated revenues in excess of SIT 100bn (EUR 418m). There were just eleven such corporations a year earlier, which Delo FT says confirms that big groups grow at a fast rate.

Most Slovenian corporations wrapped up last business year with a profit. Out of 140 groups only 17 ended the year in the red.

In terms of assets, the NLB banking group was far ahead, boasting a total of SIT 2,946bn (EUR 12.32bn) in 2005. Slovenia's second largest bank, the state-owned Nova Kreditna banka Maribor owned SIT 831bn (EUR 3.47bn) in assets, and Abanka Vipa SIT 606bn (EUR 2.53bn).

Holding Slovenske elektrarne meanwhile topped the list in terms of capital (SIT 251bn/EUR 1.05bn), followed by Telekom (SIT 234bn/EUR 0.98bn), and Lek (SIT 197bn/EUR 0.82bn).

Retailer Mercator was the biggest employer in 2005 with a workforce of 16,372, followed by Gorenje (10,492), the railways operator Slovenske zeleznice (10,293) and NLB (8,362).

In an international comparison, Petrol and Mercator would have placed somewhere around 1440th position in terms of 2005 net revenues, while Krka and Telekom would have ranked around 1667th in terms of profit.

The NLB group ranks somewhere around 900th position among the world's 2,000 companies with the highest market value, according to the report in Delo FT.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency