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February 3, 2023

Deloitte CE Technology Fast 50: Romania third in the region

Romanian technology companies’ turnover has grown on average by 400 pc in the last 5 years

Romanian technology companies have registered an average turnover growth of 400 per cent in the last five years, with the IT sector being the most covered one, Ahmed Hassan, Deloitte Romania Country Managing Partner, stated on Monday at a special conference.
“Romania is part of the list of countries in which technology is developed. The companies with the biggest growth in Romania, technology-wise, based on their revenues, have registered an average growth of 400 per cent in the last five years. Most of the companies are in the IT development area. The Romanian companies that qualified for the Fast 50 rankings had innovation as their strong point. They were led by entrepreneurs that invested their own funds and had ideas. People are the biggest challenge, after all. Big players are looking for qualified people,” Hassan stated.
According to the data that the representative of Deloitte Romania presented on Monday, more than half of the directors of Romanian companies have stated that they plan to earmark funds for the research and development domain in the next two years.
“Approximately 52 per cent of company directors want to earmark money for research and development (R&D). Romania hasn’t had very good results in this area. Romanian companies spend the least amount of money for R&D compared to the other countries in the European Union. The main reason is that there is no Government stimulus on this segment. To the extent in which the Government will offer a tax waiver for R&D, then things will change,” Ahmed Hassan warned.
Deloitte Romania’s recent statistic shows that Romania is third in the 2014 edition of the Deloitte CE Technology Fast 50 regional rankings, having six companies in the competition of the most dynamic technology companies, based on the rise in revenues obtained over a period of five years. Five of the companies are software developers, and one is an internet provider company.
The representatives of the Romanian companies present in the Deloitte rankings have stated that the main challenges they have had to deal with have been the decapitalization of Romanian industry and the local market’s lack of maturity. On the other hand, they admitted that they have not used the existing fiscal facilities, focusing more on growing their businesses and less on optimizing their revenues and costs.
The average growth among companies present in the Fast 50 rankings climbed from 671 per cent in 2013 to 698 per cent this year. Nevertheless, that level is far below the 1,028 per cent average registered in 2012. Ten countries are represented in the Fast 50 rankings this year: Poland (17 companies), Hungary (10), Romania (6), Croatia (4), Czech Republic, Lithuania and Slovakia (3 each), Serbia (2), Bulgaria and Estonia (1 each).

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