BUSINESS COMPANIES ECONOMY

Some 7,000 Bucharest-based companies awarded by CCIB. Chairman Sorin Dimitriu: For a quarter of a century, we have rewarded excellence in all its forms

At the 25th edition of the Top Companies event on Wednesday, the Bucharest Chamber of Commerce and Industry (CCIB) presented its awards to 6,922 Bucharest-based companies and some special prizes, with the AGERPRES Romanian National News Agency receiving an excellence trophy for objectivity and professionalism in covering economic phenomenon.

“Honouring its tradition of initiating the bodies of the modern Romanian economy, the Bucharest Chamber rewards consistency, development and contribution to the building of a complex economic fabric with measurable impact on the evolution of the economic ecosystem in the society. 150 years into business, CCIB proves it has the breath needed to be a long time from now on, at all levels, the balanced and listened voice of the most powerful business community of the country, that of the capital, and a natural binder between the needs of the business community and the decision makers (…) For a quarter of a century, we have rewarded excellence in all its forms. We unveil success stories, but we do not forget that behind them are people, visionary entrepreneurs, consistent managers, dedicated, creative and passionate teams. Besides rankings and methodologies and top financial results, we reward those who want tomorrow to be better than today. The ranking of the top Bucharest-based companies has proved to be an excellent opportunity to meet innovative managers and visionary entrepreneurs over the years,” said CCIB Chairman Sorin Dimitriu at the opening of the event.

He added that this edition’s laureates are part of the most dynamic and powerful business community in the country, that of the capital, where unemployment is only 1.4pct, compared with an average 3.4pct nationwide. Bucharest also hosts more than 23pct of all Romanian operating companies and 21pct of the country’s total employees, as well as 30pct of the retail trade space, using 16pct of the Romanian exports, generating 29pct of the country’s imports and 60pct of research activity. Last but not least, over 60pct of foreign investment conducted in Romania is recorded in Bucharest.

“We also have a number of special prizes, symbolically rewarding passionate and enthusiastic people who have developed beautiful projects to promote ideas, products and services, but also professionals in the field of journalism. There are people who, at difficult times, can make you advance, can bring you the information you need or maybe the partners you are looking for,” Dimitriu said.

According to the CCIB, the top prize winners were established according to a strict and complex methodology, approved and applied unitarily, throughout the cameral system. In determining the final rankings, indicators such as: net turnover, operating profit, operating margin, efficient utilisation of human resources and return on capital employed, calculated against 16 items extracted from the financial statements submitted by the companies at the Ministry of Public Finance and the National Companies Registry Office.

Thus, out of the 130,653 Bucharest-based companies that submitted their balance sheets for 2017, 41,987 companies met the eligibility criteria, ie 32.1pct of the total. Of these, the Bucharest CCIB is rewarding 6,922, which is 16.5pct of the total number of eligible companies .

By field of activity, most of the companies rewarded by the Bucharest Chamber of Commerce operate in the field of services (2,379 companies, 34pct of the total), followed by trading companies (1,973 companies, 29pct of the total); industrial companies (1,384 companies, 20pct of the total). CCIB is rewarding this year, according to the ranking methodology, 415 companies specialising in construction, or 6pct of all the winners. In the CCIB ranking, a 6pct share is held by research, development and innovation companies (387 awarded entities), tourism, 3 pct (240) and agriculture, forestry and fisheries, 2pct (144). In order to achieve a more objective ranking, each group is included in one of five classes by size: very large, large, medium, small and micro enterprises. The 6,922 companies together make a turnover of almost 69 billion euro, an operating profit of more than six billion euro, using 578,060 employees.

In addition to the honours awarded for the 2017 business results, trophies of excellence were awarded to companies that ranked first in the elite competition for the past five years, namely the ‘George G. Assan’ Trophy for The Romanian Brand of the Year that went to Zarea SA; the ‘Ioan V. Socec’ Trophy that went to Digi 2 broadcaster for entrepreneurship support under the Romania Fast Forward project. Also presented with excellence trophies were the Bucharest University of Polytechnics for 200 years dedicated to educating young people; the Romanian Radio Broadcasting Corporation for 90 years of activity in public service; the AGERPRES Romanian National News Agency, for objectivity and professionalism in covering economic phenomena; the Romanian Television Broadcasting Corporation for the promotion of the business community; Bucharest FM and the Institute for Research and Development in Mechatronic and Measurement Techniques.

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