4 Romanian Companies in the Deloitte Top Technology Fast 500 EMEA
Romania is present with four companies in Deloitte’s Top Technology Fast 500 EMEA, a program recognizing technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East and Africa during the previous five years. Romanian internet airline ticket retailer Vola.ro is ranked 3rd in Deloitte’s Top Technology Fast 500 EMEA, mobile banking service provider SmartTel occupies the 158th position, while two other Romanian IT&C companies were placed 162nd and 247th, respectively.
Romanian Vola.ro scored a revenue growth rate of 17,323% in the period between 2007 and 2011. The Romanian company specializing in web-based airplane ticket booking was ranked 1st in Deloitte’s 2012 Central Europe Technology Fast 50, performing the 2nd highest growth rate in the history of Deloitte’s Central European Program and fastest five-year growth observed since 2005.
French firm Criteo secured the top spot in Deloitte Touche Tohmatsu Limited (DTTL) Global Technology, Media & Telecommunications (TMT) industry group’s 2012 Technology Fast 500TM EMEA (Europe, Middle East and Africa) rankings. The firm, which specializes in online performance display advertisements, secured the top spot with an impressive five-year growth rate of more than 200,000 percent.
For the third consecutive year French companies show an overwhelming presence in the program ranking, being present with 90 winning companies. The United Kingdom brings the second impressive number of award winning companies, ensuring 74 places out of the 500 list, followed by Sweden with 55 qualifying companies.
Deloitte’s news release points out that five-year revenue growth rate of Deloitte’s Top Technology Fast 500 EMEA companies has increased by 83% with software sector representing 40% (198 companies) of the rankings. The internet sector had a 21% share, telecommunications and networking put out 17% of the list, followed by semiconductors/components/electronics with 8%. Other figures in sector contribution show that Biotech/Pharmaceutical/Medical Equipment made out 6%, Green tech 3%, Media/Entertainment 3% and Computers/Peripherals put out 1% of the list.
Average growth rates on the rise
The average five-year revenue growth rate for the top five companies this year was 53,474 percent and the overall average revenue growth was 1,549 percent. This was a substantial increase compared to the 2011 growth figures of 20,401 percent for the top five and 1,287 percent for the full ranking.
The Tech Fast 500 program is determined through nominations, public company research and Deloitte Technology Fast 50 country programs in EMEA. In order to be eligible, a technology company has to have base-year operating revenues of at least EUR 50,000 and a current year operating revenues of at least EUR 800,000. Additionally, it has to be involved in business for a minimum of five years and has to have headquarters within Europe, the Middle East or Africa or have shares listed on a European stock exchange.
Now in its 12th year, the annual Deloitte Technology Fast 500 TM program ranks the fastest growing public and private technology, media, telecommunications, life sciences, and clean technology companies from 24 countries in the EMEA region, based on percentage revenue growth over a five-year period. This year the program received more than 1,100 submissions.
The Deloitte Technology Fast 500 EMEA program is the region’s most objective industry-ranking standard to focus on the technology field and is now celebrating its 11th year. The program recognizes technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East and Africa during the past five years. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, internet, media and entertainment, life sciences and green technology.