Romania is No. 1 in the Deloitte Top Technology Fast 50 2012 Program in Central Europe
Romania occupied the pole position for the second year in a row in Deloitte’s 2012 Central Europe Technology Fast 50. Romanian Internet airline ticket retailer Vola.ro was ranked 1st in Deloitte’s 2012 Central Europe Technology Fast 50, scoring a revenue growth rate of 17,323% over the past five years. The Romanian company performed the second-highest growth rate in the history of Deloitte’s Central European program, and the fastest five-year growth observed since 2005. Six Romanian internet and software companies are among the award winners of Deloitte’s 2012 Central Europe Technology Fast 50 program.
The Deloitte Technology Fast 50 is a prestigious annual award that honors fast growing public or private technology companies from Central Europe based on percentage fiscal year revenue growth over a period of five years, 2007 to 2011. In order to determine revenue growth, calculations are made in local currency. To be eligible, companies must show proof of minimum revenue threshold in Euros. Exchange rates are based on annual average published by the central bank of the each company’s national currency. Technology companies can self-nominate for the program and submit company relevant financial data via Deloitte’s online survey tool. Afterwards, Deloitte uses each company’s financial statement to proceed with a cross-check in order to verify the accuracy of data submitted by registered companies.
Powerful Connections is the keynote of the 13th edition of Deloitte Top Technology Fast 50 2012 program in Central Europe. Romania occupied the first position in the program both in 2011 and 2012. Vola.ro was ranked first two year in a row in Deloitte’s Top Technology Fast 50 program. The Romanian company specializes in web-based and real time airplane tickets booking and obtained a revenue growth rate of 17,323% in the period between 2007 and 2011. Five other Romanian companies have been included in the list, among them a mobile banking service provider, an integrated solution provider, a technology consulting and application development company and two software development and outsourcing service providers.
The second-fastest growing company in 2012 and also the second year in a row was LiveSport s.r.o, an internet sports company from the Czech Republic who has performed a growth rate of 2,441% over the last five years. The Czech company has made its first entrance in 2009 in the Rising Star category of Deloitte’s shortlist.
We can witness a similar success story in case of the Polish software firm i3D S.A., who jumped from the Rising Stars list in 2011 to the third spot on the 2012 Fast 50 with a five-year growth rate of 2254%.
Technology Fast 50 winners accomplished an average revenue growth rate of 1026% in 2012, a decrease on the 1068% average growth in 2011.
The Deloitte Technology Fast 50 is part of the global Fast 500 program that aims to draw attention to fast-growing companies and to put companies that are just establishing themselves on the market at the forefront of global attention. The program is monitoring the related industry sectors of software, internet, computer & peripherals, telecommunications & networking and media & entertainment.
Source: Deloitte, Picture: Deloitte.