The ten biggest non-financial companies on the Stock Exchangelast year reported turnover increases against 2009, with theleaders being companies in the industrial, energy andpharmaceutical sector.
The increased consumption of electricity and natural gas amid arebound in industrial production, the major increase in exports, aswell as the rise in the price of oil and of metals on internationalmarkets led the biggest Stock Exchange companies to report turnoverincreases last year, despite the overall economy recording itssecond year of decline.
The top 50 non-financial companies on the Stock Exchange (banks andSIFs excluded) posted 21.3 billion lei (5 billion euros) incumulated turnover, up 15% against 2009, with Petrom, the largestlocal company, having yet to publish its results.
The explanation for the good performance of listed companiescompared with that of the overall economy is the fact that majoreconomic sectors are not present on the Stock Exchange. It is thecase of trade, which last year recorded one of the biggest declinesamid a consumer spending decline, but there are many companies inthe energy and industrial sector, which recorded a positive trendthanks to the recovery of European Union economies and ofexports.
"Stock Exchange companies have been more dynamic. These companieswere the first to adjust their operations, ever since the end of2007 or the first quarter of 2008, so it was normal for them toreturn to growth faster than the rest of the economy," said IulianPanait, chairman of capital market consultancy KTD Invest.
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