The ninth “Deloitte Central Europe Top 500” ranking, which is based on the consolidated revenue of companies in Central Europe in 2014, has been published, the CFTS portal reports.

"Except for the unstable geopolitical situation in the Ukraine, the largest Central European companies show signs of economic recovery," the report states.

The average revenue increased by 0.3%, as compared to a 0.0% average change in 2013. However, the total revenues of all the companies in the Ranking went down by 1.8% (compared with a decline of 0.4% last year) to EUR 682 billion.

There is a strong sense that the region’s four Visegrad economies, Poland, the Czech Republic, Slovakia, and Hungary, are in a much more stable and sustainable position than they were 12 months ago.

Among the 500 companies, 170 are from Poland (compared with 161 in 2013), followed by the Czech Republic with 79 companies, Hungary with 66, Romania with 46, and Slovakia with 33.

Interestingly, Ukraine was fourth in the ranking in 2013, when 53 companies represented it. Now, with 32 companies, Ukraine has dropped six places and overtaken by Romania and Slovakia.

The top three countries in the ranking remain unchanged. It is headed by a Polish energy company PKN Orlen (with an income of EUR 25.5 billion in 2014). The Hungarian company MOL is second (EUR 15.7 billion) and the Czech carmaker Skoda third (EUR 10.9 billion).

In fourth place rookie rankings – The Polish retailer Jeronimo Martins Polska is the new entry at fourth and the Polish company PGNiG is fifth.

The Ukrainian company Metinvest is in sixth place (EUR 7.8 billion), having dropped two positions compared with 2013. It is followed by Audi Hungaria Motor, ČEZ, Lotos, and PGE.

Ukraine’s top five representatives are the following: Metinvest in sixth (fourth last year), DTEK in 13th (5th), Energorynok in 14th (7th), Naftogaz at 17th, and Ukrzaliznytsia in 33rd (21st) with revenues of EUR 3.7 billion. According to the report, Ukrzaliznytsia’s revenue fell by 38.4%.

It is worth noting that Ukrainian transport companies were often in the ranking previously. For example, in the previous ranking Ukrzaliznytsia was 21st and Ukraine International Airlines 424th. The transport engineering market was represented by Motor Sich in 264th and Azovmash in 361st. Lemtrans was also in the ranking for the year 2012.

Now, the Ukrainian transport sector is represented exclusively by Ukrzaliznytsia. The state railway monopoly dropped 12 positions to 33rd. Nibulon, which operates a port terminal and a river fleet, can also be considered a transport company. It dropped 66 positions to 235th with revenue of EUR 854 million. Bunge Ukraine was 300th. Motor Sich dropped 61 positions to 325th.

For comparison, the Auchan Romania generated almost the same amount of revenue as Nibulon while Motor Sich generated almost the same amount of revenue as the Polish companies Empik Media & Fashion and Nestle Polska. Ukrzaliznytsia’s revenue is EUR 1 billion less than that of Kia Motors Slovakia.

Among the other transport companies in the region, the Polish railway company PKP climbed from 59th to 54th (EUR 2.5 billion).

Hungarian WIZZ Air Hungary rose from 240th to 143rd (EUR 1.27 billion)

Polish railway infrastructure operator PKP PLK was 150th.

České dráhy (the Czech Railways) was 151st with revenue of EUR 1.2 billion.

The Polish railway freight company PKP Cargo dropped 19 positions to 194th with revenues of EUR 1 billion.

The LOT airline is 246th with revenue of EUR 821 million.

Slovakian Railways ŽSR is 499th with revenues of EUR 460 million.