COFACE PUBLISHES CEE TOP 500 COMPANIES: How do the biggest companies bounce back from the pandemic?11/02/2022
• 2021 – a favourable environment for Central and Eastern Europe with 5.7% GDP growth after a recession of -3.7% in the first year of pandemic
• Top 500 players: increase in turnover, net profits and employment, due to the recovery from the slump of activity
• Sectors: the reliable backbone oil and gas comes in first in the top 500 followed by automotive & transport and non-specialized trade
• Poland is home to the largest businesses in the region with an increasing aggregated turnover by 26% in 2021 compared to previously
NUMEROUS CHALLENGES FOR COMPANIES IN CEE RESULT IN AN INCREASED NUMBER OF INSOLVENCIES04/27/2023
Corporate insolvencies in Central & Eastern Europe (CEE) increased in 2022 due to high prices when it comes to energy, inputs, series of prompt interest rate hikes, the highest inflation in decades and the uncertainty related to the war in Ukraine.
Eight countries experienced a higher number of insolvencies (Bulgaria, Croatia, Hungary, Latvia, Lithuania, Poland, Romania and Serbia), and four countries recorded a decrease (Czech Republic, Estonia, Slovakia and Slovenia).
After a drop in insolvencies in 2020, proceedings increased in 2021 and accelerated in 2022.
A further tightening of the oil market04/25/2023
In early April, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman announced combined oil output cuts of more than 1.1 million barrels per day (b/d), surprising the markets. This commitment follows a first production cut announced in October 2022 by OPEC+. It comes in addition of Russia's decision to cut output by around 500,000 b/d in reaction to the implementation of a EU ban on seaborne imports of Russian oil and oil products.
The agreement on cereal shipments in the Black Sea will not be enough to solve all the challenges of the Agri sector in 202304/11/2023
Although the agreement concerning the cereals transit in the Black sea, first negotiated between Ukraine and Russia under the aegis of Turkey, then renewed in March, has contributed to ease the pressure on cereals supply, its effects are limited and grey areas on the food security of many countries persist. The extension of this agreement provide temporary relief to the market, but Coface believes that the serious supply tensions that emerged with the start of the war in Ukraine will persist throughout 2023.
Coface Technologies will expand its team in Romania with over 100 software engineers over the next 4 years03/21/2023
Six years after its inauguration, the software development hub Coface Technologies plans to grow its team of IT specialists to 200 members within four years. The plan is part of the group's ambition to strengthen the position of the technology center in Romania as an integrated supplier of software solutions for Coface offices around the world.
4,721 employees worldwide
100 countries where we are present
€670 B of receivables guaranteed
10,000 daily risk decisions
174 staff in charge of indemnification
158 debt collection specialists
€283.1 M Net income in 2022
42 Pipera St. - 6th Floor - 020112
Globalworth Plaza Building
District 2 - Bucharest - ROMANIA
T. +40/374 670 720
107 Republicii Str.- 3rd Floor -
Cluj-Napoca - ROMANIA
T. +40 744 394 547
69 Calea Torontalului - 10th Floor - Vox Building
Timisoara - ROMANIA
T: +40/ 741 111 689 | F: +40/ 373 788 813