Romania, historical results in the Deloitte CE Technology Fast 50 2012 ranking

Results of this year's Deloitte Central Europe Technology FAST 50 confirm that Romanian companies active in the technology sector are successfully facing the global crisis challenges and are further consolidating their foothold in the region. 

For the second year in a row, the online travel services company Vola.ro ranked first, with a record revenue growth rate (17,323%, as an average for the last five years), while another company - TeamNet International made a debut in the Big 5 category, a first for the local technology industry. 

The ranking, now in its 13th edition, targets the fastest growing technology companies in the region, based on the revenues growth rate experienced over the last five years (in this case, during 2007 - 2011). FAST 50 entrants must be a technology company, defined as an owner of proprietary technology that contributes to a significant portion of the company's operating revenues; or as a company that devotes a significant portion of revenues to research and development of technology. Eligibility criteria also include operating revenues of at least 50,000 Euro (revenue must be accounted on a consistent basis during a period of five years); activity of the business for a minimum of five years; an ownership structure that excludes majority-owned subsidiaries of foreign strategic entities; and headquarters within one of the Central European countries participating in the program.

In addition to the main award category, Deloitte also acknowledges companies that are quickly making a name for themselves - the Rising Stars category, for technology firms that do not meet the minimum of five years in operation criterion and report lower base year revenues. Fast 50's 10th edition also marked the introduction of a new category - the Big 5 Award, for large companies, with the 2011 turnover exceeding 25 million Euro, which are still experiencing fast growth but cannot compete with the growth rates registered by companies in the top spots. 

The list of Romanian finalists this year includes Vola.ro S.R.L. (1st place, headquartered in Bucharest, with a 17,323% growth of revenues for the 2007-2011 period), SmartTel S.A. (ranked 14, from Bucharest, +894%), TeamNet International S.A. (ranked 16, Bucharest, +870%), Crys Computers S.R.L. (25, Bucharest, +597%), Accesa (ranked 28, Cluj-Napoca, +501%) and Ingenio Software S.R.L. (ranked 43, Bucharest, +264%). 

"This year's results confirm our expectations for the local technology players. We congratulate the finalists for their performance. Vola.ro, the number one company for the second year in a row, has reported the highest growth rate since the crisis hit the region (2008 - 2009), thus affecting the results of this particular industry as well, but also the second highest growth rate in the history of the program at a regional level,” said Ahmed Hassan, Country Managing Partner Deloitte Romania and Technology, Media and Telecommunications Industry leader. "Also, the debut of a Romanian company in the Big 5 category is an indication of the strength of Romanian brands and their position at a regional level, a position that should make us proud as a country. The 2012 report is again underlying the potential of the local technology industry, which has tradition and an internationally-acknowledged school. The accelerated growth rhythm and the development perspectives of this industry, even during a time of economic decline, will certainly generate interest from strategic investors.”   

Alina Mirea, Audit Partner with Deloitte Romania, added: "Looking at these results in context, since the program's launch in Romania five years ago, we notice that most of the Romanian finalists are positioned in the first part of the ranking, a performance we may compare to 2010, when Romania had its best representation (a total of 7 companies). On the other hand, the 2012 results can be considered as the best so far in the ranking history for Romania, considering the performance of companies that have been in the ranking before, and also the three new entries. Moreover, with an average growth rate of 3,408%, our finalists are well above the ranking average growth, and Romania is now positioned as third in the region, after Poland and Hungary.” 

Deloitte Central Europe Technology FAST 50 highlights

This year, average growth of Fast 50 companies dropped slightly to 1,026%, from 1,068% in 2011;

Eight countries are represented on the ranking: Estonia, the Czech Republic, Hungary, Lithuania, Poland, Romania, Serbia and the Slovak Republic; 

Poland had the best representation with 27 companies, followed by Hungary (8 companies), and Romania (6);

23 companies entered the ranking for the first time in 2012, compared to 19 last year;

In terms of sectors, Software (27 companies) and Internet (17 companies) dominate this year's ranking. Internet-focused companies have the largest representation in the other two categories of the program (Rising Stars: 4 out of 10, and Big 5: 3 out of 5). 

Discussions with companies' CEOs have identified five priority areas that technology leaders will continue to focus on during 2012:

• Confidence levels are rising about future growth.
• Organic growth continues to be the most likely growth scenario.
• High quality and skilled employees are critical.
• Cloud computing is expected to have the highest potential return.
• Performance management is crucial.

As in the previous years, winners of the regional competition will automatically be nominated in the wider competition known as Technology FAST 500 EMEA for companies in Europe, the Middle East and Africa. The Awards ceremony will take place on November 29 at the Lanesborough Hotel in London. Last year, four Romanian companies were included: Vola.ro (ranked 13th), TeamNet International (64th), Crys Computers (333rd), and Fortech (497th). 

The full report will be available for free download at the following link - http://www.deloitte.com/fast50ce, starting October 25, 17:00 CET.