Lukoil Neftochim Burgas, the largest crude oil refinery in Southeastern Europe and the largest industrial enterprise in Bulgaria, retained its third position in the latest annual ranking of SeeNews TOP 100 SEE released on 6 October.

Subdued domestic demand and low exports, limited credit growth due to high non-performing loan ratios, market volatility and political uncertainty continued to curb the financial performance of the companies in Southeast Europe (SEE) in 2014. Overdue structural reforms weigh on the economies in the region, which failed to benefit fully from cheaper oil and the recovery of the euro area to offset the downward pressure of the Russia-Ukraine crisis. The total revenue of the companies in the SEE TOP 100 ranking dropped, and so did their combined net profit. Most of the negative score was posted on the balance sheet of the heavyweights – the energy companies. At the same time car and car parts makers firmed their positions as the new pace setters.

The Top 100 list ranks the 100 biggest companies registered in Albania, Bosnia-Herzegovina, Bulgaria, Macedonia, Moldova, Romania, Slovenia, Serbia, Croatia and Montenegro.

The other Bulgarian companies on the list are: Aurubis Bulgaria AD (8), Lukoil Bulgaria EOOD (13), the National Electricity Company (15), Bulgargaz EAD (41), CEZ Elektro Bulgaria AD (47), OMV Bulgaria OOD (49), Kaufland Bulgaria EOOD & Co KD (61), Saksa OOD (82), Kozloduy NPP EAD (92) and the Bulgarian Telecommunications Company AD (95).