The Financial Times assembled the list of Europe’s 1000 fastest-growing companies for the third year in a row. Hungary did particularly well this year with seven companies that made it to the list, securing an excellent place compared to most other countries in the region.
According to mfor.hu, the list features companies that show the greatest increase in revenue between 2014 and 2017. Hungary is in a respectable position compared to other countries in the region – except for one country, Poland, who are ways ahead of Hungary.
Financial Times and the statistical office called Statista assembled the list by calling for applicants both online and in their print editions. Between September 1st 2018 and December 31st 2018, thousands of companies that appeared in various databases and met the criteria were invited by Statista and the Financial Times, besides the companies that applied themselves.
The list features the most companies from the tech sector – 149 companies to be precise, and all this without companies that belong to the fintech or e-commerce sectors.
In terms of countries, Germany is in the lead with 230 companies while, in terms of cities, it is still London that is in the first place, with 63 companies.
However, it is interesting to note that last year, London led the list by 74 companies, compared to which the 63 companies of this year show a significant drop. This number could further decrease due to Brexit uncertainty.
As for Hungary, the seven companies that got featured are as follows:
- Telecommunication company Optiwella is in 444th place, with a growth of 69.9%, while their absolute revenue increased by 391 per cent.
- Next comes GD Betrieb, the e-commerce company also known as kockashop.hu, in 573rd place total, with a growth of 59.2% and a revenue increase of 304%.
- The customer service company called Humán-Társ ended up in 615th place, with a growth of 56.9% and a revenue increase of 287%.
- Lumenet, another e-commerce company, came in 739th place, with a growth of 50% and a revenue increase of 237%.
- With a growth of 46.5% and a revenue increase of 213%, the tech company Starschema ended up in 802nd place.
- Amplio Automatika, the company dealing with cars, secured the 806th position on the list, with a growth of 46.3% and a revenue increase of 2130%.
- Last but not least, the Hungarian NeoCons Plus company significant for agriculture ended up in 860th place, with a growth of 43.1% and a revenue increase of 193%.
When compared to neighbouring countries, Hungary still achieved great results. Austria has only six companies on the list, one of which is behind all seven of the Hungarian companies. Three Romanian companies made it onto the list, though all of them come before the Hungarian ones. Slovakia has four, Croatia has three, and Slovenia has two companies on the list – check out the details here. However, it was Poland that came out with the best results – 22 Polish companies are featured on the list, most of them from the tech sector.