Deloitte Technology Fast 50 2014 Ranking

• The average growth rate of CE’s Fast 50 technology companies rises to 698% from 671% in 2013
• Companies from 10 countries are represented
• 26 companies enter the ranking for the first time, 10 move up and 14 move downwards
• Software companies (26 entries) again lead the ranking, followed by internet (12) and telecoms/networking (6) businesses

The pace of change among Central Europe’s fastest-growing technology companies has been enormously rapid over the last year. This is clearly demonstrated in the 2014 edition of Deloitte’s CE Technology Fast 50 report, in which four of the top five companies showing the strongest revenue growth rate over the last five years (2009 – 2013) are new entries to the ranking.

Hungarian online sale of accommodation business Szallas.hu leads the way with a five-year revenue growth rate of 2259%. Next place goes to Polish financial comparison website Comperia.pl (1962%), which rises from fourth place in the 2013 report. The next three places are also occupied by new entrants: Serbia’s High Tech Engineering Center (1777%); Romanian software developer ITNT (1433%); and Polish web development agency Netguru (1386%).

 The Top 10

CE Fast 50 Eligibility criteria

Companies must meet the below criteria to be eligible for one of the categories of the Technology Fast 50.

Deloitte representatives will verify the accuracy of revenues reported by companies by comparing them against the companies’ financial statements, to be provided to Deloitte by request. Deloitte does not audit the companies nor does it analyze their financial standing.

Revenue growth is calculated in local currency. Companies must meet a minimum revenue threshold (in Euros) in order to qualify.

Participants can be public or private, and encompass all technology industry segments including:

• Biotech / Pharmaceutical / Medical equipment,
• Telecommunications / Networking,
• Computers / Peripherals,
• Internet,
• Semiconductors, components and electronics,
• Media and entertainment,
• Software,
• Greentech.

Category – Technology Fast 50

Participants must meet the following criteria in order to be eligible for the Technology Fast 50 ranking:

• Must be a technology company, defined as follows:
• an owner of proprietary technology that contributes to a significant portion of the company’s operating revenues;
• a company that devotes a significant portion of revenues to research and development of technology.

• Must have operating revenues of at least €50,000 each year (exchange rates are based on annual average given by the central bank of the company’s respective national currency). Revenue must be accounted for on a consistent basis during a period of five years.
• Must be a company that has been in business for a minimum of five years.
• Must have an ownership structure that excludes majority-owned subsidiaries of strategic entities.
• Must be headquartered within one of the following Central European countries: Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, or Slovenia or have shares listed on a European stock exchange (subsidiaries do not qualify).

Category – Rising Stars

For consideration in the Rising Star category, a company must meet the following criteria:

• Must be a technology company defined as follows: ◦an owner of proprietary technology that contributes to a significant portion of the company’s operating revenues;
• a company that devotes a significant portion of revenues to research and development of technology.
• Must have operating revenues of at least €30,000 (exchange rates are based on annual average given by the central bank of the company’s respective national currency). Revenue must be accounted for on a consistent basis.
• Must be a company that has been in business for a minimum of three but less than five years.
• Must have an ownership structure that excludes majority-owned subsidiaries of strategic entities.
• Must be headquartered within one of the following Central European countries: Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, or Slovenia or have shares listed on a European stock exchange (subsidiaries do not qualify).

Category – Big 5

For consideration in the Big 5 category, a company must meet the following criteria:

• Must be a technology company, defined as follows: ◦an owner of proprietary technology that contributes to a significant portion of the company’s operating revenues;
• a company that devotes a significant portion of revenues to research and development of technology.
• Must have operating revenues of at least €50,000 (exchange rates are based on annual average given by the central bank of the company’s respective national currency). Revenue must be accounted for on a consistent basis during a period of five years.
• Must have 2013 revenues in excess of €25 million.
• Must be a company that has been in business for a minimum of five years.
• Must have an ownership structure that excludes majority-owned subsidiaries of strategic entities.
• Must be headquartered within one of the following Central European countries: Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, or Slovenia or have shares listed on a European stock exchange (subsidiaries do not qualify).