ICAP Romania provides the top of the most profitable and best performing companies based on 5 objective criteria

On the 17^th of December, ICAP Romania will publish the top of the most profitable and best performing companies in Romania, during the “True Leaders” awards online Gala. This year, beside the 4 traditional criteria, being an unprecedented year, ICAP Romania took into consideration a new criterion for evaluating all companies in the most objective way possible.

The methodology for selecting the companies for the True Leaders Event

The awarded companies must simultaneously fulfill the next 4 criteria:

1. Are part of the most profitable 500 companies in Romania (based on EBITDA at December 2019)
2. Have the highest EBITDA in their industry
3. Record an increase or at least the same number of employees as previous year or an increase (after having excluded the ones with less than 10 employees in 2019)
4. Fall within the A1-B2 ICAP Scoring bands* (Very Low risk band and Low risk band) and have values greater than 70 for ICAP COVID Company Index**;

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The first step in the selection process is to create a top based on EBITDA, calculated according to December 2019 financial data. State owned companies are excluded from this selection, as well as banks, insurance and non-banking financial institutions.

Out of these 500 companies, the True Leaders awarded companies will be selected.

The industries are formed based on the companies’ main activities. The industry is given by the main NACE code declared by the companies, the NACE division or group of activities. The selection between the NACE division (first two digits of the NACE code), group (first 3 digits of the NACE code) or NACE code is made based on the diversity of activities comprised within the same division.

Scored companies:

• Have the legal form of a company (examples: S.A., S.R.L., S.C.S.)
• Companies that do not belong to the following industries: banking, insurance and other related activities, as these companies declare their financial data differently than all other types of corporations
• Are active companies according to the Trade Registry assigned status

*ICAP Score expresses an estimation of a company’s credit quality with respect to the probability of default and/or bankruptcy within a 12-month horizon. This estimation is based on an analysis of commercial, financial and transactional data derived from official sources of the assessed companies.

** ICAP COVID Company Index denotes the companies’ adjusted creditworthiness assessment over the next 12 months which is triggered as a result of the Covid-19 pandemic and the effects of the lockdown measures and suspensions imposed on economic activity for each evaluated company. Ιt combines the existing assessments on companies’ credit quality, ICAP Score and the ICAP Covid Sector Index, an industry sector impact assessment, depicting the severity of impact and its recovery potential.

The assessment results are presented in a 0-100 score scale, where score 0 represents companies that have the highest probability of default, and 100 represents companies with the lowest probability of default.

ICAP COVID Sector Index expresses the current assessment on the effects of the lockdown measures and suspensions, imposed on economic activity as a result of the COVID-19 pandemic, per activity sector, taking into account the likelihood of recovery, within a 12-month horizon.

More details, including the list of the top 500 most profitable companies in Romania together with the analysis of financial data, can be found on www.icap.ro in the True Leaders Conferences section.

ICAP Romania is a member of the ICAP group of companies, the most important business intelligence group in South-Eastern Europe and the only company in Romania accredited by the European Securities and Markets Authority as a “Credit Rating Agency”.