OREANDA-NEWS. September 11, 2009. Metinvest has taken a leading position in terms of revenue in TOP-500 ranking of the largest companies across the Central European region, according to Deloitte, the international accountants and consultants, reported the press-centre of SCM.

Deloitte surveyed the largest companies in eighteen European counties.

TOP-500 ranking survey has been conducted by Deloitte, a leading auditing, accounting and consulting firm in the field of taxation and corporate finance. TOP-500 provides an outlook on the business development in the country, enables to identify the leaders, reveal the balance of powers, and demonstrate progress of the company in the areas of presence. Ukrainian enterprises were mainly presented by energy and resources, mining, industrial and transportation companies. In total, 52 Ukrainian companies were surveyed for TOP-500ranking.

Despite the challenges of the crisis, the auditors were able to rank Metinvest high thanks to consistent implementation of its long-term strategy and ability to adjust its interim expectations in time. Ukraine gained the highest level appreciation thanks to participation of large metallurgical assets in the ranking.

At the same time, Deloitte experts sounded a note of warning about economic situation in Ukraine, as some companies preferred not to provide any data for the ranking, whereas revenues of others plummeted by over 30%. According to Deloitte experts, Ukraine along with Estonia, Lithuania, Latvia, Macedonia, Serbia, and Hungary will face particular challenges in combating recession.

"According to TOP-500 ranking, Ukrainian companies are successfully present in almost all important sectors. This is an evidence of Ukrainian business diversification" - says Vladimir Vakht, a Managing Partner of Deloitte.