The most dynamically developing companies on the Financial Times’ FT1000 list
In 2023, our company was included in Financial Times’ list of the top 1000 fastest growing companies in Europe. The list has been published for the seventh time compiled upon the data collected and verified by Statista.
Altogether 14 companies from Hungary were included in the list, and merely two of them belong to the IT & Software category although this is the most dominant of the sectors by a total of 176 companies represented.
Unsurprisingly, companies dealing with e-commerce (95) and wholesale trade (87) are still overrepresented, as are construction and engineering companies (53), reaching together a 23,5% rate on the list.
Methodology*
The FT 1000: Europe’s Fastest Growing Companies is a list of the top 1,000 companies in Europe that have achieved the highest percentage growth in revenues between 2018 and 2021.
The ranking of the FT 1000 was created through a complex procedure. Although the search was very extensive, the ranking does not claim to be complete, as some companies did not want to make their figures public or did not participate for other reasons.
The project was advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Financial Times. In addition, through research in company databases and other public sources, Statista has identified tens of thousands of companies in Europe as potential candidates for the FT 1000 ranking. These companies were invited to participate in the competition by post, email and telephone.
The application phase ran from October 1 2022 to November 30 2022.
The submitted revenue figures had to be certified by the chief executive, the chief financial officer, or a member of the executive committee of the company. Companies with three employees or fewer, or companies that are not a legal entity, were subject to additional checks to verify their revenue numbers.
Interesting facts from the FT 1000 list
On the FT 1000 list, Tripledot Studio, operating in the United Kingdom, became Europe’s fastest growing company with 794.7% based on the CAGR calculation. The company’s success is largely due to the pandemic lockdowns, since this period people mainly preferred games available on PCs and mobiles as home entertainment, and the company develops and sells such applications.
Most of the companies on the list operate in Italy (260), while the second and third most successful in this regard are Germany (217) and the United Kingdom (155).
In terms of cities, London retained its top position with 83 ranked businesses. The French capital, Paris, took second place, and Milan took third place.
In this year’s FT1000 ranking 356 companies can be found that also were on the list last year, and 125 of them have been among the top 1000 fastest growing European companies for three consecutive years.
Criteria for inclusion
To be included in the list of Europe’s fastest growing companies, a company had to meet the following criteria:
- Revenue of at least €100,000 generated in 2018
- Revenue of at least €1.5mn generated in 2021
- The company is independent (the company is not a subsidiary or branch office of any kind)
- The revenue growth between 2018 and 2021 was primarily organic (ie “internally” stimulated)
- If a company is listed on a stock exchange, its share price has not fallen 75 per cent or more since 2021
Companies with headquarters in these countries were eligible to participate: Austria, Belgium, Bulgaria, Bosnia and Herzegovina, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom.
Calculation of CAGR
The calculation of company growth rates is based on the revenue figures submitted by the companies in the respective national currency. For better comparability in the ranking the revenue figures were converted into euros. The average exchange rate for the financial year indicated by the company was used for this purpose.
The compound annual growth rate (CAGR) was calculated as follows:
((revenue2021 / revenue2018)^(1/3)) — 1 = CAGR The absolute growth between 2018 and 2021 was calculated as follows: (revenue2021 / revenue2018) — 1 = Growth rate
Evaluation and quality assurance
All data reported by the companies was processed and checked by Statista. Missing data entries (employee numbers, address data etc) were researched in detail. Companies that did not fulfil the criteria for inclusion in the ranking were deleted. The minimum average growth rate required to be included in the ranking this year was 36.2 per cent.
*information released on Financial Times’ website
Success in focus
The success of our business is largely due to our efforts in terms of sustainability, the continuous expansion of the team, the company’s management principles and, of course, last but not least, our customers and professional partners.
This success and the aspirations and results behind it are also reflected in domestic and international recognitions such as our appearance on the Financial Times growth list, the Kaposvár Employer of the Year award, and the Family-Friendly Workplace certificate that we have obtained on several occasions.
Learn more about our certifications and awards we are proud of.
Join us
If you would like to take part in our success and join our team, it is definitely worth checking out our open job positions.
Let’s grow faster together
Our customers and partners who already share in our success:
