- Workers assemble cars at a Volkswagen plant in Mexico.
- An Exito store in Colombia, part of Groupe Casino.
Nokia continues to see steep declines in revenues.
The latest Multinational Index from Latin Business Chronicle reveals strong quarterly growth for companies operating in the auto and energy sector, although consumer markets also performed well. The index measures quarterly performance of 25 multinational companies with regional operation, based on their revenues in dollar terms. This quarter was a much better one for these companies than the first quarter of the year, with an average revenue growth of 11.2 percent, and total revenues of over $62 billion – $6 billion more than the same quarter of 2012.
The leader in year over year growth is France’s Groupe Casino which saw revenues up 107.6 percent over 2012, largely due to the company’s acquisition of Brazil’s Grupo Pão de Açucar in late 2012. Pão de Açucar is the Brazil’s second-largest retail company and second-largest online retailer. Other Groupe Casino subsidiaries control major market share in Argentina and Uruguay’s retail market, and through Éxito are the largest retailer in Colombia. The company saw revenues of $7.9 billion in 2Q13, making them the second highest-earning company in our index after Spain’s Telefonica (with revenues of $9.7 billion).
Meanwhile, French retailer Carrefour saw a slight dip in their revenues, down 5.7 percent to a little over $5 billion. This owes to the sale of their Colombian operations to Chilean retailer Cencosud rather than a dip in sales.
The two automakers on our list, …
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