The Latin 500 of 2014
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8th July 2014

Is mediocrity setting in? Nearly half of the 500 largest companies in Latin Americareported drops in revenues. However, some new leaders appeared. What are their secrets for success? As we predicted, Latin Holdcos responded well in this challenging environment.
By Álvaro Moreno
The revenues of the 500 largest non-financial companies in Latin America fell by 4.5 percentduring the past year, and profits were down 6 percent. In the midst of this severe decline, more than 30 companies, half of them in the energy sector, suffered revenue reductions of more than 20 percent. The sudden stop in revenue growth of the largest companies was widespread after five consecutive years of substantial increases. In fact, more than half of the Latin 500 – 58 percent – saw their revenues head south between 2012 and 2013.
The energy sector and manyof its related industries slowed during 2013, mainly due to factors outside of the region, such as the slide in the prices of petroleum and its derived products. In fact, the three largest Latin America companies, the oil companies Petrobras, Pemex and Pdvsa, which together account for 15 percent of the Latin 500 revenues, showed a revenue downturn in the order of five percent. Moreover, two of every three energy companies in Latin America reported diminished revenues in 2013, and that’s the sector in which one-third of all revenues of the 500 largest were concentrated during this period.
Despite the negative effects of this reality, by …

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