Oil companies once more lead the ranking
The region’s top 500 companies un US-dollar revenue terms
The sour performance of Latin Trade’s 500 in 2014 –the ranking of Latin America’s 500 largest non-financial firms in US-dollar revenue terms– reflects the hurdles faced by the region’s businesses last year.
While total revenue dropped 7 percent in the period, to $2.54 trillion, profits plunged 46 percent, to $82.3 billion, EBITDA (earnings before interests, taxes, depreciation and amortization) declined 6 percent, to $253 billion, and total assets reached $2.99 trillion.
There were several changes in the ranking, but the top three places remained occupied by energy-sector giants PDVSA, Petrobras and Pemex. The three corporations combined posted $363 billion revenue, 2 percent down from 2013–a moderate decline vis-a-vis the sizeable drop in world oil prices.
The energy sector as a whole (which accounted for a third of the ranking’s total revenue) experienced average revenue growth of 3 percent last year, totaling $775.8 billion, while profits contracted by an average of 15 percent, reaching $2.9 billion. Larger firms, such as Argentina’s YPF saw their revenue and profits soar 20 and 34 percent, helped by domestic sales of oil derivatives, whereas those dedicated exclusively to exploration suffered the most, as in the case of Ecopetrol (Colombia), whose revenue and earnings plunged by 20 and 54 percent.
Retailers’ revenue fell by an average of 5 …
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