BuyAssociation is named the 325th Fastest Growing Company in Europe in 2024
This year’s FT-Statista annual ranking of Europe’s fastest-growing companies reflects the shifts in corporate fortunes as the region’s businesses have sought to manage, and then recover from, the impact of Covid-19. BuyAssociation has been named in the list.
The FT 1000 ranking, compiled with German research company Statista, showcases those European companies that have grown fastest in the face of all these challenges. They are listed in order of highest compound annual growth rate (CAGR) in revenue over the period 2019 to 2022. This year, a minimum average growth rate of 36.9 per cent required 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 2019;
- Revenue of at least €1.5mn generated in 2022;
- An independent company (not a subsidiary or branch office of any kind)
- Revenue growth between 2019 and 2022 that was primarily organic (ie “internally” stimulated);
- If listed on a stock exchange, having a share price that has not fallen 50 per cent or more since 2022.
The FT 1000: Europe’s Fastest Growing Companies ranking is a list of 1,000 companies in Europe with the highest percentage growth in revenues between 2019 and 2022.
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.
Key Locations:
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, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom.
Geographically, the best represented countries are the same as last year. Italy maintains its lead, with 304 high-growth companies — a result that extends its lead over its closest competitor, Germany, with 198. The Netherlands climbs to sixth place, and neighbour Belgium enters the top 10 for the first time.
And London has retained its position as the city with the highest number of fast-growing companies for the eighth consecutive year, with 70 businesses on the ranking. That is down on the previous year’s 84, though. Milan moves into second place, with 43, while Paris slips to third, with 39.
Key Industries:
IT and software groups will feature prominently as, again, they are the best represented in the ranking, with 189 entries — up from 176 last year. Construction companies are the second most featured, with 92 entries — surpassing last year’s 87 and not yet affected by Germany’s faltering building sector. But ecommerce businesses slip to third place, with 79 companies — down from 95 in 2022 — reflecting a return to physical stores as pandemic lockdowns were lifted.
Companies interested in participating in the next edition of the FT 1000 can register here. The application period will start in October 2024.
Fintech and financial services are fourth place, with 68 companies. Energy and utilities are the fifth best placed, with 67 companies — up from sixth place in the previous ranking. Their rise can be partially attributed to the EU Green Deal, its financing programme to accelerate the transition from fossil fuels, as well as efforts to diversify energy supplies in response to record-high oil and gas prices following Russia’s invasion of Ukraine.
BuyAssociation is very pleased to have been named in the FT 1000 Europe’s Fastest Growing Companies 2024.
