Hyntelo among the FT 1000 Europe’s fastest-growing companies 2023
Hyntelo is proud to announce that it has been ranked among the 1.000 Europe’s fastest-growing companies in 2023 by Financial Times and Statista, for the third year in a row. A big achievement that confirms and recognizes the company’s commitment.
From the original FT article:
“The latest FT/Statista ranking of Europe’s fastest-growing companies has been published just as Russia’s war in Ukraine enters its second year — but it is the enduring impact of Covid-19 that is evident in this survey.
As it is based on revenue growth at European companies in the three years to 2021, the ranking below shows how many businesses thrived despite the pandemic — or, in many cases, because of it. As Covid-19 restrictions and global supply chain disruptions lasted into a second year, companies across Europe suffered a double blow of lost sales and rising costs in 2021.
In particular, consumer-facing businesses involved in tourism, hospitality, and retail struggled to survive the impact of lockdowns despite government aid programmes. But, for others — notably in technology and ecommerce — lockdowns were a boon to business, as homebound consumers working and shopping online accelerated digitalisation across sectors.”
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.
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.
