London Stock Exchange Group (LSEG) have launched its "1000 Companies to Inspire Europe 2017" report with 5 Croatian companies featuring.
Coffee, tea and snacks company Franck, stretch film producer Bomark Pak from Ludbreg, confectionery company Kraš, transporting firm Invest Sedlic and manufacturing and engineering company Solvis were the Croatian companies to make the report.
The 5 Croatian companies identified in this year's report have average revenues of E62 million and 27% three-year compound annual growth rates. Croatian SMEs generated 4% two-year job growth, the report said.
"The report demonstrates the critical importance of high-growth private small and medium sized companies (SMEs) to future European economic growth, innovation, and job creation," LSEG said.
The report is part of broader LSEG support for European high growth companies, including business support and capital raising programme ELITE and the leading international growth market AIM.
1000 companies on the list have a compound annual growth rate of over 100 per cent over the last three years, higher than the average of 71 per cent last year.
The top 100 companies in the report have grown more than 730 per cent over last three years with the importance of Europe's manufacturing credentials underlined as 20 per cent of companies were in manufacturing and engineering sectors, which was the largest sector represented in the report.
Standout sectors for annual revenue growth also were Food & Drink (112 per cent) and Technology (65 per cent).
"Europe needs more fast-growing and innovative companies as they are the backbone of our future economic development and job creation. This is why improving the ability of dynamic SMEs to access finance is one of my priorities. We need to make sure that our rules are proportionate and fit for purpose. We should remove barriers to cross-border provision of financing and ensure that SMEs can tap capital markets across Europe," Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union said.
Xavier Rolet, Chief Executive, London Stock Exchange Group added.
"If Europe is to have a sustainable economic future, it must back its engines of economic growth and only real source of potential job-creation: its 23million SMEs. It is critical that we continue improving access and cutting the cost of finance for fast growing companies, giving them access to long-term patient equity capital to fund their enormous potential. This is an ambition we share with the EU Commission and applaud its initiative to develop deeper and more connected capital markets across the continent through the Capital Markets Union project.
"LSEG has long been committed to supporting high growth companies. Together our 1000 Companies to Inspire Europe reports, international growth market, AIM, and business support and capital raising programme, ELITE, shine a light on the fastest growing companies across the continent and their critical importance to innovation, job creation, and Europe's future economic resilience."
A full searchable database of all of the companies along with a downloadable pdf of the publication can be found online at www.1000companies.com