Discover which companies are leading Serbia’s Non-specialized Wholesale Trade market.

The Serbian Non-Specialized Wholesale Trade sector (NACE 4690) plays a crucial role in the country’s economy, contributing EUR 10bn of revenues. In this sector, revenue levels significantly impact company valuations, while operational efficiency and debt levels determine financial health. Our latest analysis dives into the key players and trends shaping this industry.

Key Insights from Our Analysis:

Most Valuable Company:

✅ Nelt leads the valuation rankings, driven primarily by its robust revenue levels. The runners-up in this category are Vimeksim and Agromarket, both of which hold strong positions in the industry.

Revenue Growth:

✅ While revenue remains the primary factor influencing valuations, past growth trends tell a different story. Companies like Virom and Mondelez stand out as top performers in terms of revenue growth, showcasing their ability to expand in the market.

Profitability Trends:

✅ EBITDA margins range between 1% and 11%, indicating a relatively clustered profitability distribution.

Positive Outliers:

✅ Some companies outperform the industry norm. Virom and Bekament stand out with EBITDA margins exceeding 12%, showcasing strong operational efficiency and profitability.

Negative Outlier:

❌ Elixir Group presents an interesting case—despite having a positive EBITDA margin of 1.4%, its valuation is negatively impacted due to its high debt burden.

Key Takeaway:

The Serbian wholesale trade sector is a mix of established market leaders, steadily profitable companies, and rising challengers. However, companies with high debt levels face difficulties in maintaining strong valuations despite having positive margins.

📝 A Note on Future Performance

This analysis is based on historical data from FY 2023, and future market conditions may alter the rankings. It covers a wide array of companies and business models, ranging from wholesale of food, FMCG, agriproducts, fashion, and construction materials but excludes arms and ammunition traders.

Explore the Full Report

Want to dive deeper into the valuation insights, financial metrics, and industry trends? Check out our full report here:

👉 Most Valuable Companies – Non-Specialized Wholesale Trade

💬 What’s Next?Which sector should we analyze next? Let us know your thoughts in the comments or send us a message!

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