Two Cypriot firms on Europe’s fast-growers list
Two Cypriot companies have made it onto this year’s list of the 1,000 fastest-growing European businesses, a chart compiled on an annual basis by British newspaper Financial Times in collaboration with the German data analysis company Statista.
The list ranks companies based on their compound annual growth rate (CAGR) for the period of 2019-2022.
The fastest-growing Cypriot company, ranked 562nd on the list, is Theon International, founded in 1997 and operating in the aerospace and defense sector, with a CAGR of 57.8% and 247 employees (in 2022).
Following closely at 678th place is the second Cypriot company, Intergo Telecom, from the media and telecoms sector. Established in 2016 with 25 employees, it recorded a growth rate of 50.3%.
The largest representation in the list comes from technology and software information companies, with 188 entries.
Construction companies follow with 94 entries and e-commerce companies with 78 entries, down due to the easing of pandemic restrictions. In fourth place are energy and utility service providers, with 69 entries.
