Balkan News

Construction sector tops ranking of most profitable companies in Albania

02 december 2024

In English, In Albanian, In Macedonian, In Serbian, In Romanian, In Bulgarian

The construction sector has overtaken concessions in profitability in Albania for the first time, BalkanEngineer.com has learned from Monitor.al's annual report, which ranks the country's 200 most profitable companies. In 2023, the average profit margin of construction companies reaches 27%, compared to 22% in 2022. The list includes 40 companies in this sector whose overall profit growth is 45% for the second consecutive year.

The total profit of the companies in the ranking amounts to 178 billion Albanian lek (ALL), an increase of 3% compared to the previous year. The most profitable company for 2023 is the state-owned energy corporation KESH, which reports a profit of 13.5 billion ALL after a loss of 27 billion ALL in 2022. Trans Adriatic Pipeline AG Albania takes second place with a profit of 8.3 billion ALL.

The banking sector also recorded historic gains - Raiffeisen Bank took fourth place with an increase of 73% and a profit of 7.8 billion ALL.

Health tourism and the hotel sector are also showing growth, but are affected by the fall in the value of the euro, which reduces revenues. At the same time, the industry is suffering from competition from cheap imported goods and increased labour costs, reducing profit margins to a historically low 5.5%.

The report highlights that while construction dominates in profitability, the country's economic sustainability depends on diversifying investment and supporting traditional industries.

Photo source: Engineer.bg via Canva.com

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