Food companies gain prominence in the ranking prepared by the Superintendency of Companies.
Three supermarkets, a shrimp exporter, a pharmacist, a food processor and a telephone company are among the 10 companies with the highest revenue, according to the 2021 Ranking of the Superintendency of Securities and Insurance Companies (Supercías).
For the third year in a row, Favorite Corporation leads the list with $ 2,170,602 million in total revenues. Follow him El Rosado Corporation with $ 1,249,085. This supermarket moved to third place Ecuadorian Telecommunications Consortium (Claro) which recorded a total income of $ 1,066,241 million.
They follow him Ecuadorian Pharmaceutical Distributor (Difare) Y National Food Processor (Pronaca) with more than $ 800 million. Difare went from seventh place in the 2020 ranking to fourth place this year. Then there are Dinadec SA and Tiendas Industriales Asociadas TIA SA. with more than $ 700 million. The first climbed one position in relation to last year and the second two.
The list is closed Shaya Ecuador S.A. (conducts oil and gas operations), Industrial Pesquera Santa Priscila Y Primax Comercial del Ecuador, in that order. In the case of Santa Priscila, a rise of two positions is reflected in relation to the previous year and for the first time it was located within the top 10. The company, recently, became the first exporter of shrimp to the United States on a global scale .
For the economist Héctor Delgado, it is understandable that the supermarkets and Difare have maintained their places or promoted in this list because the pandemic continues to boost their sales: “Food and health is what the population has prioritized and that is where it has directed its resources. In that list are the companies that were winners with the pandemic and (if they did not win) they were not losers either. Your income was maintained or increased”.
In addition, it indicates that although Claro fell, it remained within the top 10, since the internet became very important due to the pandemic and was no longer a non-priority expense due to teleworking and tele-education. “Unlike cable companies where people saw the possibility of reducing their expenses by suspending service, others suspended cable and hired internet or improved their plans”, he says.
Supermarkets, telephone and pharmaceutical companies, among the ten companies that registered the most income in Ecuador in the 2020 ranking
Meanwhile, in the ranking of ten companies with the highest net profit the protagonists change. To calculate this item, companies must subtract expenses and taxes from their income. The list is led by AB Inbev Holding Ecuador with $ 236’122,092, according to Supercías. Then Favorite Corporation appears with $ 147′499,234, followed by Shaya Ecuador SA with $ 133′709,258 and Claro with $ 106′826,750.
Then the cement company Holcim appears, ENAP Sipetrol SA (carries out hydrocarbon activities), Consorcio Shushufindi SA (petroleum) and GISIS SA (balanced feed production). The list is closed by Farmamia and Cervecería Nacional, which register net profits of more than $ 50 million.
These are the 50 companies in Ecuador that generated the most sales in 2020
For Delgado, it is not alarming if a company registers profits in the middle of a pandemic, since they are designed to make profits. He affirms that the most important thing is to know what the level of liquidity of the companies is: “Making a profit does not mean that a company is doing well. A company with losses can continue operating, but without liquidity it is on the verge of collapse”. He affirms that the figures must be analyzed with measure and exposing each case.
The economist Carlos Cruz agrees with this. He adds that both revenues and profits should not be “demonized” as long as companies create adequate jobs and pay fair wages: “There are companies globally that have increased their income at the cost of poorly paid their workers through outsourcing. That must be prevented from happening in Ecuador”. It indicates that the national ranking of companies for 2022 could change due to the economic laws that have been recently approved by the Government. (I)
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