Favorite Corporation, for the fourth consecutive year, leads the list of companies with the highest income according to the 2022 Ranking of the Superintendence of Companies, Securities and Insurance (Supercías). This company achieved 2,178 million dollars in revenue. follows him El Rosado Corporation with 1,294 million dollars. This supermarket maintained second place for the second consecutive year.
With 1,043 million dollars of income appears Santa Priscila Fishing Industry. This shrimp company moved from third place to Ecuadorian Telecommunications Consortium SA (Claro), which is currently fourth with 1,006 million dollars (same item that it achieved in 2021). Santa Priscila has managed to climb positions, since the previous year it was in ninth place in the ranking.
The 10 companies with the highest income in Ecuador in 2021
In fifth place is National Food Processor SA (Pronaca) with $966 million in revenue. Pronaca maintained its location in relation to 2021.
the miner follows Equacurrent (sixth place). This company manages the Mirador mine in Zamora Chinchipe and mainly exports copper. It is the first time that a company of these characteristics appears on the list of the Supercías.
Dinadec SA, With $881 million in revenue, it ranked seventh this year. follows him Primax Comercial del Ecuador Limited Company. The list is closed Ecuadorian Pharmaceutical Distributor SA (Difare) Y Shaya Ecuador S.A. In the case of Difare, a drop is recorded in its location, since in the ranking last year he was in fourth place.
For the economist Carlos Cruz, it is understandable that supermarkets remain at the top of the list, since even in times of economic crisis the population does not stop buying food. He affirms that the rise of shrimp companies is a reflection of the momentum that exports of the crustacean have taken to markets such as Europe and Asia.
He adds that it is understandable that pharmaceutical companies such as Difare have lowered positions in the rankingsince the most complex part of the pandemic has passed, and with it the demand for medicines: “Although there are still spikes in COVID-19 cases, the situation is not as complex as in 2020 or 2021, so people stopped buying medicines to combat this virus.”.
Meanwhile, the fact that mining companies such as Ecuacorriente begin to appear on these lists demonstrates the “positive impact” of this industry in the country, says María Eulalia Silva, executive president of the Ecuadorian Chamber of Mining (CME).
“We have had mining since pre-colonial times, but it has been small, artisanal. However, Ecuador begins large-scale operations in the second half of 2019. Until before 2019, mineral products reached a maximum of 200 million dollars in exports per year, but by 2021 more than 2,000 million dollars were exported and in 2022 , from January to September, we already exported more than 2,100 million dollars. This year we are going to finish very closely with bananas. Undoubtedly, we are the fastest growing sector in the economy”, he points out.
In fact, if one analyzes the ranking of companies by net profits Ecuacorriente, with 267 million dollars, and Aurelian Ecuador SA (which manages the Fruta del Norte mine and mainly exports gold), with 201 million dollars, appear in fifth and sixth places, respectively. This list is led by Distribuidora y Comercializadora Villafuertes and others, which achieved $1,906,377 in profits, according to Supercías.
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“Mining should no longer be seen as just another sector of the economy, but rather as the sector that is growing the most and we have these results thanks to only two industrial mines. The question is what is going to happen when we have six, ten or 20 industrial mines working? We want to contribute to the development of this country and we are already doing it, it is no longer a chimera”, indicates Silva.
According to the executive, Zamora Chinchipe, the province where Mirador and Fruta del Norte operate, has managed to reduce poverty by 13 points: “Thirteen out of every hundred Zamoranos have stopped being poor and have become middle class with all the benefits that that implies at the level of education, nutrition and planning”.
Despite these positive indicators, large-scale mining has received strong criticism from environmental groups, accusing the large mining companies of polluting, deforesting and dividing the communities that settle in the vicinity of the mine. However, Silva rejects these accusations and affirms that “it is not all” the environmental or indigenous groups that oppose mining.
“Fruta del Norte has an agreement with Conservation International to develop, as they are doing, a model that brings production, development, but is also responsible with the environment. The Shuar Federation of Zamora Chinchipe appreciates the presence of mining because they never had a development alternative and now they have been getting to know it and now they are allies”, he points out. (YO)
The ranking is prepared by the Supercías with information provided from the financial year of 2021 and only from active companies.
Source: Eluniverso
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