FT 1000: the sixth annual list of Europe’s fastest-growing companies

This latest FT-Statista ranking of fast-growing European companies illustrates the changing fortunes of some sectors since the Covid pandemic took hold, in 2020.

The companies that made the final cut were sufficiently resilient — and, in some cases, lucky — to survive a collapse in demand caused by coronavirus restrictions, trade frictions due to Brexit, and a long-running global supply chain squeeze.

This show of strength, and a growing optimism in some quarters about the global economy, mean many business leaders are confident of better performance in the forthcoming year — despite the new risks posed by labour shortages, rising inflation, Russia’s invasion of Ukraine and soaring energy prices.

Deloitte research in January showed that many UK business leaders were planning to increase investment this year, in expectation of strong UK and global demand for their companies’ goods and services. And London’s tech start-ups attracted a record $25.5bn in venture capital investment last year, more than double the level in 2020.

An in-depth FT special report about this sixth annual FT 1000 list, to be published on March 21, will analyse the extent to which current economic threats might change companies’ fortunes yet again, and assess which sectors may be in line for an “Omicron bounce” as the risks posed by the variant recede.

The ranking, compiled with Statista, a research company, lists the European companies that achieved the highest compound annual growth rate in revenue between 2017 and 2020. The minimum CAGR required to make the list was 36.5 per cent — a notch above the 35.5 per cent needed for last year’s ranking.

The full report featuring case studies and analysis will be published in print and online on March 21

In a nod to the circular economy, Swappie, a Finland-based marketplace for refurbished smartphones, has knocked Bulb Energy off the top spot this year, with a CAGR of 477 per cent. Bulb, Britain’s seventh-biggest energy supplier, went into “special administration” in November when its risky hedging strategy for managing energy market volatility led to its collapse — and forced the UK government to prop it up with a taxpayer-funded loan.

Kilo Health, a Lithuanian digital healthcare company, comes in second this year with a 2017-20 revenue CAGR of 450 per cent. Kilo is followed by OCI Group, a UK-based supply chain procurement business — which ratcheted up a CAGR of 409.6 per cent over the same period — and OnlyFans, the UK-based digital platform best known for selling user-created pornography to subscribers.

As with last year, the top 10 is made up of new entrants to the ranking. But, on the list overall, there are 306 companies that also appeared in the previous edition. A total 117 companies have won a place on the ranking in three consecutive years.

The sectoral mix this year is broadly in line with the 2021 ranking: technology leads with a fifth of companies on the list, followed by construction and retail. However, retail has boosted its share of the ranking to 8.6 per cent from just under 6 per cent last year.

Italy is the country with the most entries on the list, with 235. Second is Germany with 194, followed by the UK with 155. As with last year, London is the city with the greatest number of fast-growing companies (81), followed by Paris (34) and Milan (33).

Scroll to the bottom of the interactive table for the full methodology.