Publish in Special Reports - Tuesday, April 16, 2013
Sales of Novo Gol in Brazil are helping make Volkswagen one of the fastest-growing multinationals in Latin America
Latinvex looks at last year’s results at 50 foreign multinationals.
BY JOACHIM BAMRUD
European companies are benefiting from growing sales in Latin America to help offset weak results in their home markets, while US firms are also seeing a boost in the region, according to a Latinvex analysis of data for more than 50 companies that have released 2012 results so far.
The list includes 28 US companies and 22 European firms, with combined Latin America revenues of $418 billion last year.
French retailer Groupe Casino posted the highest growth in Latin America revenues among foreign multinationals last year.
Apart from Casino, the big winners in Latin America revenue growth last year were German automaker Volkswagen, Swedish appliance maker Electrolux and US broadcaster DirecTV.
Meanwhile, US-based oil services companies Weatherford, Halliburton and Schlumberger also were among the top growth winners.
On the opposite end are five US companies led by tire maker Goodyear, which posted a 15.6 percent drop in revenues last year. Other growth losers include Praxair, NII Holdings, Ford and AES.
REVENUE WINNERS & LOSERS
Casino’s Latin America revenues jumped ...