Cash balance of EMEA companies at nearly $1.21trln; Saudi Aramco tops the list | ZAWYA MENA Edition:
Rated non-financial companies in the Europe, Middle East and Africa (EMEA) region held nearly €1.1 trillion ($1.21 trillion) in total cash at the end of 2018, thanks to a significant increase in the cash holdings of the top 10 corporate companies worldwide, led by Saudi Aramco, in 2018.
The corporate cash pile of EMEA non-financial companies in 2018, according to a Moody’s Investor Service report, climbed 15 percent compared to €941 billion ($1040.4 billion) at the end of 2017. The ratio of cash to revenue, which is more comparable year-to-year, was at 14.2 percent in 2018, which was the average for the past seven years, the Moody's report noted.
The cash holdings of the top 10 companies worldwide leapt by 30 percent to €260 billion in 2018 with oil giant Saudi Aramco topping the list.
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