EU Industrial R&D Investment Scoreboards 2011

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the attractiveness of the countries and regions. Asia (excluding Japan)appears as the most attractive region for manufacturing PV and wind energycomponents whereas the EU is most attractive for R&D and pilot activities.The EU and the US are both attractive for R&D and demonstration activitieson CSP. In addition, the potential of these industries to generate employmentin the EU is strongly affected by the requirements in non-EU countriesregarding local content or location.• It is a main policy challenge for the EU to improve conditions to keep a strongmanufacturing base and related technological development in alternativeenergy industries to reap the full benefits in terms of value added and jobs.Table 13. Ranking of companies in the Alternative Energy sector. top 15 industrialsectors by overall one-year R&D growth for the EU, US and Japanesecompanies in the 2011 Scoreboard.Company, countryR&D2010,€ mR&D change (%)1 year 3 yearsSales2010,€ mSales change(%)1 year 3 yearsVestas Wind Systems, Denmark 358.0 49.8 44.4 6920.0 4.3 12.5SMA Solar Technology, Germany 78.0 45.9 61.4 1920.1 105.5 80.3First Solar, USA 70.7 21.3 84.4 1910.9 24.1 72.0Renewable Energy, Norway 48.0 1.4 31.0 1781.4 51.7 27.9centrotherm photovoltaics, Germany 42.4 49.3 79.3 624.2 22.6 55.4Sunpower, USA 36.6 55.1 53.5 1662.5 46.3 42.2LM Wind Power, Denmark 34.5 30.7 24.7 727.5 -6.4 7.9Nordex, Germany 31.9 13.4 22.8 972.0 -17.8 9.2Roth & Rau, Germany 29.7 89.0 156.4 285.4 44.2 25.0Q-Cells, Germany 24.3 -1.6 12.2 1357.5 69.3 16.5SolarWorld, Germany 17.1 68.1 33.8 1304.7 28.8 23.13w Power, Luxembourg 16.5 276.9 306.0 177.0Hansen Transmissions International,Belgium 12.9 -13.6 8.9 455.2 -14.5 2.6PV Crystalox Solar, UK 10.9 33.1 30.4 252.6 6.4 -6.3Solon, Germany 5.8 52.6 14.2 622.6 75.7 7.4Total Alternative Energy sector 817.2 39.4 44.1 21102.5 23.1 22.1Source: The 2011 EU Industrial R&D Investment Scoreboard.European Commission, JRC/DG RTD46The 2011 EU Industrial R&D Investment Scoreboard
6. Fast growing companiesThis chapter presents an analysis of Scoreboard companies that have grownfast over the past 8 years either in terms of net sales, employment and/or R&Dinvestment. Fast-growing companies are identified by industrial sector andcountry, and their main characteristics are compared with their counterparts intheir respective industrial sectors.Key findings• A relative high number of fast growing companies have been identified in asample of Scoreboard companies over the period 2002-2009. This wasunexpected given that the Scoreboard sample is mainly populated by largefirms with only a limited number of SMEs.• Most of the fast growing companies are found in three high R&D-intensitysectors and a large proportion of them are based in the US, in particularthose showing fast growth in terms of sales. This illustrates the highdynamism of high R&D intensity sectors in the US.• An analysis of the recent performance of the top fast-growing firmsillustrates the importance of paying attention, not just to the speed of growthof a specific company but also to the sustainability of such growth over time.• EU based fast-growing companies in the biotech and in the software sectorsare smaller in numbers and in size when compared with US ones. Moreover,EU companies appear to be more R&D intensive and show lower profitabilitythan the US ones.• The analysis of the sample of a larger set of 1000 EU companies shows thatthe number of fast-growing companies in high R&D intensive sectors isrelatively higher among the larger ones (measured in terms of sales andemployees).6.1. Fast-growing companies in the policy spotlightOne of the major issues of the new research and innovation European agendaconcerns firms which are "fast-growing innovative enterprises". The share ofthese companies in Member State's economies has been proposed as a newheadline indicator to measure innovation, as complement to the R&D intensityindicator and its associated target of 3% of GDP. The need to improveframework conditions and access to capital in order to remove obstacles to thegrowth of innovative companies in Member States has been explicitlymentioned in the European Annual Growth Survey, presenting the course ofactions to exit from the crisis and to progress towards the Europe 2020objectives.47The 2011 EU Industrial R&D Investment Scoreboard 47
Page 6 and 7: Figure S1. One-year R&D investment,
Page 8: The specialisation of EU companies
Page 11 and 12: A high number of the companies in t
Page 13 and 14: 1. IntroductionThe 2011 "EU Industr
Page 15 and 16: Table 1. Profile of the 2011 Scoreb
Page 17 and 18: 2. OverviewIn the last year compani
Page 19 and 20: Survey on R&D investment by the EU
Page 21 and 22: 3. Top R&D investing companiesThis
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Page 25 and 26: Dynamics of top R&D companiesEvery
Page 27 and 28: 4. R&D distribution by regionThis c
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Page 31 and 32: R&D Trends of companies in Member S
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5.2 Ranking of the top 1000 non-EU
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R&D InvestmentNet SalesR&D/NetSales
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EU Industrial R&D Investment Scoreboards 2011

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