The full list of Europe’s 500 fastest-growing technology companies was announced during the 2003 Deloitte European Technology Fast 500 award ceremony for chief executives in the Natural History Museum, London.

Deloitte also released the 2003 Technology Fast 500 Europe Report — a comprehensive analysis of the business trends and background statistics of the winning companies, and a summary of the key concerns and expectations of sector CEOs.

The program covers public and private technology companies from 21 European countries, and is the most objective industry-ranking standard to focus on the technology sector. The awards are researched and sponsored by the Deloitte Technology, Media & Telecommunications (TMT) Industry Group.

The number one ranked company, with an average five-year revenue growth of 56.769 per cent, is all-round Internet service provider Tiscali SpA, headquartered in Italy.

The software sector increased dominance in the ranking from 36 per cent in 2002 to 42.4 per cent in 2003. The regions with the fastest growing companies are France with 171, the U.K. with 89 and Norway with 48 ranked companies.

All European Technology Fast 500 Winners achieved over 200 per cent growth average, compared to 100 per cent last year.

Revenues for the Fast 500 ranked companies as a whole grew by an average of 1,175 per cent, more than double last year’s growth rate of 528 per cent.