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EPIAS is the new owner of the summit in ‘Fortune 500 Turkey’ list

The net sales of the companies in the Fortune 500 Turkey 2020 list increased by 6.3% compared to the previous year and reached ₺1 trillion 939 billion.

Fortune Magazine Editor-in-Chief Sule Laleli said, “Energy Markets Operations Inc. (EPIAS) has become the new owner of the summit by overtaking TUPRAS, which has been number one in Fortune 500 Turkey for many years. EPIAS, which increased its net sales revenues by 20.3% compared to the previous year and reached ₺105.8 billion in 2020, was by far the first in the Fortune Turkey 500 list.

The results of the “Fortune 500 Turkey 2020 Research” conducted by Fortune Turkey and CRIF Turkey together since 2008 and listing Turkey’s largest 500 companies were shared at the meeting attended by Fortune Magazine Editor-in-Chief Sule Laleli, Fortune 500 Turkey Editor Ersan Taylan and CRIF Analytical Unit Manager Yavuz Arsoy.

According to the information provided, companies operating in all sectors, except financial institutions and holding companies, were examined in the Fortune 500 Turkey 2020 list. The information of the companies traded in Borsa Istanbul and sharing their data with the public were obtained from the relevant sources, and the information of other companies was obtained from them.

According to the results, the net sales of the companies included in the Fortune 500 Turkey 2020 list increased by 6.3% compared to the previous year and reached ₺1 trillion 939 billion.

Considering the 31.8% increase in 2018 and 14.9% increase in 2019, while the increase in the net sales revenues of companies slowed down in 2020, 2020 was the year in which they showed the lowest performance in terms of growth for the Fortune 500 Turkey companies in the last 10 years.

While net sales decreased by 15.1% in real terms when adjusted for PPI, the Fortune 500 Turkey 2020 Research announced that the uncertainty experienced due to the global epidemic and shocks in supply and demand revealed the negative effects in the corporate ecosystem.

“The new owner of the summit was EPIAS”

Providing information about the results at the meeting, Fortune Magazine Editor-in-Chief Sule Laleli said that the most important change took place at the top of the Fortune 500 Turkey 2020 list, which was announced for the 14th time this year and covers all sectors except financial institutions and holdings.

Laleli stated that EPIAS surpassed TUPRAS, which has been number one in Fortune 500 Turkey for many years, and became the new owner of the summit.

“In 2020, EPIAS increased its net sales revenues by 20.3% compared to the previous year and reached ₺105.8 billion, and became the first in the Fortune Turkey 500 list by far. The share of EPIAS from the total net sales revenues of the companies included in the Fortune 500 was 5.5%. EPIAS, which reached the top in terms of net sales revenues, could only rank 316th in the list in terms of profit with ₺78.5 million Earnings Before Interest and Taxes (EBIT). With the effect of the contraction in production as a result of the decrease in oil prices and the decrease in demand, TUPRAS, whose net sales revenues decreased by 29.4% compared to the previous year and reached ₺63.2 billion, fell to the second place in the Fortune 500 Turkey-2020 list. BIM, which increased its net sales revenue by 38% compared to the previous year and reached ₺55.5 billion in 2020, managed to become the third largest company in Turkey with its stable growth for many years.

Ford Automotive, one of the leading companies in the automotive industry, where a high rate of growth was experienced in 2020 compared to the previous year, increased its net sales revenues by 26.1% compared to the previous year and rose to ₺49.5 billion in the Fortune 500 Turkey list. Turkish Airlines, which was adversely affected by the global travel restrictions due to the pandemic, decreased its net sales revenues by 38.2% in 2020 compared to the previous year. With a net sales revenue of ₺46.5 billion, Turkish Airlines fell two places to the fifth place in the Fortune 500 Turkey-2020 ranking compared to the previous year.”

Laleli pointed out that Petrol Ofisi, whose net sales revenues decreased by 18.6% compared to the previous year, to ₺43.7 billion, fell two places and entered the Fortune 500 Turkey 2020 list from the sixth place, reported that Ahlatci Jewelery ranks seventh with ₺41.5 billion net sales revenue, Arcelik ranks eighth with ₺40.9 billion, Opet, which was in fifth place the previous year, ranked ninth in the list with ₺38.6 billion net sales revenue.

Laleli underlined that Erdemir, which increased its net sales revenues by 16.7% compared to the previous year and reached ₺32 billion, managed to enter the Fortune 500 Turkey-2020 list in the tenth place. She stated that the top 10 companies in the Fortune 500 Turkey ranking realized 26.7% of the total sales with ₺517.2 billion net sales revenue.

The number of companies with a net sales income of more than ₺1 billion increased to 353

According to the announced results, the number of companies with a net sales revenue of over ₺1 billion, which was 323 in the Fortune 500 Turkey-2019 list, increased to 353 in the Fortune 500 Turkey 2020 list.

The number of companies with net sales revenues of more than ₺10 billion rose from 33 to 37.

While the net sales of the company, which ranked 500th in the list, were ₺629.3 million, when the Fortune 500 Turkey Survey was announced in 2008, it was seen that the bar for entry to the list has been rising every year.

On the other hand, the share of companies on the Fortune 500 Turkey list in Turkey’s GDP decreased from 42.6% to 38.4%.

THY did not leave the top in 2020

The total exports of Fortune 500 Turkish companies decreased by 8.7% in TL terms in 2020 compared to the previous year and amounted to ₺471 billion.

On a dollar basis, exports decreased by 26.1% compared to the previous year and decreased to $67.2 billion, while 388 of the companies in the Fortune 500 Turkey made export.

While 75.7% of the net sales of Fortune 500 companies in Turkey consisted of domestic sales, the share of exports decreased to 24.3%.

While 32.9% of Turkey’s total exports are carried out by Fortune 500 Turkey companies, THY, which has been the leader of the Fortune 500 Turkey export list for a long time, did not leave the lead in 2020.

While Ford Automotive was the second largest exporter, Arcelik ranked third, RC Ronesans fourth and Anadolu Efes fifth in the Fortune 500 Turkey rankings.

407 of Fortune 500 Turkish companies declared profit, 93 of them declared loss

The net sales revenues of the companies included in the Fortune 500 Turkey 2020 list decreased in real terms compared to the previous year, as well as a decrease in profits.

The total net profit of the companies on the list decreased by 15% compared to the previous year and decreased to ₺66.4 billion.

Although the main operating profits of the companies increased by 14.6%, the 31.2% increase in financing expenses due to the increase in foreign exchange rates negatively affected the net profit. The net sales profitability of Fortune 500 Turkey companies was 4.28% in 2019, it was 3.42% in 2020.

The return on equity, which was 11.73% in 2019, decreased to 8.27% in 2020. Of the Fortune 500 Turkish companies, 407 reported profits and 93 losses.

BIM ranked first in employment with 60,663 employees in the Fortune 500 Turkey list

The number of people employed by Fortune 500 companies, which was 1 million 351 thousand in 2019, decreased to 1 million 278 thousand people in 2020.

BIM ranked first in employment with 60,663 employees in the Fortune 500 Turkey list. While RC Renaissance Construction Contracting ranks second with 50 thousand 794 employees, it is the third company that provides the most employment in Migros Fortune 500 Turkey list with 38 thousand 458 employees.

While 99 Borsa Istanbul companies were included in this year’s list, these companies made up only one-fifth of the Fortune 500 Turkey list.

Source: AA / Translated by Irem Yildiz

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