Fortune magazine’s list of Turkey’s top 500 companies released on Friday revealed that energy company Energy Exchange Istanbul (EXIST) took first place in terms of net sales, overtaking energy giant TÜPRAŞ, which fell to second square.
EXIST sales totaled 105.8 billion TL ($ 15.07 billion) in 2020, up 20.3% on an annual basis, according to a statement released by the magazine.
TÜPRAŞ, number two on the list, reported sales of TL 63.24 billion in 2020, down 29.4% year-on-year.
Amid the pandemic – which led to the closure of most stores except supermarkets – discount grocery chain BIM was third, down from sixth in 2019, with net sales worth TL 55.49 billion, up 38% year over year in 2020.
The average US dollar / Turkish lira exchange rate in 2020 was 7.02.
Automotive group Ford ($ 7 billion), airline Turkish Airlines ($ 6.6 billion), oil supplier Petrol Ofisi ($ 6.22 billion), Ahlatcı jewelry ($ 5.9 billion) ), major household appliance producer Arçelik ($ 5.8 billion) round out the top 10 on the list. ) and oil supplier Opet ($ 5.21 billion).
Total net sales of the top 500 companies in 2020 reached TL 1.94 trillion, up 6.3% year-on-year, the statement said.
EXIST’s share in the total net sales of the 500 companies was 5.5%, the magazine noted.
He said: “The number of companies with a net turnover of over TL 1 billion, which was 323 in the 2019 list, has increased to 353 in the 2020 list.
“The number of companies with net sales of over TL 10 billion has increased from 33 to 37.”
Under the conditions of the pandemic, the total exports of the 500 companies – TL 471 billion – fell 26.1% in US dollars and 8.7% in Turkish lira.
“While 75.7% of Fortune 500 companies’ net sales in Turkey consisted of domestic sales, the export share fell to 24.3%,” he said.
The 500 companies accounted for 32.9% of the country’s overall exports of $ 204.1 billion in 2020.
The national carrier Turkish Airlines was the largest company on the list in terms of exports, followed by Ford and Arçelik.