Istanbul, July 2020

CRIF carries out the Fortune 500 Turkey ranking

CRIF carried out the Fortune 500 Turkey ranking project for the thirteenth year in a row. The list contains the top 500 companies in Turkey ranked according to their turnover amount of in 2019 and was announced in the July issue of the Fortune Turkey magazine following a press conference.

The Fortune 500 Turkey list, which analyzes various indicators and trends related to companies from all industry sectors, is published in Fortune 500 Turkey and is widely recognized as an indicator of the pulse of the business community, serving as a reliable benchmark for investors.

Thanks to the wealth of information held in the CRIF database, various pieces of information, including turnover, were analyzed and used to classify the companies for the 2019 list.

Turkey's leading petroleum company TUPRAS ranked in the first place on the top 500 Turkish companies list with revenues of 89.6 billion Turkish liras ($13 billion) in 2019. The Turkish Energy Stock Market (EPIAS) was the second company on the list with its 87.9 billion ($13 billion) net sales. Turkey's flag carrier Turkish Airlines ranked third; its net sales were 75.1 billion Turkish liras ($11 billion).

According to the list, 500 companies' net sales went up by 14.9% to $262 billion in 2019. Total net sales of the 500 companies on the list rose by 14.9% to 1.8 trillion Turkish liras ($262.6 billion) year-on-year in 2019. The net profit of these companies also increased 44.5% to 78.1 billion Turkish liras ($11.4 billion). Meanwhile, 500 companies' exports jumped by 14.6% on the basis of Turkish liras, while decreasing by 2.7% by US dollars -- 515.8 billion Turkish liras and $90.9 billion, respectively.

A total of 323 firms' net sales among 500 companies reached over 1 billion Turkish liras ($147 million) each as of the end of the last year, and net sales of 33 companies each exceeded 10 billion Turkish liras ($1.5 billion). A total of 402 companies declared profits, while 98 announced losses.