TÜPRAŞ ranks first Turkey’s Fortune 500 list

The 500 companies’ share in Turkey’s GDP was 46.2% in 2019, remaining stable compared to 2018

Turkey’s major oil company TÜPRAŞ  topped Fortune magazine’s top 500 Turkish companies list in net sales.

TÜPRAŞ’s revenues were 89.6 billion Turkish liras ($13 billion) in 2019, up 1.2% versus the previous year, the magazine announced last week its website.

The Turkish Energy Stock Market (EPİAŞ) was the second company on the list with its 87.9 billion ($13 billion) net sales.

Turkey’s national carrier Turkish Airlines ranked third by the magazine. Its net sales were 75.1 billion Turkish liras ($11 billion), up by 19.6% in 2019 compared to 2018. 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 those companies also increased 44.5% to 78.1 billion Turkish liras ($11.4 billion), the magazine noted.

402 companies declared profits, while 98 announced losses

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.Total employment created by these companies hit 1.24 million, compared to the last year’s figure at 1.15 million.The 500 companies’ share in Turkey’s GDP was 46.2% in 2019, remaining stable compared to 2018.

The Fortune 500 list, of which the 13th edition was released on last week, includes energy, manufacturing, commerce, services and construction industries.

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