TÜPRAŞ is Turkey's Largest Enterprise

‘Turkey's Top 500 Industrial Enterprises 2018' ISO report was released. According to the ISO 500 report, TÜPRAŞ was Turkey's largest industrial production enterprise in 2018 with 79 billion TL in sales. The net sales of 500 major industrial production enterprises increased 34.5 percent compared to the previous year with 878 billion TL in sales in 2018. Reported by Yigitcan Yildiz ...

For half a century, Istanbul Chamber of Industry (ISO) has compiled the ‘Turkey's Top 500 Industrial Enterprises’ report. According to the report, Tüpraş took first place in production with 79 billion TL in sales in 2018. Also on the list; Ford Otomotiv maintained second place with 31 billion TL in sales and Toyota Otomotiv maintained third place with 23.6 billion TL in sales.  Net sales from production increased 34.5 percent in 2018. Turkey's Top 500 Industrial Enterprises net sales in 2017 was 652.7 billion TL and 878 billion TL in 2018. In the report, the ISO stated that in the increase as well as price and export revenues caused by the rise in exchange rates played a decisive role in rapid growth.

Kazan Soda Is In The Top 100

In addition to 11 percent increase in ISO 500 Enterprises’ exports, an increase in added value in the share of high technology intensive industries and the number of R & D companies created was promising. As in previous years, financing costs of ISO 500 companies continued to be a problem.

THE NAMES IN THE REPORT HAVE NOT CHANGED

Tüpraş became Turkey's largest industrial enterprise last year with 51.1 billion TL in sales from production. In 2017, Ford ranked second with 22.7 billion TL and Toyota ranked third with 17.8 billion TL. Toyota was followed by Tofaş, Oyak-Renault, Arçelik, İskenderun Iron and Steel, Ereğli Iron and Steel, İçdaş Steel, and Hyundai Assan respectively.

DEFENSE COMPANIES ON THE RISE

Meanwhile, Turkey's most valuable defense industry enterprise, ASELSAN drew attention as it rose 5 places from the 2017 report to the 2018 report. TUSAS, another defense industry company, moved up 6 places to 22nd place. The change of Oyak and Tofaş in the ranking was another remarkable detail.

ETİ MADEN RISES 5 PLACES

The General Directorate of Eti Mine Works moved up 5 places from 2017 and rose to the 27th place from 32nd place. According to the announced data, employment created by ISO 500 companies in 2018 rose by 2.4 percent from the previous year, from 704 to 690. Paid salaries and wages increased by 20.2 percent.

NUMBER OF COMPANIES THAT LOST MONEY INCREASED

The companies concerned had a total profit of 63.5 billion TL in 2018. Among the companies on the ISO 500 list in 2018, the number organizations who made a profit decreased from 422 to 381. The number organizations who showed losses rose from 78 to 119. Exports were worth US $ 71.8 billion

THE FIRST THREE IN AUTOMOTIVE EXPORT AGAIN

Automotive companies were the top three in export rankings as last year. Ford Automotive was the largest industrial exporter with US $ 5.682 billion last year, followed by Toyota with US $ 4.325 billion, and Oyak-Renault with US $ 3.363 billion exports. Tofaş, which ranked third in export rankings last year, ranked fourth this year with US $ 3.69 billion in exports.

EBITDA INCREASED 48 PERCENT

According to the main indicators of the survey, EBITDA increased 48 percent in 2018, from 94.7 billion TL to 140.2 billion TL. Thus, the companies had the highest EBITDA increase in the last six years. Total pre-tax profit and loss increased by 19.7 percent from 53 billion TL to 63.5 billion TL. EBITDA increased by 23 percent in real terms, while pre-tax profit and loss total decreased by 0.5 percent in real terms.

WILL BE POSITIVE IN THE MEDIUM TERM

Erdal Bahçıvan, ISO’s Chairman of the Board of Directors, said: “The Turkish industry continues production successfully even in the most difficult conditions with experience and endurance in its main activities. With the production economy and its support becoming more qualified every day,  financial outlooks will turn positive in the medium term.”