EXIST holds onto top spot in Fortune 500 Türkiye list

ISTANBUL

Turkish energy firm Energy Exchange Istanbul (EXIST) held onto the top spot on Fortune magazine’s top 500 Turkish companies list in terms of net sales.

EXIST’s sales last year totaled 839 billion Turkish Liras ($36.1 billion), rising 4.9 percent from 2022, according to a statement issued by the magazine.

Energy firm TÜPRAŞ, also keeping its place at number two on the list, saw 686.5 billion liras in sales last year, jumping 42 percent from a year earlier.

National flag carrier Turkish Airlines followed with 504 billion liras of sales in 2023, a 62 percent year-on-year surge.

Rounding out the top 10 on the list were jewelry firm Ahlatçı, carmaker Ford, oil provider Petrol Ofisi, discount retailer BİM, oil provider Opet, major appliances producer Arçelik, and oil provider Shell.

The combined net income of the Fortune 500 companies rose by 77.2 percent in 2023 from a year ago to stand at 965.8 billion liras.

Their net sales grew 60.6 percent to 12.83 trillion liras, said the magazine.

The number of companies on the top 500 list with net sales exceeding 10 billion liras increased by 80 compared to 2022 to 218.

The number of companies with net sales above 100 billion liras rose from 13 in 2022 to 24 in 2023.

Exports of the top 500 companies rose by 46.4 percent last year compared with 2022 to amount to 3.12 trillion liras, while in U.S. dollar terms, their exports exhibited an annual increase of 2.1 percent.

The top 500 companies increased their employment only 1.1 percent to 1.39 million.