Tüpraş tops Turkey’s Fortune 500 list

ISTANBUL – Anadolu Agency

DHA Photo

Turkey’s energy giant Tüpraş is at the head of Fortune magazine’s list of the top 500 Turkish companies in terms of gross revenue, the publication announced on June 30.

Tüpraş recorded revenues of 39.722 billion Turkish Liras ($14.78 billion) in 2014, according to the list co-compiled by two international credit information companies CRIF as well as Dun and Bradstreet.

Although Tüpraş revenues have decreased 3.3 percent in 2014 compared to the previous year, the oil refinery still ranked as the top company in terms of gross revenue, ahead of Turkish petroleum pipeline company Botaş in second place with 37.464 billion liras ($13.94 billion) in revenues.

OMV Petrol Ofisi, a Turkish fuel products distribution and lubricants company owned by Austria’s OMV, ranked third with revenues of 32.946 billion Turkish liras ($12.26 billion).

Turkey’s flagship carrier, Turkish Airlines, ranked fourth with revenues of 24.157 billion liras ($8.99 billion).

The Turkish Electricity Transmission Company ranked fifth with 22.593 billion liras ($ 8.41 billion) in revenues.

Rise in net sales, fall in profit

Turkey’s top 500 companies increased their net sales by 19.55 percent in 2014 to 791.7 billion liras ($294.65 billion) in 2014. Their exports increased by 19.98 percent to reach 186.8 billion liras ($69.52 billion).

The total profits of Turkey’s leading companies, however, fell 1.96 percent to 26.8 billion liras ($9.97 billion).

Turkish Airlines largest in exports

In the magazine’s 2014 list, the largest 500 companies’ exports increased by 19.9 percent to $186.8 billion. Turkish Airlines was the top exporter, followed by home appliances maker Arçelik and Tüpraş. 

The Fortune 500 is an annual list compiled and published by Fortune magazine which ranks the top 500 corporations as ranked by gross revenue.

The list includes publicly and privately held companies for which revenues are publicly available.