Among the Fortune 500 Turkey list, which determines the 500-largest companies, Turkish Petroleum Refineries Co. (TÜPRAŞ) ranked first with a net sales income of TL 39.7 billion ($14.828 billion). This is no surprise as TÜPRAŞ topped the list for the previous seven years it has been published in Turkey. The list, which is prepared with contributions from Italy's CRİF and Dun & Bradstreet (D&B), does not include financial institutions and conglomerates. Despite seeing its net sales numbers decrease by 3.3 percent in 2014, TÜPRAŞ kept its top place on the list, and it came third in exports worth TL 8.16 billion.
Petroleum pipeline corporation BOTAŞ followed TÜPRAŞ by increasing its net sales income by 14.2 percent to reach TL 37.5 billion. This year, BOTAŞ disclosed its data for the survey – something BOTAŞ has not done in the previous three years. BOTAŞ was also ranked second on the list in 2008, and was ranked third in both 2009 and 2010.
OMV Petrol Ofisi was third on the list with TL 32.9 billion in net sales income and Turkish Airlines took fourth place by increasing its net sales income to TL 24.2 billion. Turkish Electricity Transmission Company (TEİAŞ) ranked fifth on the list with TL 22.6 billion and Turkish Electricity Trading and Contracting Corporation (TETAŞ) ranked sixth with TL 20.9 billion. Fuel company Opet ranked seventh with TL 20.8 billion, followed by Shell & Turcas Petrol with TL 15.8 billion in net sales income. Grocery store chain BİM moved up one spot on the list to become ninth with TL 14.5 billion, while Turkish telecommunication company Türk Telekom moved down by two spots to become tenth.
The net sales numbers of the Fortune 500 companies totaled TL 791.9 billion in 2014 with a 19.55 percent increase compared to the previous year, whereas their total exports amounted to TL 186.8 billion with a 19.98 percent increase.
According to the information given by Fortune Turkey Editor-in-Chief Cüneyt Toros, Fortune 500 companies performed well in 2014 with a 19.55 percent increase in total net sales income, significantly surpassing the previous year's increase in total sales numbers, which was 7.7 percent.
Net profits declined
Companies with incomes under TL 284 million did not make it on the Forbes 500 Turkey list. Nurol İnşaat climbed the list by 267 spots, becoming the company that moved up the most. Ekin Tourism and Trade and Arkem Chemicals were the other great climbers of the list, moving up the the 153rd and 124th places, respectively.
While the total net sales income of Fortune 500 companies increased, their profits decreased. The Fortune 500 companies experienced a 1.96 percent decline in profits, falling by TL 26.8 billion, but still far better than the 13.6 percent decline in profits in 2013.
The main reason for the decline in their net profits was the 13.49 percent decline in operating profits. There was a 25.3 percent increase in operating profits last year. Moreover, while the financial expenses of the Fortune 500 companies increased by 51 percent in 2013, it only increased by 4.52 percent in 2014.