Before talking about the top Turkish companies we have to talk about the Turkish economy at the beginning.
Economy in Turkey:
According to IMF report in 2023, Turkey's nominal GDP peaked at $1.029 trillion, as it ranks the 19th-largest in the world by nominal GDP, and the 11th-largest by PPP. Turkey is a founding member of the OECD and G20, and is classified among the E7 countries. while its GDP (PPP) per capita peaked at $41,412 in 2023.
Turkey’s vision 2023:
Turkey's Vision 2023 is a list of goals issued by President Recep Tayyip Erdogan, in conjunction with the centenary of the Republic of Turkey in 2023. These goals include:
- To make Turkey’s economy among the top ten economies in the world.
- Turkish citizens will be able to go to 197 countries without a visa.
- To raise the Per capita income rate to $30,000, annually.
- To increase its exports to 500 billion dollars in 2023.
- To be able to manufacture aircraft, drones and satellites.
- Operating 3 nuclear power plants with a capacity of 14,700 Megawatt.
- To increase the employment rate by 10 points to a working population of 30 million.
- To increase the Foreign trade volume of $1 trillion.
- To reduce the unemployment rate to %5.
What are the best top companies in Turkey and their market cap?
SASA Polyester Sanayi: it is a Turkish company specialized in the production of polyester-based products including polyester chips, polyester staple fibers, filament yarns, and textured yarns, and is known for its high-quality products and customer service. It was founded by Özdemir Sabancı in 1966 in Adana. SASA Polyester’s production capacity is approximately 540,000 tons per year. It exports its products to more than 70 countries around the world. Recently, it has been focused on sustainability and has made significant investments in environmentally friendly technologies. The company has also been recognized for its efforts to reduce its carbon footprint and increase energy efficiency. According to the Companies Market website, as of May 2023 SASA Polyester’s market cap is $11.74 Billion, which makes it the 1st in Turkey and the world's 1313th most valuable company by market cap, with a revenue of $1.82 Billion.
Koç Holding: it is the second largest industrial company in Turkey. It belongs to the Koç family, one of the wealthiest families in Turkey. It was formed in 1963 when its founder Vehbi Koç combined all companies having his name under the umbrella of Koç Holding. It is headquartered in Nakkaştepe, Istanbul, operating in various sectors including automotive, energy, consumer goods, finance, and tourism, with over 100,000 employees and operations in more than 30 countries. Koç Holding's automotive is one of its most well-known subsidiaries such as Ford Otosan, Fiat, Hyundai, and Toyota. Its other major subsidiaries include energy companies such as Tüpraş and Aygaz, consumer goods companies such as Arçelik and Beko, and finance companies such as Yapi Kredi Bank and Koç Financial Services. According to the Companies Market website, as of May 2023 Koç Holding’s market cap is $9.84 Billion, which makes it 2nd in Turkey and the world's 1467th most valuable company by market cap, with a revenue of $52.22 Billion.
Turkish Airlines: it is the national flag carrier airline of Turkey, and one of the largest companies in Turkey. The company’s headquarter is at the Turkish Airlines General Management Building, in Istanbul Atatürk Airport in Yeşilköy, Bakırköy, Istanbul. It was established in May 1933 as a department of the Ministry of National Defense. In 1938, it became part of the Ministry of Transportation, and in April 2008 it became a member of the Star Alliance network . Turkish Airlines serves more destinations non-stop from a single airport than any other airline company in the world and flies to 126 countries, which makes it the largest mainline carrier in the world by number of passenger destinations with an operational fleet of 24 cargo aircraft and serving 82 destinations. Worthed to be mentioned, in 2022 it operated scheduled services to 340 destinations including Europe, Asia, Africa, and the Americas. According to the Companies Market website, as of May 2023 Turkish Airlines’ market cap is $8.83 Billion, which makes it the 4th in Turkey and the world's 1598th most valuable company by market cap, with a revenue of $235.62 Billion.
ENKA: it is a Turkish engineering and construction company that was founded in 1957 in Istanbul. It is the fourth largest construction company in Turkey, according to the ENR magazine in 2022. Its services extend to about 30 countries across the world. ENKA’s work is not limited to constructing residential complexes but also about business towers, shopping centers, power plants, airports, and bridges. It has implemented around 500 projects in more than 30 countries such as Romania, Russia, Albania, Tajikistan, Ukraine, Nepal, and Oman. According to the Companies Market website, as of May 2023 ENKA’s market cap is $7.82 Billion, which makes it the 5th in Turkey and the world's 1750th most valuable company by market cap, with a revenue of $47.45 Billion.
Tüpraş: it is one of the largest Turkish companies, its origins go back to İPRAŞ which was established by the U.S. Caltex Company. In 1983, İPRAŞ and three other publicly owned refineries were brought into state control under the Tüpraş umbrella. The company operates four oil refineries, which are Izmit refinery, Izmir refinery, Kirikkale refinery, and Batman refinery. In addition, it owns about 79,98% of the shipping company DİTAŞ stakes. It also has 40% of the ownership of petrol retailer Opet. According to the Companies Market website, as of May 2023 Tüpraş’s market cap is $6.60 Billion, which makes it the 7th in Turkey and the world's 1963th most valuable company by market cap, with a revenue of $27.75 Billion.
BİM: it is a Turkish based discount supermarket chain. It was established in 1995, with 21 only stores. Noting that its headquarter is in Sancaktepe, Istanbul . BİM went public in 2005 and has been traded on Borsa Istanbul since then. In 2015, it launched its new form, which operates in the field of supermarkets and product types, under the brand FİLE. BİM’s main principle is to deliver basic food and products to consumers with high quality and the most affordable price. In 2020 it had about 750 products in its portfolio which make it the first representative of the hard -discount model in Turkey and the main competitor of Şok and A101, which are similar Turkish discount market chains.
Starting in April 2009, the company started its activities outside of Turkey in Casablanca, Morocco, by opening 10 stores on the same day, and in 2014, it opened 46 stores in Egypt. As of the end of 2019, it has 497 stores in Morocco and 320 stores in Egypt. According to the Companies Market website, as of May 2023 BİM’s market cap is $4.81 Billion, which makes it the 12th in Turkey and the world's 2452th most valuable company by market cap, with a revenue of $8.56 Billion.
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