Fastest Growing Top 100 Companies of Turkey Have Been Announced;

Hare Asansör is Included for Third Time

Led by The Union of Chambers and Commodity Exchanges of Turkey (TOBB), and in cooperation with The Economic Policy Research Foundation of Turkey (TEPAV) and TOBB University of Economics and Technology, Turkey’s fastest growing top 100 companies were announced at a ceremony held in Ankara on February 8, 2022. Hare Asansör, which achieved being listed in 2019, 2020 and also this year, has been the only company from the elevator industry in the top 100 list.

Based on the turnover increase between 2017 and 2019, companies from 29 cities and 32 different sectors took part among the fastest growing top 100 companies in Turkey. Companies in the top 100 list grew 13 times faster than Turkey. Of the listing, 33 of the fastest growing companies were from Istanbul, 14 from Ankara and nine from Izmir. Istanbul based Tripenia Bilişim Turizm A.Ş., which increased its turnover with a rate of 5.808 percent in two years, was placed at the top of the list. Ankara based Türktem Bilişim İnşaat Ltd. ŞTİ became second, with a growth rate of 2.543 percent, and Antalya-based Finder Yangın Güvenlik Elektronik Sistemler A.Ş. became third.

Steady Growth

Hare Asansör was previously among the fastest growing top 100 companies that increased their revenues in the period 2015-2017, then became 28th out of top 100 companies, which increased the company’s revenues in the period 2016-2018. The company again became successful in the 2017-2019 period and became 41st on the list, with a growth rate of 346 percent.

Increasing Number of Entrepreneurs Will Lend Impetus to Economic Growth

In his opening speech, Minister of Commerce Mehmet Muş pointed out that entrepreneurship is the lifeblood of economic growth and development, adding, “As the number of entrepreneurs and companies established in a country increases, economic growth also accelerates.”

Average Growth of Companies is 498 Percent

TOBB President Rıfat Hisarcıklıoğlu said, “We will work together in order to help Turkey to take its place among the world’s largest economies and become a leading country.”  Hisarcıkoğlu stated that the list was prepared based on the turnover increase rate of the applicants between 2017 and 2019, and said that the average growth of the top 100 companies was 498 percent.

Top 100 Companies in Turkey, With Figures

Top 100 companies in Turkey had a total turnover of 6.47 billion TL, and average volume of 64.7 billion TL in 2019. While the total number of people employed in 2020 was 11,339, the average number of people employed per company was 113.

Companies from 32 different sectors entered the list, while the number of computer programing and consultancy companies were the highest. These were followed by machinery and equipment manufacturing, wholesale trade, fabricated metal products, computers, electronics and optical products and architecture and engineering activities.

76 out of the 100 fastest growing companies export to 78 different countries, while 25 of these companies sell products to Germany. Other countries are United Kingdom, Azerbaijan, Italy, France, Saudi Arabia, USA, United Arab Emirates, Bulgaria, Netherlands, Iraq and Israel, respectively.