The results of “Turkey’s Second Top 500 Industrial Enterprises 2020” survey carried out by Istanbul Chamber of Industry (ISO) have been announced. According to the survey, production-based sales of the second 500 industrial enterprises increased by 21.7% and reached 191.1 billion TRY in 2020.
In terms of production-based sales, Murat Ticaret Kablo stood on the top of the second 500 list, with a volume of 578.9 million TRY, while Metal Matris became was second, with a volume of 578.9 million TRY. With only a slight difference, RTM Tarım Kimya took third place, with a volume of 571.5 million TL.
Two companies from elevator industry make the second Top 500 list
Following “ISO Turkey’s Top 500 Industrial Enterprises-2020” survey announced in May, Buga Otis Turkey and Konya-based rail manufacturer Çelikray from the vertical-transportation (VT) industry took a place in “ISO Turkey’s Second Top 500 Industrial Enterprises-2020,” which mainly covers SMEs. Buga Otis was listed at 263rd place, while Çelikray was on the list at 412th place.
Operating profits increased
The operating profit of ISO’s Second Top 500, which was 16.8 billion TRY in 2019, increased by 71.1% in 2020 and reached 28.8 billion TRY. The operating profitability rate increased by 2.7 points, and reached 10.8%. Concordantly, operating profitability rate, which was 9.4% in 2019, increased by 3.7 points in 2020 to reach 13.1%.
28.9% balance sheet growth recorded
Depending on the main balance sheet items of ISO’s Second Top 500 list, and the changes in the last three years, balance sheet growth was recorded at 28.9% for the year 2020. This high rate of growth depends on total debts, which increased by 33.5%, and equities, which saw an increase of 22.3%.
X-Ray vision of the Turkish economy and industry
ISO Chairman Erdal Bahçıvan said, “Offering an X-ray vision of Turkish the economy and industry, the ISO Second Top 500 is as important as ISO 500.”
Bahçıvan talked about the prominent results of the survey, and added:
“In 2020, which was a challenging year due to the pandemic, we witnessed that the ISO Second Top 500 yielded brighter results than expected in many parameters, such as exports, employment, profitability, financing expenses, technological structure and R&D expenditures, since net sales from production increased by 6%, in real terms. Here, I would like to draw attention to returns in assets from sales profit and to EBITDA performance from operating profits. When we list the reasons for the profitability of the ISO Second Top 500 list, supportive practices, especially in the second half of the year, such as low commodity prices throughout the year, favorable credit terms and low interest rates, they limited the operational costs of the companies and increased their profit margin. It is promising that these developments reveal a 22% increase in the equities of the ISO Second 500 companies.
Employment growth of the ISO Second 500 is stronger than the ISO 500
Bahçıvan said the export performance of SMEs significantly differs from both Turkey and the ISO 500 survey, and the employment increase of ISO Second Top 500, with a rate of 4.6%, was stronger, compared to ISO Top 500, which is an important result.
Bahçıvan stated that the share of medium-high- and high-technology industries in the ISO Second Top 500 list reached 29.5%, reflecting an increase of 3.1 points. He said that this increase was a significant indicator for the future, while new investments and ventures are needed in order to reach the targets in terms of technology and added value.
The main objective of Turkey’s First and Second Top 500 Industrial Enterprises surveys is to determine the largest enterprises engaged in industry in Turkey, identify their aggregates and, thus, reveal the development of Turkish industry and help draw a road map for the future. The first survey, the “Top 100 Enterprises,” was publicly released in 1968; then, the scope of the annual survey, which reveals the previous year’s results, was expanded to 300 enterprises in 1978 and to 500 in 1981. The Second Top 500 list was added in 1998.
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