Turkish refining company Tüpraş continues its dominance, ranking first on the list of top 500 global enterprises.
In Istanbul, petroleum refiner Tüpraş maintained its leading position in the Istanbul Chamber of Industry's (İSO) Top 500 Industrial Enterprises list, reporting production-based sales of 651.6 billion Turkish Liras in 2024. Carmaker Ford Otomotiv followed closely, with sales of 356 billion liras, while Star Rafineri held the third spot with 201.6 billion liras.
Toyota Otomotiv and Istanbul Gold Refinery rounded out the top five, with sales of 169 billion and 167 billion liras respectively. The sales of the top 500 industrial enterprises collectively increased by 36.3%, amounting to 8.7 trillion liras, albeit below the domestic producer inflation rate of 41.1%.
The operating profit of the 500 largest industrial enterprises declined by 31.6% in 2024, reaching 641 billion liras, and the operating profitability ratio dropped from 12.5% to 6.2%, significantly below the 10.4% average from 2014 to 2023.
Despite the decline, 348 companies reported profits, while 152 declared losses, up from 96 companies in 2023. Exports increased by 1.5% to $96.6 billion, while employment grew by 2.6%, approaching 825,000 people, and wages and salaries rose by 90.9% to 813 billion liras.
Tüpraş, which has dominated the list for three consecutive years, increased its sales from 484 billion liras in 2023 to 651.6 billion liras in 2024. Several other companies in the iron and steel sector, such as Iskenderun Demir ve Çelik and Ereğli Demir ve Çelik Fabrikaları, also improved their rankings. Hyundai Motor Türkiye improved its ranking by three places, indicating growth and stronger performance.
The ISO 500 list, which has been published continuously since 1968, also reflects regional contributions, with firms from places like Konya making significant appearances among the top 500 enterprises. Smaller rankings within the 500 include firms like one ranked 401st, indicating the broad reach of the industrial sector in Turkey.
In summary, Turkey's industrial sector continued to be led by major companies such as Tüpraş and Ford Otomotiv, with significant production-based sales growth in the top positions. However, overall industrial production sales face challenges, highlighting the importance of strategic focus on competitiveness and technological advancement for sustainable growth.
In the financial aspect, the combined sales of the top 500 industrial enterprises in Turkey increased by 36.3%, amounting to a significant figure of 8.7 trillion Turkish Liras. Additionally, the finance sector also saw changes within, with Toyota Otomotiv and Istanbul Gold Refinery reporting impressive sales of 169 billion and 167 billion liras respectively, in the industry's top five.
