Refiner Tüpraş once again leads top 500 enterprises list
ISTANBUL
Oil refiner Tüpraş once again ranked first in the Istanbul Chamber of Industry’s (İSO) Top 500 Industrial Enterprises list with production-based sales amounting to 651.6 billion Turkish Liras in 2024.
Carmaker Ford Otomotiv came second at 356 billion liras, followed by Star Rafineri at 202 billion liras. Both companies kept their rankings from the previous year.
Another carmaker, Toyota Otomotiv, claimed the fourth spot with production-based sales amounting to 169 billion liras, while Istanbul Gold Refinery ranked fifth at 167 billion liras.
The production-based sales of the 500 largest industrial enterprises increased by 36.3 percent last year compared to 2023, reaching 8.7 trillion liras. This marked the lowest increase in the last four years and remained below the domestic producer inflation rate of 41.1 percent.
The operating profit of the 500 largest industrial enterprises fell by 31.6 percent last year to 641 billion liras, while the operating profitability ratio dropped from 12.5 percent to 6.2 percent.
This ratio was significantly below the 2014–2023 average of 10.4 percent.
In 2024, among the 500 largest industrial enterprises, 348 companies reported profits, while 152 declared losses, up from 96 companies in 2023.
The exports of those companies increased by 1.5 percent in 2024 compared to the previous year, reaching $96.6 billion.
Employment at the top 500 companies rose by 2.6 percent, approaching 825,000 people, while wages and salaries paid to employees rose by 90.9 percent to 813 billion liras.
