Turkey’s energy giant TUPRAS heads Fortune magazine’s list of the top 500 Turkish companies in terms of gross revenue, it was announced in Istanbul on Tuesday.
TUPRAS recorded revenues of 39.722 billion Turkish liras ($14.78 billion) in 2014, according to the list co-compiled by two international credit information companies CRIF as well as Dun and Bradstreet.
Although TUPRAS’s revenues have decreased 3.3 percent in 2014 compared to previous year, the oil company still ranked as the top company in terms of gross revenue, ahead of second place Turkish petroleum pipeline company, BOTAS, with 37.464 billion Turkish liras ($13.94 billion) in revenues.
The OMV Petrol Ofisi, Turkish fuel products distribution and lubricants company owned by Austria’s OMV, ranked third with revenues of 32, 946 billion Turkish liras ($12,26 billion).
Turkey’s flag carrier, Turkish Airlines ranked fourth with revenues at 24.157 billion Turkish liras ($8.99 billion).
Turkish Electricity Transmission Company ranked fifth with 22.593 billion Turkish liras ($ 8.41 billion) in revenues.
Turkey’s top 500 companies increased their net sales by 19.55 percent in 2014 to 791.7 billion Turkish liras ($294.65 billion) over the year 2014. Their export increased by 19.98 percent to reach 186.8 billion Turkish liras ($69.52 billion).