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Companies featured in the 2024 Fortune 500 Türkiye list increased their total net sales by 35.6% compared to the previous year, reaching ₺17.39 trillion ($434.55 billion). The list ranks the country's 500 largest companies annually based on their net sales.
This growth came despite ongoing inflation, which peaked at 75.5% in May, and broader economic challenges, highlighting a continued focus on expansion and employment.
The share of these companies in the country’s gross domestic product (GDP) rose to 40.1%, demonstrating their central role in Türkiye’s economy.
Among companies that prepare financial statements in line with International Financial Reporting Standards (IFRS) and use the Turkish lira as their functional currency, real net sales growth stood at 3%. In contrast, companies that report in foreign currencies or do not apply IFRS saw nominal sales increase by 44.7%, with real growth at 12.6% when adjusted for the producer price index.
Energy Exchange Istanbul retained the top position with net sales of ₺864.8 billion. It was followed by the country's largest refinery, Tupras, with ₺810.4 billion, and the national flag carrier, Turkish Airlines, with ₺745.4 billion.
Alongside other leading companies—such as Türkiye's largest automaker, Ford Otomotiv; the largest food retail chain, BIM; fuel distributor Petrol Ofisi; and the country’s top home appliances manufacturer, Arcelik—the top 10 firms on the list generated ₺5.49 trillion in net revenue, accounting for 31.6% of total sales.
The number of companies with net sales exceeding ₺10 billion rose to 314, up from 218 in the previous year. Similarly, the number of firms with sales exceeding ₺25 billion rose to 118, up from 85 the previous year.
The lowest sales figure on the list also rose significantly, with the 500th company posting ₺5.1 billion in net revenue—an increase of 41.2% from the previous year.
Total exports among listed companies reached ₺4.42 trillion in 2024, a 41.8% increase in TL terms. However, in dollar terms, the export figure showed only a 2.7% rise to $134.8 billion.
Exports made up 25.4% of all sales, while the remaining 74.6% came from the domestic market. Turkish Airlines was the leading exporter, followed by Ford Otomotiv, Arcelik, Tupras, and Anadolu Efes.
According to data from the Turkish Exporters Assembly and the Service Exporters Association, Türkiye’s overall exports totaled $377 billion in 2024. Of this, 35.8% was generated by companies listed in the Fortune 500 Turkiye ranking.
Despite the surge in sales, total net profits among the companies fell by 54.9% to ₺435.7 billion. Out of the 500 companies, 351 reported profits, while 149 declared losses.
In a contrasting trend, employment among the listed firms grew. The total number of employees rose by 7.8% year-over-year, reaching approximately 1.5 million. BIM led in workforce size, followed by Turkish Airlines and Migros. This expansion in hiring came despite profit declines, indicating companies’ continued commitment to maintaining jobs amid uncertainty.
The number of publicly listed companies on Borsa Istanbul included in the 2024 list reached 149—the highest since the Fortune 500 Türkiye ranking began in 2008. This increase reflects both the rising number of initial public offerings and the impact of inflation accounting reforms on corporate reporting.
The Fortune 500 Türkiye list, which ranks the largest Turkish companies by net sales, is compiled by Fortune Türkiye in partnership with CRIF Türkiye.
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