Two Elevator Companies Rank Among Turkey’s Top 100 Fastest-Growing

DateJuly-August 2019 Print

In remembrance of the 100th anniversary of Mustafa Kemal Atatürk’s arrival to Samsun to start the War of Independence, the 100 fastest-growing companies of Turkey were announced in Samsun on May 19, 2019, with the cooperation of The Union of Chambers and Commodity Exchanges of Turkey (TOBB) and The Economic Policy Research Foundation of Turkey (TEPAV).

The winner of the contest that determined the 100 fastest-growing companies in Turkey is Biomar Sagun, located in Aydın, which increased its turnover by 5.324 percent during the period of 2015-2017. Optimal Project Management and Construction from Istanbul (4.452 percent), Natural Renewable Energy Solutions from Ankara (3.774 percent), Vergo Energy Systems from Izmir (3.030 percent) and Profen Defense and Security Technologies from Ankara (2.320 percent) followed Biomar Sagun on the list.

Germany is the leader in export

The fastest growing 100 companies of Turkey increased their turnover by 605 percent during the period of 2015-2017. The average turnover of the companies in the list is TL 59,8 million.

The increase rate of nominal incomes of these companies is 18 times more than increase rate of Turkey’s nominal national income. Moreover, these companies increased their employment rate by 70 percent between the years 2015 and 2017. 63 percent of these top 100 companies are involved in export especially in wholesale trade. It was emphasized that Germany was the leader in export, and 36 companies from various industries export to 68 different countries.

Companies from 25 different cities were involved in the list

While the winner of the contest of Turkey’s Top 100 companies was a company from Aydın, Istanbul was the leading city, with 23 companies. Next were Ankara, with 22 companies, Kocaeli, with five companies, and Adana, Bursa and Kahramanmaraş, with 4 companies each, after Istanbul. Companies from 25 different cities were involved in the fastest-growing companies list.

Average age of the companies is 11.5

The average age of the fastest growing companies was 11.5 years, while the average age of the CEOs of these companies was 45.9. CEOs of 10 companies are below 35. The majority of the fastest-growing companies have a partner from or out of family, with 58 companies founded by people from the same family and 42 companies founded by people who are not from the same family.

Wholesale trade leads in sectoral allocation

Considering the sectoral allocation of the winners of “Turkey 100,” wholesale trade comes first, with 16 companies. 90 percent of the companies stated that their aim is to increase the number of employees in 2019, and 77 percent of the companies stood out with their in-house and outsourced training activities, which aims at contributing to the qualities of their employees. 35 out of the fastest-growing 100 companies support their employees to set up their own businesses.

Growth rate of 605 percent

In his speech, TOBB President M. Rifat Hisarciklioglu first mentioned the importance of May 19. Stating that Turkey 100 list has been prepared based on the turnover increase rate of the applicants over the 2-year, 2015-2017 period, Hisarciklioglu said, “The companies here made an excellent success on this issue. The average growth rate of the fastest-growing 100 companies of Turkey has been 605 percent. This is striking.” He also stated that these companies showed performance that is 18 times more than the increase in national income in Turkey, while increasing their productivity by 332 percent.

Growing companies take the lead in export

In his speech, Mustafa Varank, the Minister of Industry and Technology, said that the fastest-growing 100 companies operate in 36 different industries, adding, “Considering the profiles of the top 100 fastest-growing companies of Turkey as determined by TOBB, we see that the companies that operate in 36 different industries and that are focused on technology and export stand out. These 100 companies, which export their goods to 68 countries, were founded approximately 11 to 12 years ago, and the average age of their top management is 46.”

Minister of Commerce Ruhsar Pekcan, Minister of Industry and Technology Mustafa Varank, TOBB President M. Rifat Hisarciklioglu and a large number of chamber and commodity exchange presidents, as well as the chairs of TOBB Women and Young Entrepreneurs attended the awards ceremony of the competition for the fastest-growing companies in Turkey, which was led by TOBB and in partnership with TEPAV, based on the two-year turnover growth of the applicants between 2015 and 2017.