World giants such as Royal Bank of Scotland, Citigroup, AIG suffered unprecedented losses in 2008. Global crisis ate away the profits of many huge companies. As for the large conglomorates in Turkey, they have relatively managed to demonstrate a bettter performance compared with their competitors around the world. The turnover of the leading groups in Turkey like. TAV, Limak, Diler, Bilkent, and Nurol have grown by 20%. However this was achieved only at the cost of compromising their profits. Also, the feeling of uncertainty caused by the crisis dominates heavily over their future plans. Yet they all have one thing in common: to grow in the energy field.
Strong gusts have been behind the global financial crisis which brought the world giants to their knees. The impact of the crisis on the Turkish economy which began to be felt in the last quarter of last year has not been exactly smooth by any stretch of imagination. In the last quarter of 2008, both production and exports slowed down In the final month of last year industrial procudtion went down by 17,6% while exports declined by 25%. Foreign currency rates spiked. Turkish Lira lost 30,5% in value against USD. Foreign direct investment flowing into Turkey remained at USD15 billions in 2008 while this figure was USD19 billions in 2007. Naturally, all that is happening have brought unemployment along with it. According to the figures disclosed by the Statistics Agency of Turkey, unemployment rate went up to 11% in 2008 from 10,3% in 2007. So, based on the foregoing, how did the largest holding companies in Turkey fare under these conditions? Which companies managed to increase their sales and which was not able to do so? How were their report cards on profitability and employment? Here are the answers to these questions…
The following is the list of the largest 20 holding companies, the champions of growth that shared their financial results with us, and which registered the fastest growth in the 2007-2008 period in terms of their total turnovers in Turkey .
- Koç
- Sabancı
- Yıldız
- Doğan
- Türk Telekom
- Enka
- Doğuş
- Anadolu
- Eczacıbaşı
- Şişecam
- Boydak
- Diler
- Yaşar
- Tav Havalimanları
- Bilkent
- Boyner
- Yüksel
- Nurol
- Limak
- Yeşim Grubu