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Five companies of the TAV Group have been included in both Fortune500 and Capital500
Five companies of the TAV Group have been included among “Turkey’s 500 Largest Companies” of Capital and Fortune, two of the country’s most prestigious economy magazines. As the research covers all business fields and not only the industrial sector the rankings represent a major portion of the business world. In the general rankings of Capital500, based on the size of turnover, TAV Airports Holding occupies 48th place, TAV Construction 86th place, ATÜ 151st place, TAV Istanbul 167th place and Havaş 336th place. Fortune500’s criteria, on the other hand, are based primarily on sales volume. It needs to be said that financial companies and holding companies are excluded from this list, which is based on voluntary participation. In the Fortune500 rankings, TAV Construction occupies 72nd place, ATÜ 116th place, TAV Istanbul 126th place, Havaş 239th place and BTA 453rd place. TAV AS AN AIRPORT BRAND In a statement made to Capital Magazine, TAV Group CEO Sani Şener said, “Our growth continued in 2008 as in past years. We took decisive action in response to the economic crisis. I believe that we have positioned ourselves successfully in respect to changing market conditions.” In the intercompany statement released to thank employees after the announcement of the Fortune500 list, Mr. Şener said “As you know, holding companies are not included in the Fortune500 list. But when we make comparisons looking at the combined turnover of the Holding, we see that TAV Holding is included among the 50 largest companies. If we also include TAV Construction, then we are among the top 25 companies. When we include TAV Holding and TAV Construction, it is a source of great pride to be among the top 25 companies of an important economy such as that of Turkey. I have always believed that being a brand should not be confused with being popular. In the beginning, TAV was a popular company because of the character of its business. But now I believe that it has become an airport brand. You become a brand when different circles attribute the same value to your company. All brands have specific characteristics and essences. Everyone has had to accept that our main characteristics are building airports rapidly, managing airports successfully and carrying out our efforts with good human resources. We have achieved all of this together. I would like to thank our entire team.” ONE OF THE FASTEST COMPANIES TO EXCEED THE THRESHOLD In both lists, TAV Group companies occupy top rankings in their respective sectors. TAV occupies 21st place among the largest exporters in the Fortune500 list. TAV also occupies 5th place in the Capital500 list, among companies that have exceeded thresholds the fastest. TAV has exceeded the 100 million TL threshold in one year, the 500 million threshold in one year and the TL 1 billion threshold in three years. If we keep in mind that it took 10 years for companies of international fame such as Microsoft and Redbull to exceed their USD 100 million thresholds, TAV’s success can be better appreciated. What lies behind this success is of course the fact that TAV has understood very well the importance of branding, innovation and exports.
GENERAL EVALUATIONS Findings obtained as a result of research conducted by these two prestigious economy magazines is summarised as follows: Tüpraş, Petrol Ofisi, Shell&Turcas Petrol and Türk Telekom are the four companies at the top of the Capital500 list, with a turnover of over 10 billion TL. The research also revealed the impact that the economic crisis has had on Turkish companies. The total profit of companies in the Capital500 list decreased in real terms by 32%. The increase in real terms in the total turnover of these 500 companies was 3.5% with a total turnover of TL 420,368,580,862. It has therefore emerged from the Capital500 list, consisting of companies from 37 sectors ranging from industry to services, telecommunications to food, that even though profits decreased in 2008, there still was an increase in turnover. While the Capital500 list from last year revealed a turnover of $98.3 million, this year it reached $117.3 million. In 2002, this figure was of $23.9 million. With a net sales figure of 30 billion 456 million TL, Tüpraş once again occupied first place in the Fortune500 list, which did not include banks or holdings. Tüpraş was followed by Botaş Petroleum Pipeline Corporation Inc. and TEDAŞ Turkish Electricity Distribution Inc., none of which were included in last year’s rankings. Ali Ağaoğlu, Editor-in-Chief of Fortune Turkey, said that in comparison to 2007, the financial health of companies included in the Fortune500 Turkey rankings in 2008 has declined, their profitability has decreased and their debt ratios have increased. Ağaoğlu stated: “We see that in the last quarter of 2008 there was a general increase in costs and a disruption in profitability. While large companies are relatively less influenced by recent developments, small and medium-sized companies have been influenced more.”
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