< PreviousAUGUST 2021 119 1. METHOD “Turkey’s Top 500 Industrial Enterprises” is a survey-ba- sed study. Participation in the survey is on a voluntary basis. The survey includes all enterprises that operate in indust- rial sectors across Turkey. The unit of analysis is enterprise. Enterprise is a place where at least one person is carrying out industrial and commercial activities or providing services under the same title. The survey analyzes enterprises carrying out industrial activities that have private accounting records and resources. Turkey’s Top 500 Industrial Enterprises Survey is car - ried out via the “Survey User Login” application at www. iso500.org.tr. “Turkey’s Top 500 Industrial Enterprises” is a survey-based study. Participation in the survey is on a voluntary basis. Enterprises wishing to participate in Turkey’s Top 500 In- dustrial Enterprises Survey are asked fill in the surveys until the deadline determined for each year by using the “Survey User Login” and to upload their Corporate Inco- me Tax Return (e-return) via using financial seal applica- tion. Enterprises failing to carry out these procedures are not included in the survey. The survey asks for information about net sales, produc- tion-based sales, exports (in USD), before tax profit/loss for the period, earnings before interest, tax, depreciation and amortization (EBITDA), total assets and liabilities, annual average number of employees, R&D expenditu- res, and factor income payments through which gross value-added is calculated (salaries and wages paid, in- terest paid, non-operating revenues, amortization and 120 AUGUST 2021 indirect taxes paid, provisions allocated from profit). The participants are also asked to provide their capital distri- bution and economic activities code (NACE Rev. 2). The survey is based on the statements of enterprises. However, in order to verify the accuracy of the data, the enterprises are also requested to upload their Corporate Income Tax Return (e-return), which includes accumula- ted balance sheets and income statements prepared ac- cording to the Tax Procedure Law (TPL) to be submitted to the Ministry of Finance. The survey data is benchmarked with the e-declaration data, and in case of any inconsistency, enterprises are asked to make corrections and/or submit additional do- cuments (CPA approved letter, capacity report, industrial registry certificate, adjusted trial balance, etc.) and/or e- declaration data are taken into account. As the “Turkey’s Top 500 Industrial Enterprises” survey aims to determine the largest industrial enterprises in Turkey, it also includes enterprises that do not wish to disclose their data. Data for such companies is used in all assessments, even though it is not publicly disclosed. “Turkey’s Top 500 Industrial Enterprises” survey involves the industrial sector. The ISO 500’s scope covers Mining and Quarrying (B), Manufacturing (C) and Electricity, Gas, Steam and Air Conditioning Supply (D) sectors as defined by NACE Rev. 2. However, NACE Rev. 2 sectors 33, 35.12, 35.13, 35.14, 35.2, 35.3 and 09 are not included in the sco- pe of the study. The ranking of “Turkey’s Top 500 Industrial Enterprises” is based on the criterion of production-based sales (exclu- ding sale of goods manufactured by the enterprises, and sale of commercial goods). In the main table, where information about the enterp- rises are revealed, the rankings based on their produc- tion-based sales is also included as well as their rank in ISO Top 500 of the previous year. If an industrial enterpri- se do not have a number indicating their ranking from the previous year, this can mean that they did not make it to the ISO Top 500 of the previous year, they rose from the Second 500 to Top 500 or the enterprise do not want to disclose their information from the previous year. 2. DEFINITIONS AND EXPLANATIONS 2.1. Net Sales Net sales include the sale of goods that are bought and sold directly as they are, and goods manufactured by the enterprise or via toll manufacturing as well as the sales acquired in return for manufacture carried out for third parties by using their raw material. Net sales consist of domestic and foreign sales. Net sales should be given ex- cluding all the sales taxes, funds, Value-added Tax and Special Consumption Tax. Total net sales should be equal to the net sales on the income statement. 2.2. Production-Based Sales (Net) Turkey’s Top 500 Industrial Enterprises are ranked ac- cording to the criterion of production-based (net) sales. Production-based sales include the sale of goods man- ufactured by the enterprise or via toll manufacturing and the sales acquired in return for manufacture carried out for third parties by using their raw material. As in net sales, production-based sales should also be given ex- cluding all the sales taxes, funds, Value-added Tax, and Special Consumption Tax. Sales returns and allowances should not be included in the total sales. If there are any discounts and allowances that are not specified under “Sales Allowances”, these should also be deducted from sales. Goods that are bought and sold directly as they are should not be included in the production-based sales. Sales price: It is the exit price of the product. Sales price is found by deducting all the discounts issued for the customer and all the transportation and delivery expenses. If the trans- portation of goods were performed by the enterprise via their own vehicles, the sales price of said goods is the price at the time of delivery. Sales price does not include all sales taxes, funds, Value-added Tax, and Special Consumption Tax. 2.3. Gross Value-Added In order to calculate the contribution of enterprises ana- lyzed by the Top 500 Industrial Enterprises survey, there are questions about value-added in the survey form.AUGUST 2021 121 METHOD The ISO Top 500 survey uses a value-added calculation that is in line with the income approach to GDP. Howev- er, the payments for factors of production are calculated directly, rather than using the residual income approach to GDP. Net value-added is the sum of all the salaries and wages paid, interest paid, rent paid (only in the agricultural sec- tor) and profit as national income within the payments for factors of production. Gross value-added is calculated by collecting net value-added, the amortization set aside for the year, and total indirect taxes; then deducting the sub- sidies from the sum. Factor income profit, that is, profit as national income (the production share acquired by the enterprise upon participation in the production) is found by the following calculation: provisions allocated for the period are add- ed to the before tax total profit/loss for the period; and non-operating revenues such as dividend income, rev- enues from participations, net profit/loss from foreign currency exchange, and interest revenues are deducted from the sum. 2.4. Equity Equity is calculated by collecting the paid-up capital, cap- ital reserves, profit reserves, accumulated profit, and net profit for the period, then deducting the accumulated loss and loss for the period. It should be equal to the total eq- uity on the balance sheet. 2.5. Total Assets It should be equal to the total assets (current assets + fixed assets) on the balance sheet. 2.6. Profit/Loss for the Period (Before Tax) It should be equal to the total before tax profit/loss for the period on the income statement. 2.7. Earnings Before Interest, Tax, Depreciation, and Amortization Depreciation expenses (including amortization and de- pletion expenses), (net) financial revenues and expenses, and (net) non-operating revenues and expenses should be added to the before tax profit/loss for the period. 2.8. Exports The US dollar equivalent (Fob) of the exports of an enter- prise should be specified. Export value should be speci- fied according to the General Trading System (GTS). Ac- cording to GTS, goods that are moved abroad from the free zones, customs warehouses and the free circulation area are considered as exports. This figure should in- clude, if any, export-registered sales and exclude service trade and transit trade. Export amounts should exclude any state subsidies received in any way, shape or form. The dollar equivalent of exports to the TRNC should also be specified. 2.9. Number of Wage Employees Average number of wage employees should be stated. All wage employees are included. All employees receiv- ing wages, salaries, commissions, bonuses, piece-rate pay and pay in kind, in possession of labor contract, and working for the employer should be stated. 2.10. Sectoral Classification The ISO 500 survey uses European Union’s Statistical Clas- sification of Economic Activities (NACE Rev.2) for sectoral classification. As a cumulative survey, the ISO 500 continues to use United Nations International Standard Industrial Clas- sification of All Economic Activities (ISIC Rev.2) to ensure continuity and facilitate comparisons with previous years In sectoral tables, if there is only one enterprise operating in any given sector, information about that sector is not shared with the public.ECONOMIC ACTIVITY CODES AND CAPITAL DISTRIBUTION In the ISO 500 survey, the sectors are classified according to the Statistical Classification of Economic Activities in the European Community (NACE Rev. 2).AUGUST 2021 123 ECONOMIC ACTIVITY CODES The study includes the economic activity codes for each enterprise based on the Statistical Classification of Econo- mic Activities in the European Community (NACE Rev.2), as well as the United Nations’ International Standard Industrial Classification of All Economic Activities (ISIC Rev. 2, 2021). The ISIC Rev. 2 economic activity codes of the enterprises are based on the NACE Rev.2 economic activity codes pro- vided either by the enterprises themselves or by the cham- bers of which they are members. EUROPEAN COMMUNITY-STATISTICAL CLASSIFICATION OF ECONOMIC ACTIVITIES (NACE Rev.2, 2021) CodeDefinition BMINING and QUARRYING 05Mining of coal and lignite 06Extraction of crude petroleum and natural gas 07Mining of metal ores 08Other mining and quarrying CMANUFACTURING 10Manufacture of food products 11Manufacture of beverages 12Manufacture of tobacco products 13Manufacture of textiles 14Manufacture of wearing apparel 15Manufacture of leather and related products 16Manufacture of wood and of products of wood and cork (except furniture) 17Manufacture of paper and paper products 18Printing and reproduction of recorded media 19Manufacture of coke and refined petroleum products 20Manufacture of chemicals and chemical products 21Manufacture of basic pharmaceutical products and pharmaceutical preparations 22Manufacture of rubber and plastic products 23Manufacture of other non-metallic mineral products 24Manufacture of basic metals 25Manufacture of fabricated metal products (except machinery and equipment) 26Manufacture of computer, electronic and optical products 27Manufacture of electrical equipment 28Manufacture of machinery and equipment N.E.C. 29Manufacture of motor vehicles, trailers and semi-trailers 30Manufacture of other transport equipment 31Manufacture of furniture 32Other manufacturing 32.1Manufacture of jewellery, bijouterie and related articles 32.2Manufacture of musical instruments 32.3Manufacture of sports goods 32.4Manufacture of games and toys 32.5Manufacture of medical and dental instruments and supplies 32.9Manufacturing N.E.C. DELECTRICITY, GAS, STEAM and AIR CONDITIONING SUPPLY 35Electricity, gas, steam and air conditioning supply UNITED NATIONS-INTERNATIONAL STANDARD INDUSTRIAL CLASSIFICATION OF ALL ECONOMIC ACTIVITIES (ISIC REV.2) CodeDefinition 210Mining and Quarrying 311Manufacture of food products 312Manufacture of food products not elsewhere classified (NEC) 313Beverage industries (alcoholic and non-alcoholic) 314Manufacture of tobacco processing 321Manufacture of textiles 322Manufacture of wearing apparel, except footwear 323Tanning and dressing of leather; manufacture of leather substitutes 324Manufacture of footwear 331Manufacture of wood and products of wood and cork 332Manufacture of wooden furniture 341Manufacture of paper and paper products 342Printing and publishing 351Manufacture of basic chemicals 352Manufacture of other chemical products 353Manufacture of petroleum products 354Oil and coal derivatives 355Manufacture of rubber goods 356Manufacture of plastic products NEC 361Manufacture of pottery, china, earthenware and porcelain 362Manufacture of glass and glass products 369Manufacture of other nonmetallic mineral products 371Manufacture of basic iron and steel 372Manufacture of non-ferrous products 381Manufacture of metal products 382Manufacture of machinery, except electrical 383Manufacture of electrical machinery, apparatus and appliances 384Manufacture of motor vehicles 385Manufacture of professional, scientific and medical instruments and equipment 390Other manufacturing 400Power production and distribution124 AUGUST 2021 Capital Distribution of the Top 500 Industrial Enterprises Enterprises with 100% public capital9 Public-private capital enterprises with more than 50% public capital- Public-foreign partnership enterprises with more than 50% public capital- Public-private-foreign capital enterprises with more than 50% public capital- Total Public Enterprises9 Public Enterprises Private Enterprises Mostly Domestic Capital Enterprises with %100 private capital376 Private-public capital enterprises with more than 50% private capital5 Private-foreign capital enterprises with more than 50% private capital24 Private-public-foreign capital enterprises with more than 50%private capital- Mostly Foreign Capital Enterprises with 100% foreign capital47 Foreign-private capital enterprises with more than 50% foreign capital31 Foreign-public capital enterprises with more than 50% foreign capital- Foreign-private-public capital enterprises with more than 50% foreign capital1 Public-private-foreign capital enterprises where no party has put in more than 50% of the capital- Enterprises with 50% private and 50% foreign capital7 Total Private Enterprises491 Total500 Publicly Traded Enterprises67AUGUST 2021 125 Sectors Rank in ISO Top 500 Production - based Sales (Net) (TL) 1Eti Bakır A.Ş.Private247,410,202,773 2Türkiye Petrolleri Anonim OrtaklığıPublic444,545,960,084 3-Private49- 4Türkiye Kömür İşletmeleri KurumuPublic663,428,947,752 5Kazan Soda Elektrik Üretim A.Ş.Private703,350,894,193 6Eti Soda Üretim Pazarlama Nakliyat ve Elektrik Üretim San. ve Tic. A.Ş.Private1052,292,993,903 7Esan Eczacıbaşı Endüstriyel Hammaddeler San. ve Tic. A.Ş.Private1251,988,330,505 8Erdemir Madencilik San. ve Tic. A.Ş.Private1801,505,822,876 9İmbat Madencilik Enerji Turizm San. ve Tic. A.Ş.Private330878,576,524 10Kaltun Madencilik Sanayi Nakliye ve Akaryakıt Ticaret A.Ş.Private436662,390,004 Mining and quarrying 05-08 1Unilever San. ve Tic. T.A.Ş.Private267,295,482,773 2Eti Gıda San. ve Tic. A.Ş.Private365,437,168,514 3Konya Şeker San. ve Tic. A.Ş.Private484,290,923,397 4Türkiye Şeker Fabrikaları A.Ş.Public534,048,530,361 5Banvit Bandırma Vitaminli Yem Sanayi A.Ş.Private653,432,002,880 6SÜTAŞ Süt Ürünleri A.Ş.Private673,426,086,914 7Çay İşletmeleri Genel MüdürlüğüPublic743,159,163,182 8Şenpiliç Gıda Sanayi A.Ş.Private763,148,120,974 9Bunge Gıda San. ve Tic. A.Ş.Private802,955,388,047 10Abalıoğlu Yağ San. ve Tic. A.Ş.Private852,767,121,972 11Oba Makarnacılık San. ve Tic. A.Ş.Private862,747,249,388 12Pro Yem San. ve Tic. A.Ş.Private912,658,831,551 13Er Piliç Entegre Tavukçuluk Üretim Pazarlama ve Tic. A.Ş.Private922,641,103,797 14Abalıoğlu Lezita Gıda Sanayi A.Ş.Private932,547,653,650 15Gümüşdoğa Su Ürünleri Üretim İhracat ve İthalat A.Ş.Private982,439,306,383 Manufacture of food products 10 SECTORAL RANKING STATISTICAL CLASSIFICATION OF ECONOMIC ACTIVITIES (NACE REV. 2, 2021)126 AUGUST 2021 Sectors Rank in ISO Top 500 Production - based Sales (Net) (TL) 16Et ve Süt Kurumu Genel MüdürlüğüPublic1002,368,325,242 17Namet Gıda San. ve Tic. A.Ş.Private1032,323,242,778 18C.P. Standart Gıda San. ve Tic. A.Ş. Private 1082,250,935,030 19BEYPİ Beypazarı Tarımsal Üretim Pazarlama San. ve Tic. A.Ş. Private 1122,155,177,275 20Cargill Tarım ve Gıda San. Tic. A.Ş. Private 1132,138,165,316 21Altınmarka Gıda San. ve Tic. A.Ş. Private 1142,109,731,538 22Pınar Süt Mamülleri Sanayii A.Ş. Private 1162,071,624,573 23Kılıç Deniz Ürünleri Üretimi İhr. İth. ve Tic. A.Ş. Private 1192,059,402,632 24Kayseri Şeker Fabrikası A.Ş. Private 1212,052,287,724 25Tarım Kredi Yem San. ve Tic. A.Ş. Private 1271,949,633,033 26Durak Fındık San. ve Tic. A.Ş. Private 1321,920,577,626 27Şölen Çikolata Gıda San. ve Tic. A.Ş. Private 1351,889,621,852 28S.S. Trakya Yağlı Tohumlar Tarım Satış Kooperatifleri Birliği Private 1481,786,098,829 29Başhan Tarımsal Ürünleri Pazarlama San. ve Dış Tic. A.Ş. Private 1501,764,017,518 30- Private 158- 31Panagro Tarım Hayvancılık Gıda San. ve Tic. A.Ş. Private 1601,668,870,610 32Progıda Tarım Ürünleri San. ve Tic. A.Ş. Private 1621,659,890,442 33Memişoğlu Tarım Ürünleri Ticaret Ltd. Şti. Private 1631,657,770,098 34Mutlu Makarnacılık San. ve Tic. A.Ş. Private 1711,582,128,034 35Reka Bitkisel Yağlar San. ve Tic. A.Ş. Private 1721,580,286,065 36Aves Enerji Yağ ve Gıda Sanayi A.Ş. Private 1731,568,931,018 37Sofra Yemek Üretim ve Hizmet A.Ş. Private 1791,510,764,276 38Abalıoğlu Yem Sanayi A.Ş. Private 1811,466,274,986 39Doğuş Çay ve Gıda Maddeleri Üretim Pazarlama İth. İhr. A.Ş. Private 1821,455,188,154 40Gedik Tavukçuluk ve Tarım Ürünleri Tic. San. A.Ş. Private 1831,452,451,874 41Tat Gıda Sanayi A.Ş. Private 1851,441,679,506 42Balsu Gıda San. ve Tic. A.Ş. Private 1921,409,406,342 43Çekok Gıda San. ve Tic. A.Ş. Private 1931,408,835,710 44Bifa Bisküvi ve Gıda Sanayi A.Ş. Private 1971,397,381,075 45Arslantürk Tarım Ürünleri San. İhr. ve İth. A.Ş. Private 2051,356,905,227 46Aydın Kuruyemiş San. ve Tic. A.Ş. Private 2081,349,303,854 47Aynes Gıda San. ve Tic. A.Ş. Private 2151,307,126,427 48Kadooğlu Yağ San. ve Tic. A.Ş. Private 2211,291,342,453 49Tadım Gıda Maddeleri San. ve Tic. A.Ş. Private 2221,283,051,595AUGUST 2021 127 Sectors Rank in ISO Top 500 Production - based Sales (Net) (TL) 50Hastavuk Gıda Tarım Hayvancılık San. ve Tic. A.Ş. Private 2291,259,886,155 51Göknur Gıda Maddeleri Enerji İmalat İth. İhr. Tic. ve San. A.Ş. Private 2301,239,462,094 52Yayla Agro Gıda Sanayi ve Nakliyat A.Ş.Private2331,219,078,300 53Elvan Gıda San. ve Tic. A.Ş.Private2371,182,023,253 54Elita Gıda San. ve Tic. A.Ş.Private2491,135,507,738 55Savola Gıda San. ve Tic. A.Ş.Private2521,131,148,454 56Beşler Makarna Un İrmik Gıda San. ve Tic. A.Ş.Private2591,086,612,632 57Yavuz Gıda San. ve Tic. A.Ş.Private2601,084,510,516 58Kent Gıda Maddeleri San. ve Tic. A.Ş.Private2681,053,903,612 59Lesaffre Turquie Mayacılık Üretim ve Ticaret A.Ş.Private2701,040,963,866 60Eksun Gıda Tarım San. ve Tic. A.Ş.Private2731,029,342,114 61Yonca Gıda Sanayi İşletmeleri İç ve Dış Ticaret A.Ş.Private2771,015,308,459 62Armada Gıda Tic. San. A.Ş.Private301958,201,851 63Nuh'un Ankara Makarnası San. ve Tic. A.Ş.Private302956,058,615 64Ofis Yem Gıda San. Tic. A.Ş.Private310937,480,944 65Akyem Adana Yem Yağ Biodizel Tarım ve San. Tic. A.Ş.Private315928,039,417 66Pınar Entegre Et ve Un Sanayii A.Ş.Private342844,890,720 67Doğuş Yiyecek ve İçecek Üretim San. Tic. A.Ş.Private344837,602,640 68Ulusoy Un San. ve Tic. A.Ş.Private345837,287,067 69Er Yem Gıda Tarım Ürünleri San. ve Tic. A.Ş.Private346834,690,034 70Nadir Yağ San. ve Tic. A.Ş.Private348829,046,333 71ADM Besin ve Tarım A.Ş.Private354815,798,498 72Kozlu Gıda İmalat San. Tic. ve Taşımacılık A.Ş.Private363804,710,316 73Bupiliç Entegre Gıda San. Tic. A.Ş.Private367799,823,269 74Tarımkredi Birlik Tarım Ürünleri Hayvancılık Ambalaj Petrol Nakliyat İth. İhr. San. ve Tic. A.Ş.Private368797,808,118 75Tukaş Gıda San. ve Tic. A.Ş.Private371789,197,658 76Çamlı Yem Besicilik San. ve Tic. A.Ş.Private375771,886,085 77ISS Hazır Yemek Üretim ve Hizmet A.Ş.Private376769,424,658 78Ulaş Gıda Un Tekstil Nakliye Tic. ve San. A.Ş.Private378765,911,234 79Özgün Gıda San. ve Tic. Ltd. Şti.Private379763,220,900 80Oruçoğlu Yağ San. ve Tic. A.Ş.Private380762,960,529 81Agromey Gıda ve Yem San. Tic. A.Ş.Private382758,940,785 82-Private388- 83Peyman Kuruyemiş Gıda Aktariye Kimyevi Maddeler Tarım Ürünleri San. ve Tic. A.Ş.Private399717,336,409 SECTORAL128 AUGUST 2021 Sectors Rank in ISO Top 500 Production - based Sales (Net) (TL) 84S.S. Marmara Zeytin Tarım Satış Kooperatifleri Birliği Private 403708,947,244 85Poyraz Poyraz Fındık Entegre San. ve Tic. A.Ş. Private 406701,432,622 86Özyılmaz Fındık San. ve Tic. A.Ş.Private408699,530,150 87Yörükoğlu Süt ve Ürünleri San. Tic. A.Ş.Private409698,575,376 88Teksüt Süt Mamülleri San. ve Tic. A.Ş.Private410696,728,518 89Durum Gıda San. ve Tic. A.Ş.Private417691,661,744 90Verde Yağ Besin Maddeleri San. ve Tic. A.Ş.Private421685,638,160 91Kervan Gıda San. ve Tic. A.Ş.Private424682,485,550 92Beşler Et Gıda San. ve Tic. A.Ş.Private434665,890,514 93Unat Yağ Gıda San. ve Tic. A.Ş.Private440658,672,098 94Yavuzkan Hazel Gıda San. ve Tic. Ltd. Şti.Private446650,669,779 95Erişler Yem San. ve Tic. A.Ş.Private449644,015,493 96Enka Süt ve Gıda Mamülleri San. ve Tic. A.Ş.Private450642,641,655 97Detay Gıda San. ve Tic. A.Ş.Private452638,001,094 98Omnia Nişasta San. ve Tic. A.Ş.Private455636,798,304 99TARFAŞ Tarımsal Faaliyetler Üretim San. ve Tic. A.Ş.Private456635,815,160 100Aycan Entegre Gıda A.Ş.Private459633,099,625 101Soyyiğit Gıda San. ve Tic. A.Ş.Private461631,313,636 102Felda Iffco Gıda San. ve Tic. A.Ş.Private462629,715,672 103Ova Un Fabrikası A.Ş.Private465627,930,851 104Işık Tarım Ürünleri San. ve Tic. A.Ş.Private466626,416,613 105Kula Yağ ve Emek Yem San. Tic. A.Ş.Private468617,631,137 106Dardanel Önentaş Gıda Sanayi A.Ş.Private475602,076,286 107Gürsoy Yem Gıda ve Hayvancılık San. Tic. A.Ş.Private477600,125,735 108Şenocak Gıda Fındık Entegre Tur. Nak. İnş. San. Tic. Ltd. Şti.Private484593,519,490 109Assan Gıda San. ve Tic. A.Ş.Private490588,404,926 1Coca-Cola İçecek A.Ş. Private 514,117,019,413 2Anadolu Efes Biracılık ve Malt Sanayii A.Ş. Private 1891,422,841,560 3Türk Tuborg Bira ve Malt Sanayii A.Ş.Private1951,400,611,815 4Sırmagrup İçecek San. ve Tic. A.Ş.Private369796,458,250 5Mey Alkollü İçkiler San. ve Tic. A.Ş.Private425682,118,135 6Uludağ İçecek Türk A.Ş.Private427672,851,240 Manufacture of beverages 11Next >