Union of Chambers and Commodity Exchanges of Turkey

Lead by TOBB in cooperation with TEPAV, taking into account applicant companies’ 2015-2017 annual revenue growth, the competition to determine Turkey's top 100 fastest growing companies has ended. The results of the competition were announced at a ceremony held in Samsun on the occasion of the 100^th anniversary of Gazi Mustafa Kemal Atatürk's landing in Samsun to start the War of Independence. The ceremony was attended by Minister of Commerce Ruhsar Pekcan, Minister of Industry and Technology Mustafa Varank, TOBB President M. Rifat Hisarcıklıoğlu and many Chamber-Exchange Presidents as well as TOBB Women and Young Entrepreneurs Council Presidents.

Hisarcıklıoğlu started his speech his May 19^th message. Hisarcıklıoğlu, stating that it is the centennial anniversary of Gazi Mustafa Kemal Atatürk’s landing in in Samsun on May 19^th, 1919, beginning the nations Independence War, “May 19^th is the first step in our nation’s fight to exist who accept no bondage, would never give up their liberty now bow down to persecution. It is an uprising looked upon as an example by the oppressed all over the world. From Samsun, the spark spread out in waves all over Anatolia, launching an epic fight for independence, ensuring the rebirth of a nation from the ashes. We owe this to the War of Independence, which began in 1919 and ended in 1922 with the Great Victory, being recognized throughout the world with the Treaty of Lausanne in 1923.

With infinite and eternal gratitude, we remember Gazi Mustafa Kemal Ataturk, the founder of our republic, and our sainted veterans and martyrs who put their lives on the line for the freedom of our nation and the independence of our country. We must understand well this spirit of a century ago. The Turkish nation won when it embraced itself; lost as it dissented. With this spirit, sparked in Samsun, this determination and faith, we must win again and embrace each other. With this in mind, in memory of this epic struggle, we will be announcing the fastest growing companies of our country. The Turkey 100 awards ceremony is being held in Samsun on May 19^th, 2019. I would like to thank all of our Chambers and Commodity Exchanges hosting us in Samsun today. I also congratulate our women and young entrepreneurs coming from all over Turkey.”

- 100 companies' average growth rate is 605%

Hisarcıklıoğlu stated that the last 2 years’ turnover growth rate of the companies were taken into consideration during the preparation of the Turkey 100 list, “The companies that fill this hall have made tremendous achievement in this field. The average growth of Turkey's top 100 fastest growing companies in this period is a striking 605%.” TOBB President stated that these companies achieved 18 times the national income increase while also increasing production per employee, their efficiency, by 332% on average.

Reporting that in 2017, each company's made sales worth an average of 60 million TRY and that each company has approximately employed 93 people, Hisarcıklıoğlu said, “In the 2015-2017 period, employment of Turkey 100 companies increased by 70%. Of Turkey 100 companies, 63% are engaged in exports. They are exporting goods to 68 countries. I heartily congratulate all of the companies showing such great success and qualifying to enter the Turkey 100. This success certainly does not come by itself. The companies are both young and innovative as well as sustainable. The average age of Turkey 100 companies is 11.5. Turkey 100 companies use digital technology very well; they do not see the resources they devote to the education of employees as a burden but put great importance on it. 10 companies which entered Turkey 100 previous also took place in the 2019 list. Here are two more very important points: the regional distribution of Turkey 100 list is quite remarkable. Apart from the 3 major cities, there are companies from 22 other cities on the list. The rise of Anatolia is clearly seen here as well.

There is also an interesting distribution in terms of sectors. In the list, there are companies from a myriad of sectors such as informatics, telecom, construction, logistics, food, textiles, plastics, machinery.

This diversity is in fact proof that there are opportunities in every sector in our country. It is the best proof that success can be achieved in every sector with the right business model.”

- Ingenuity deserves compliment

Stating that there are three reasons why they find Turkey 100 to be so important, TOBB President Hisarcıklıoğlu said: “The first is; as our saying goes, ‘ingenuity deserves compliment.’ Here are those most deserving of compliment: Entrepreneurs who play a pioneering role in the enrichment of this country, pay taxes, produce, export and provide employment. Especially in such periods, we want to thank the companies who achieve great success, to appreciate Turkey's top 100 fastest growing companies. Secondly, we want these companies, which are well-managed and bright, to come forward, to open more and to grow further. That is why we're introducing Turkey's top 100 fastest growing companies to everyone. We make it easier for investors and customers to reach them.

We want them to be active not only in Turkey, but also abroad. We support this. The third reason we care about this is that in this day, the key to prosperity and development is entrepreneurship. We need more entrepreneurs.

As you know, entrepreneurship is a work of enthusiasm. With Turkey 100 competitions, want to increase the number of our entrepreneurial role models. Every company here wants to be an example to new entrepreneurs. We want all of our youth, our women, to hear their success stories in this hall. They should be more enthusiastic about being an entrepreneur.

- Trade Minister Ruhsar Pekcan

Trade Minister Ruhsar Pekcan said in her speech, “In order to increase our exports with high added value and branded products, we foresee providing support approximating 3.104 billion TL this year, starting from the SME level and moving towards becoming a corporate and global brand.”

Pekcan reported that most of the 20 most profitable companies in the world today are companies producing information technology, technology and high technology; companies which have new entrepreneurship ideas and searches for and invests in new technology, becoming playmakers of the global economy.

In this century where profits and competitiveness through innovation have become one, Pekcan stated that the way to raise Turkey to high income is through improving the country's class innovation and innovative technologies, “This will be possible only by supporting our country’s entrepreneurs.”

- Industry and Technology Minister Mustafa Varank

In his speech, Minister of Industry and Technology Mustafa Varank stated, “The second call of the TUBITAK Individual Youth Initiative Program has been concluded. We hope to provide up to 200,000 TRY in grants to 146 young entrepreneurs engaged in technology focused projects.”

Varank stated that the fastest growing 100 companies are from 36 different sectors and said:

“Looking at the profiles of Turkey's top 100 fastest growing companies determined by TOBB, we see that in 36 different sectors, technology-driven and export-growing firms are at the fore. R&D, innovation and technology-focused, boasting qualified human resources and environmentally-sensitive companies which have grown 18 times faster than Turkey; achieving this as well as increasing their employment. When we look at these 100 companies engaged in exports to 68 countries, on average, they were established 11-12 years ago, the average age of the managers is 46. Taking all this data into account, we see that the formula of healthy growth is technology, qualified manpower, production and export.”

- Listed companies increased their employment by 70%

The winner of the Turkey's top 100 fastest growing companies in the competition determined by 2015-2017 turnover was the Aydın based Biomar Sagun Feed Industry Company with a turnover rate of 5,324%. Following it were Optimal Project Management and Construction (4,452%) from Istanbul, Natural Renewable Energy (3,774%) from Ankara, Vergo Energy Systems (3,030%) from İzmir and Profen Defense and Security Technologies from Ankara (2,320%).

The 100 fastest growing companies in Turkey increased their average turnover rate an average of 605% during 2015-2017. The average turnover of the listed companies is 59.8 million TRY.

Nominal income of the companies’ is 18 times the increase rate of Turkey's nominal GDP. Companies increased their employment by 70% in 2015 - 2017. 63% of these 100 companies export. In exports, Germany stands out as the preferred target. Export companies are concentrated in the wholesale trade sector. 36 companies from different sectors are in the Turkey 100 list, making exports to 68 different countries.

- Ankara companies on the attack

While Aydın took the top spot in the Turkey 100 Competition, the highest number of companies to enter the rankings were from Istanbul, followed by Ankara with 22 companies, Antalya with 7 companies, Kocaeli with 5 companies, Adana, Bursa and Kahramanmaraş with 4 companies each. The list features companies from 25 different provinces.

- Age of companies

The average age of the fastest growing companies is 11.5. The average age of the CEO is 45.9. The CEO of 10 companies is under 35 years old. Most of the fastest growing companies have a partner from the family or from outside the family. The number of companies with company founders from the same family are 58. The number of companies whose founders are not from the same family are 42.

Number of companies with a single founder are 30. 13 of them are completely under founder control and there is no senior management professionals. The average number of founders in companies 2.4. The number of firms that include professionals in the senior management of the company, besides the founders, is 55.

- Level of education in the first 100

In the fastest growing companies, it is noted that the level of education of the people who are the final decision-makers is high. The most competent person in the list 79 of Turkey 100 companies are graduates of university or higher. The training distribution of the most competent persons is as follows; University graduate 58, doctorate 3, graduate 18, vocational school graduate 3, high school graduate 7, vocational high school graduate 6, elementary school graduate 5.

Companies with employees of university or higher education 51% or more is 42.

- Sector status

Looking at the sectoral breakdown of the Turkey 100 companies, “wholesale trade” took first place with 16 companies. 90% of companies in 2019 aims to increase the number of employees. 77% of the firms pay attention to organize internal and external training activities to increase the qualifications of their employees. Of the 100 fastest growing companies, 35 are helping employees build their own businesses.