BDI: Teva again Israel’s business leader

By SHARON WROBEL
August 1, 2010 23:27

84 percent of the 500 leading companies reported a profit last year.

2 minute read.



Teva Pharmaceutical Industries.

Teva Pharmaceutical Industries. . (photo credit: Ariel Jerozolimski)

Teva Pharmaceuticals Industries Ltd., again topped the list of the 500 largest companies in the country in 2009 in terms of revenue volume, Business Data Israel reported on Sunday.

“The companies’ financial statements show improved profits, indicating that the same companies managed to adapt themselves to the crisis and have used the period to become more efficient and stronger,” BDI co-CEO Eyal Yanai said.

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“We are seeing that a large part of the companies are less leveraged while they have diversified credit sources and are cutting financing costs. All of these factors contributed to the companies’ stability and improvements they made over the previous year.”

BDI Coface’s sixth annual ranking of Israeli companies showed that 420, or 84 percent, of the 500 leading companies reported a profit last year, representing an increase of 17 percentage points.

“The great improvement is mainly a result of the recovery in business activity in the second half of 2009,” BDI economists said.

In 2008, profits at nearly a third of the 500 leading companies – those with the largest turnover – were hit by the recession that gained momentum in the second half of last year, compared with 9% in the previous year.

Still, the combined turnover of the 500 leading companies declined by 2% last year and stood at NIS 824 billion, compared with NIS 841b. in 2008. Out of the total revenue, 72%, or NIS 590b., was generated by the 100 top companies.

The 500 leading companies employed 830,000 workers last year compared with 822,000 in 2008. In 2009, 55% of the 830,000 employees worked at the top 100 companies. Average revenue per worker was NIS 1 million a year.

BDI economists said there was a very close correlation between a company’s high ranking in the list of leading companies and its ranking in BDI’s list of the best companies to work for. A comparison of the two lists showed that 60 of the companies ranked as the best companies to work for are also ranked among the top 100 leading companies in the economy.

Teva, in the top spot with a turnover of NIS 54.6b. and over 35,000 employees, was the only company that preserved its spot from last year’s ranking. Israel Electric Corporation, which generated NIS 18.7b. in revenues and employs 12,663 workers, moved up to second place in the ranking from third place.

In the 2009 ranking, four new companies entered the top 10 list. Intel Israel saw the largest gain, jumping to third place with revenues of NIS 13.4b. and 6,343 workers, from 32nd place in the previous year, thanks to the start of production at its new plant in Kiryat Gat.

The two largest banks, Bank Leumi and Bank Hapoalim, came in fifth and sixth place in the ranking, from 12th and 18th place, respectively, a year earlier, and Clalit Health Services leaped to ninth place from 13th place in 2008.

Israel Chemicals Ltd.

moved down two places from last time, to the fourth place in the ranking. Delek Petroleum fell to seventh place from the fourth spot in the previous year and Oil Refineries Ltd. was ranked in eighth place from sixth place last time. Israel Aerospace Industries Ltd. dropped three places to 10th position.


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