Teva Pharmaceutical Industries. .
(photo credit: Ariel Jerozolimksi)
Profits at nearly a third of the 500 leading
companies in the economy - those with the largest turnover - were hit
in 2008 by the recession that gained momentum in the second half of
last year, compared with 9 percent in the previous year, Business Data
Israel reported on Sunday.
"The increase in the companies making losses can
be attributed to the fall in the dollar rate in 2008, which has mainly
hit exporters, coupled with the steep drop in exports in the fourth
quarter of last year hurting the profitability of companies," said BDI
On Sunday, BDI Coface published its fifth annual ranking of
Israeli companies, which showed that 28% of the 500 leading companies
reported losses last year, compared with 9% in 2007. At the same time,
though, the combined revenue of the 500 companies grew by 7%, to NIS
853 billion in 2008, from NIS 797b. in the previous year.
The combined turnover of the 100 leading companies increased by 8%, to NIS 611b., from NIS 565b. a year earlier.
reason for the overall increase for the year is a result of positive
growth the economy saw in the first half of 2008," said BDI economists.
The number of workers at the 500 leading companies rose by 5.7% last year, to 822,000, compared with 777,600 in 2007.
BDI economists said that the findings pointed to
a strong correlation between a company's turnover ranking and its
ranking as of the best companies to work for. All 62 companies at the
top of the list of the best places to work for were also ranked among
the 100 leading companies. Another strong correlation was detected
between a company's ranking as rated by managers and its turnover
ranking. The first 67 leading companies were also among the 100 most
appreciated companies in the economy.
Teva Pharmaceuticals Industries Ltd. secured its spot at the
top of the 500 leading companies, followed by Israel Chemicals, which
moved up three places from last year to second place, taking the spot
of the Israel Electric Corporation, which came in third on the list.
Delek Petroleum moved down one spot to fourth place on the turnover
ranking, followed by Bezeq, which climbed from 11th place to fifth
place this year.
BDI's ranking of top 10 companies
1. Teva Pharmaceuticals Industries Ltd.
2. Israel Chemicals Ltd.
3. Israel Electric Company
4. Delek Petroleum
5. Bezeq Corp.
6. Bazan Oil Refineries
7. Israel Aviation Industry
8. Delek Alon Group
9. Elbit Systems
10. Paz Oil Company
(Source: Business Data Israel)