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.
“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.”
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
In 2008, profits at nearly a third of the 500 leading
companies – those with the largest turnover – were hit by the recession
gained momentum in the second half of last year, compared with 9% in the
Still, the combined turnover of the 500 leading companies
declined by 2% last year and stood at NIS 824 billion, compared with NIS
in 2008. Out of the total revenue, 72%, or NIS 590b., was generated by
The 500 leading companies employed 830,000 workers last
year compared with 822,000 in 2008. In 2009, 55% of the 830,000
at the top 100 companies. Average revenue per worker was NIS 1 million a
BDI economists said there was a very close correlation between a
company’s high ranking in the list of leading companies and its ranking
list of the best companies to work for. A comparison of the two lists
that 60 of the companies ranked as the best companies to work for are
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
company that preserved its spot from last year’s ranking. Israel
Corporation, which generated NIS 18.7b. in revenues and employs 12,663
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
largest gain, jumping to third place with revenues of NIS 13.4b. and
workers, from 32nd place in the previous year, thanks to the start of
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
place, respectively, a year earlier, and Clalit Health Services leaped
place from 13th place in 2008.
Israel Chemicals Ltd.
two places from last time, to the fourth place in the ranking. Delek
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.
Aerospace Industries Ltd. dropped three places to 10th position.