• Saudi Arabia dominates the list with 36 companies

  • The total market value of the top 100 companies in the Arab world reached $772 billion

  • 49% of the top 100 companies are from the banking and financial services sector

  • Global Telecom Holding (#33) was the top gainer

  • 10 new companies joined the top 100 list

Dubai, U.A.E. June 20, 2017

In its June issue, Forbes Middle East unveiled its 2017 ranking of the Top 100 Companies in the Arab World. 

Saudi Arabia continues to dominate the list with 36 companies. SABIC, which is from the kingdom, emerged at the top. With the rise in oil prices, the total market value of the top 100 companies in the Arab world reached $772 billion in April 2017, gaining 12% compared to the previous year. Although aggregate net profits decreased by 9.7% to $52.9 billion, sales and total assets increased by 2.4% and 3.8% to reach $288.3 billion and $2.7 trillion respectively as companies’ operational performance was relatively stable.

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Following a wave of mergers and acquisitions across the region, banks and financial services take the largest share in terms of sector. The industrial sector and telecommunications came in second and third with Etisalat (#5) being the biggest telecommunications company across all metrics and Industries Qatar (#31) as the biggest industrial company in the list. 

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Global Telecom Holding (#33) was the top gainer in the list. Breaking the ranks this year are 10 new entrants: Omantel (#71), National Bank of Bahrain (#83), LafargeHolcim Maroc (#89), Elsewedy Electric (#92), Emaar The Economic City (#94), Saudi Ground Services (#94), Advanced Petrochemical Company (#97), BBK (#98), National Bank of Oman (#99) and Mannai Corporation (#100).

Khuloud Al Omian, Editor in Chief of Forbes Middle East said, “Although oil prices drive the Arab region’s economy, the share of banking and financial services followed by telecommunication and industrial sector is a positive sign towards more vibrant growth for companies in the region.”

Methodology:

A total of 1,300 listed companies were selected across the Arab stock markets from Saudi Arabia, Qatar, Oman, Jordan, Egypt, Kuwait, Bahrain, U.A.E. (Abu Dhabi and Dubai), Lebanon, Morocco and Tunisia. Those suspended from trading or who didn’t disclose their 2016 financial statements were excluded. Four metrics were measured: market value, sales, net profit and total assets. Market value and currency conversions are as of April 6, 2017. The cut-off was $1.9 billion for market value, $849 million for sales, $133 million for net profit and $5 billion for total assets. Each company received four separate scores based on its ranking on each metric within the list. To qualify, a company had to meet the minimum for at least one metric. 154 listed companies qualified at minimum one metric. All four scores were added (equally weighted) to reach a composite score and rank the companies.

The complete list can be viewed at: 

http://www.forbesmiddleeast.com/en/list/the-top-100-companies-in-the-arab-world-2017/ 

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About Forbes Middle East
Forbes Middle East is a licensee of Forbes Media, and extends the Forbes brand of journalism across the Arab world. Forbes Middle East's distinctive editorial style attracts a readership of Arab leaders, entrepreneurs, C-level executives, government officials and investors united by a belief in the spirit of free enterprise and entrepreneurial values. 

Across the region, Forbes Middle East sets the pace for preemptive business journalism. By uncovering trends and anticipating opportunities in the regional marketplace, each monthly issue brings top executives the information critical to their success – in both Arabic and English language editions.

The magazine researches and publishes original rankings, based on methodologies set by Forbes Media.

For more information, please visit www.forbesmiddleeast.com  or follow us social on Facebook, Twitter and LinkedIn.

© Press Release 2017