The banking and financial services sector is the most represented in the list with 42 banks, down from 46 banks in 2020, and 5 banks came among the top 10 in the list, as well as the real estate, construction and industry sectors come in second place with 10 companies each, while the industry and communications sector He came in third place
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To prepare the list, Forbes Middle East gathered financial information and data from the consolidated financial statements of companies, stock markets in the countries of the region, and valuation of companies based on sales, profits, assets and market value.
It excluded public companies affiliated with other companies listed in the capital markets, as well as companies that did not disclose the audited consolidated financial statements for the year 2020, until May 3, 2021.
The companies listed in the current year’s list recorded consolidated sales of $550 billion, while consolidated net profits amounted to $91 billion, down 17.9% and 38.5%, respectively, compared to last year’s list.
The market value of the companies listed for the year is about $3 trillion, an increase of 30.4 percent compared to 2020, while the market value of Saudi Aramco is about $1.9 trillion, which constitutes more than 60% of the total list.
In general, the market value of about 93% of companies increased compared to 2020, and 62% of companies managed to increase the value of their assets, and despite the challenges faced by companies around the world last year, the year’s list included 8 newcomer companies.