Saudi Arabia dominates the list with 37 companies, led by Saudi Aramco in first place, followed by the United Arab Emirates in second place with 20 companies, led by First Abu Dhabi Bank, according to a press release.
Qatar ranks third with 17 companies, led by the Qatar National Bank Group, and for the second year in a row, these countries together constitute about 75% of the list companies..
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, and 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.
Forbes Middle East gathered financial information and data from the consolidated financial statements of companies, capital markets in the countries of the region, and evaluating companies on the basis of sales, profits, assets and market value..
Public companies affiliated with other companies listed in the capital markets were excluded, 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 percent and 38.5 percent, 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 percent of the total list..
And the market value of about 93 percent of companies increased compared to 2020, and 62 percent of companies managed to increase the value of their assets, and despite last year’s challenges faced by companies around the world, the year’s list included 8 newcomer companies..