According to the data of the research ‘2019 Sector Balance Sheets’ prepared by Turkish Statistical Institute and Central Bank of Turkey, there has been a steady increase in the gross sales of companies operating in the construction industry in the 10-year period.
Total gross sales of these firms were valued at 96.3 billion liras in 2010, increased to 215 billion liras in 2015 and to 473.6 billion liras in 2019. The domestic gross sales of construction companies increased from 89.5 billion lira to 431.8 billion liras, and the foreign sales increased from 4.9 billion liras to 31.5 billion liras in the last 10 years. On the other hand, “other revenues”, which is under gross sales in the income statement, rose from 1.8 billion liras to 10.3 billion liras in this period. Hence, the gross sales of construction firms increased nearly 5 times in the last 10 years.
The momentum captured in sales also manifested itself in asset increases. During this 10-year period, the asset size of the companies operating in the construction sector rose from 379.5 billion liras to 1 trillion 244 billion liras with an increase of 227.8 percent, and their equity rose from 71.9 billion liras to 246.8 billion liras with an increase of 243.1 percent.
Sales of real estate companies have also multiplied
There was also an increase in the sales of real estate companies which are closely related to the construction sector; their sales increased from 4.5 billion liras to 32.9 billion liras in the period between 2010-2019. These companies increased their domestic gross sales from 4.1 billion liras to 31.1 billion liras, and their foreign sales from 50 million liras to 427 million liras in the 10-year period; the “other revenues” also increased from 363 million liras to 1.4 billion liras in this period.
Real estate firms managed to increase their asset size by approximately 6 times, from 35.2 billion liras to 213.4 billion liras in this period. These companies also increased their equity from 18.4 billion liras to 49.3 billion liras in the period between 2010-2019.
source: AA / translated by Melisa Karayusufoglu