Forbes Middle East unveils list of 100 most powerful companies in the Middle East

The combined market capitalization of the 100 companies listed is $ 4 trillion.

24 new companies join this year’s list.

Saudi companies dominate the list with 33 companies, followed by the United Arab Emirates with 25 companies.

Saudi Aramco retains its position as the most valuable company in the region for the third consecutive year.

Dubai: Forbes Middle East unveils its annual list of the “100 Most Powerful Companies in the Middle East” for 2022, highlighting the largest, most valuable and profitable companies in the region.

The list was compiled based on information and data of the financial markets in the countries of the region, to classify companies according to market value, sales, total assets and net profits for the year 2021. Companies that have not disclosed their consolidated and audited financial statements not. statements for the year 2021 are excluded, until 20 April 2022

For the third consecutive year, oil and gas giant Saudi Aramco topped the list, with sales of $ 400.5 billion and a market value of $ 2.3 trillion. SABIC is second with sales of $ 46.6 billion and a market value of $ 100.5 billion, followed by Qatar National Bank Group in third place with sales of $ 14 billion and a market value of $ 59.1 billion, and it is the only one Qatari company ranked among the top 20. in the list.

While Saudi Arabia dominated this year’s list with 33 companies, followed by the UAE with 25 companies, then Qatar with 16 companies, making up 3 Gulf countries about 75% of the classification.

List of the 100 most powerful companies in the Middle East 2022

Saudi Arabia

33

Kuwait

8

Jordaan

3

VAE

25

the two seas

5

Egypt

3

Diameter

16

Morocco

5

Amman

2

Like last year’s list, the banking and financial services sector topped the list with 42 companies, with banks accounting for about 50% of the companies ranked among the top 10 companies in the Middle East. The industrial and communications sectors are each followed by 11 companies. However, the energy, industrial and petrochemical companies were the most profitable, accounting for 65% of the total profits of the 100 companies on the list.

The significant rise in oil prices led to the rapid recovery in the Gulf states, where companies in the Middle East experienced strong performance, with the top 100 companies recording consolidated profits of $ 201.7 billion in 2021, compared to $ 91 billion in 2020. In total, the The total market value of 100 companies amounted to 4 trillion dollars, compared to 3 trillion dollars in the list last year. The total assets of companies also increased to $ 4.2 trillion, and revenue increased by 44%, or about $ 794 billion.

Thanks to the recovery of the business environment, our 2022 list saw the entry of 24 new companies, some of which have recently been included in the region’s markets, such as Dubai Electricity and Water Authority “DEWA”, Alpha Abu Dhabi Holding, Vertiglobe, ADNOC Drilling, ACWA Power, Abu Dhabi Ports Group and (Solutions by stc) and Al-Nahdi Medical Company.

Forbes Middle East also unveiled its first list of “The 50 Most Powerful Companies in Egypt” for 2022, which includes the most profitable and valuable companies in the country. The total market value of 50 companies was about $ 28.5 billion, and the total assets exceeded $ 142 billion. While the total sales of the companies amounted to $ 39.1 billion, and the total net profit of $ 5.4 billion.

You can find the complete list of the 100 most powerful companies in the Middle East 2022 here.

Top 10 most powerful companies in the Middle East 2022

1- Saudi Aramco

Country: Saudi Arabia

Sector: Energy

Market capitalization: $ 2.3 trillion

Sales: $ 400.5 billion

Net profit: $ 110 billion

Assets: $ 576.7 billion

2- Saudi Basic Industries Corporation (SABIC)

Country: Saudi Arabia

Sector: Industry

Market value: $ 100.5 billion

Sales: $ 46.6 billion

Net profit: $ 8.1 billion

Assets: $ 84.9 billion

3- Qatar National Bank Group (QNB)

Country: Qatar

Sector: Banking and Financial Services

Market value: $ 59.1 billion

Sales: $ 14 billion

Net profit: $ 3.6 billion

Assets: $ 300.3 billion

4- Saudi National Bank

Country: Saudi Arabia

Sector: Banking and Financial Services

Market value: $ 87.3 billion

Sales: $ 8.6 billion

Net profit: $ 3.4 billion

Assets: $ 243.8 billion

5- Al-Rajhi Bank

Country: Saudi Arabia

Sector: Banking and Financial Services

Market value: $ 119.9 billion

Sales: $ 7.1 billion

Net profit: $ 3.9 billion

Assets: $ 166.3 billion

6- First Abu Dhabi Bank

Country: UAE

Sector: Banking and Financial Services

Market value: $ 68.8 billion

Sales: $ 8.2 billion

Net profit: $ 3.4 billion

Assets: $ 272.4 billion

7- Saudi Electricity Company

Country: Saudi Arabia

Sector: Utilities

Market value: $ 29.8 billion

Sales: $ 18.5 billion

Net profit: $ 3.8 billion

Assets: $ 126.6 billion

8- Emirates NBD Bank

Country: UAE

Sector: Banking and Financial Services

Market value: $ 25.8 billion

Sales: $ 9.8 billion

Net profit: $ 2.5 billion

Assets: $ 187.2 billion

9- & groupe

Country: UAE

Sector: Telecommunications

Market value: $ 83.1 billion

Sales: $ 14.5 billion

Net profit: $ 3 billion

Assets: $ 34.9 billion

10- Abu Dhabi National Energy (TAQA)

Country: UAE

Sector: Utilities

Market value: $ 41 billion

Sales: $ 12.4 billion

Net profit: $ 1.6 billion

Assets: $ 49.1 billion

10- Saudi Telecom Company (stc)

Country: Saudi Arabia

Sector: Telecommunications

Market value: $ 60.8 billion

Sales: $ 16.9 billion

Net profit: $ 3.1 billion

Assets: $ 34.1 billion

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About Forbes Middle East

Forbes Middle East is issued under license from the Forbes global brand as a special edition for the Arab world, and seeks to promote business journalism. Our online and social media platforms cover breaking news on topics including billionaires, corporations, investments, technology, the economy, entrepreneurship, leadership, and luxury living. Our monthly magazine features exclusive interviews with the most influential and innovative leaders in the Middle East, and is published in English and Arabic with digitized versions available to regional and world readers on our website.

Forbes Middle East has expanded the Forbes brand’s presence in the field of journalism around the Arab world by conducting its own comprehensive research to publish its lists of accurate methodologies. Its content attracts business leaders, investors and a broad audience of aspiring and influential CEOs.

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