3 Jordanian companies among the 100 most powerful companies in the Middle East

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Riyad – Ahmed Salah – Forbes Middle East unveils its annual list of the “100 Most Powerful Companies in the Middle East” for the year 2022, highlighting the largest, most valuable and profitable companies in the region, including 3 Jordanian companies.

The list was prepared based on information and data from 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. The companies that did not disclose their consolidated and audited financial statements for the year 2021 were excluded, until April 20, 2022.

For the third year in a row, the oil and gas giant Saudi Aramco, with sales of $400.5 billion, and a market value of $2.3 trillion, topped the list. While SABIC ranked 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 Qatari company ranked among the top 20 in the list.

While Saudi Arabia dominated the year’s list with 33 companies, followed by the UAE with 25 companies, then Qatar with 16 companies, to make 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

Jordan 3

Emirates 25

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Bahrain 5

Egypt 3

diameter 16

Morocco 5

Oman 2

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

The significant increase in oil prices led to a rapid recovery in the Gulf states, where companies in the Middle East region witnessed a strong performance, with the top 100 companies reporting consolidated profits of $201.7 billion in 2021, compared to $91 billion in 2020. In total, the The total market values ​​of 100 companies amounted to 4 trillion dollars, compared to 3 trillion dollars in the list last year. The total assets of companies also rose to $4.2 trillion, and revenues jumped by 44%, or about $794 billion.

Thanks to the recovery of the business environment, our list for 2022 saw the entry of 24 new companies, some of which were recently included in the region’s markets, such as the 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 revealed its first list of “The 50 Most Powerful Companies in Egypt” for 2022, which includes the most profitable and most valuable companies in the country. The total market values ​​of 50 companies amounted to about $28.5 billion, and total assets exceeded $142 billion. While the total sales of the companies amounted to 39.1 billion dollars, and the total net profits of 5.4 billion dollars.

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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- The &e . group

Country: UAE

Sector: Telecom

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 dollars

Sales: $12.4 billion

Net Profit: $1.6 billion

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Assets: $49.1 billion

10- Saudi Telecom Company (stc)

Country: Saudi Arabia

Sector: Telecom

Market value: $60.8 billion

Sales: $16.9 billion

Net profit: $3.1 billion

Assets: $34.1 billion

About Forbes Middle East

Forbes Middle East is licensed by 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 lifestyle. Our monthly magazine features exclusive interviews with the most influential and innovative leaders in the Middle East, and is published in both English and Arabic with digitized versions available for regional and global readers on our website.

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

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