As the year draws to a close, the Tax Committee's recent release of turnover data for the third quarter has shed light on the financial performance of various companies in Uzbekistan. This transparency enables us to track the success of businesses across different sectors. The following article is based on the data and analysis compiled by Timurmalik Elmuradov, who runs “Skartariss Peak” Telegram channel.
In the realm of public catering, KFC and Evos continue their fierce competition for the top spot, much like the previous year. These two giants have reported impressive turnovers of UZS 432bn (35.5mn) and UZS 426bn ($35mn), respectively. They stand head and shoulders above their competitors in the industry.
However, a rising contender is Max Way, with a current turnover of UZS 47.5bn ($3.9mn), nearly ten times smaller than the leaders. Despite this significant difference, Max Way's rapid growth suggests they could soon challenge KFC and Evos.
In the automotive market, UzAuto Motors and ADM Jizzakh, representing Kia, Renault, Lada, and Chery, are vying for dominance. UzAuto Motors takes the lead with a turnover of UZS 38.2 trillion ($3.1bn), while ADM Jizzakh follows with UZS 6.7 trillion ($551mn). Interestingly, the gap between them has narrowed, decreasing from 6.2 times in the spring to 5.7 times, hinting at a potentially dynamic future in the industry.
The aviation market is not without its own contenders. Uzbekistan Airways reports an impressive turnover of UZS 11 trillion ($904.5mn), while Qanot Sharq is close behind at UZS 617bn ($50.7mn). Although the disparity is significant, having Qanot Sharq as a competitor in the market is a noteworthy development.
Korzinka, one of the nation's leading retailers, has posted a turnover of almost UZS 6 trillion ($493.3mn) since the beginning of the year. The company now holds the top position in terms of turnover and taxes paid in the entire trade sector. Notably, no other retailers make the list, possibly due to their smaller turnovers.
It's interesting to observe that Alif, with a turnover of UZS 1.2 trillion ($98.6mn), surpasses Nestle Food, which reported a turnover of UZS 1.1 trillion ($90.4mn). Tashkent Trade Center, responsible for Abu Sahiy, follows with UZS 981.4mn ($80.7mn), while the cigarette distributor Tashkent Tobacco boasts a turnover of UZS 1 trillion ($82.2mn).
In the telecommunications sector, Beeline, Ucell, and Mobiuz may appear similar in quality, but their turnovers differ significantly. Beeline has made UZS 2.5 trillion ($205.5mn), Ucell UZS 2 trillion ($164.4mn), and Mobiuz UZS 1.4 trillion ($115.1mn), reflecting the diverse landscape of this industry.
Turning to fintech, Uzcard leads the way with a turnover of UZS 678.4bn ($55.7mn), while Click follows closely behind with UZS 311.1bn ($25.5mn). In the telecom sector, O'zbektelekom reports a substantial turnover of UZS 6 trillion ($493.3mn), while IST Telekom shows a turnover of UZS 203bn ($16.6mn).
In the beverage industry, Coca-Cola has a 1.5 times higher turnover than its rival IBT (Pepsi, Lipton, Adrenaline Rush, Mountain Dew, Mirinda, and 7UP). Coca-Cola's turnover stands at UZS 4.4 trillion ($361.8mn), while IBT reports UZS 2.9 trillion ($238.4mn).
Overall, a large number of companies have already surpassed their 2022 turnover figures in just nine months of 2023. However, it's essential to consider that increased costs may also contribute to these higher turnovers. Regardless, turnover data remains a valuable indicator, as it represents the actual income derived from the sale of goods or services.
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