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Having completed a piece of research, Direction Business Reports has published the list of the 500 most powerful and profitable companies in Greece.

The enterprises and the industries are ranked based on their turnover for the fiscal year 2013. The 500 companies include 198 companies from the commercial sector, 159 industrial companies and 143 companies from the service sector.

The largest companies based on their turnover for 2013

"The selection of the Top 500 from the database of Direction Business Reports has detected the most enduring Greek and foreign companies operating in Greece. These companies had overcome the biggest recession in Greece since World War II with the least possible losses. Although the majority of the companies reported a decline in turnover in 2013 compared to 2012, due to the shrinking purchasing power of Greek citizens, they had ultimately endured, concentrating on the development of their distribution networks and on outward orientation", reads the statement of Direction Business Reports.

In particular, the report states the following: "Oil industry is at the top of the table for another fiscal year. Only the representatives of the industry, Hellenic Petroleum and Motor Oil, reported a decline in turnover and profit before tax. The contraction in the industry is inextricably linked to the internal recession, as the majority of Greeks have reduced car use and paid less for heating.

The Public Power Corporation ranks third. It is the largest company in Greece in terms of the number of employees. The company has to cope with the increasing number of unpaid bills due to the inability of households to pay their obligations to the state enterprises.

Fourth in the rankings is the lottery OPAP, which changed its ownership in the summer of 2013. Although the lottery reported a decrease in profits, it had remained one of the most dynamic companies with various games and a leading position in the field of gambling. In addition, the company will acquire the horse racing stakes for the following 20 years.

The Operator of Electricity Market ranks fifth. The company has reported improved financial results over the recent years.

Piraeus Bank, which is the largest bank in Greece based on the assets held, ranks sixth.

It is followed by Alpha Bank, the National Bank of Greece and Εurobank. These four systemic banks in the country reported satisfactory capital results and they are planning their next steps for 2015.

The Bank of Greece (10th place) is included in the list of the 500 largest companies in the country thanks to its turnover.

The sector of fuels and lubricants, despite the decline in turnover and profits, retained its dynamics in 2013, being represented in the top 15 by EΚΟ Ltd. (11th position) and Coral S.A. (12th position).

The supermarket chain "ΑΒ Vassilopoulos", which in 2014 made investments worth 80 million euro, ranks 13th.

Next on the list are the state gas company DEPA (14th place) and the telecommunications company OTE, followed by the operator of the Greek electricity grid, the Bank of Cyprus, OTE subsidiary Cosmote, the supermarket chain "Sklavenitis" and the commercial oil company Mamidoil Jetoil.

The most profitable companies based on the profits before tax

The leading companies based on the profits before tax for 2013 are banks, one of them being the Bank of Greece, which is the supervisory authority of the sector.

First on the list is Alpha Bank, which has changed its management after the withdrawal of President Ioannis Kostopoulos, whose place has been taken over by former Minister of Finance Vassilis Rapanos.

Piraeus Bank, the largest bank in the country according to its capitalization on the Stock Exchange, ranks second.

Folli Follie Group ranks fourth and it is first in the commercial sector.

Cosmote, which is a strong subsidiary of OTE in the field of mobile phones, ranks fifth, continuously developing and increasing its market share in the country, in the Balkans and Eastern Europe.

OPAP comes next and the 7th position is occupied by the national gas company DEPA, the privatization of which has been postponed by the government, at least for the time being.

S & B Industrial Minerals (8th place) continues to develop at an even more intense pace having been listed on the Stock Exchange and has an international presence in dozens of countries in Europe and Asia.

The top ten most profitable companies also include the National Insurance Company, a subsidiary of the National Bank, and the Operator of the electricity market in Greece.

Next on the list is Athens International Airport. A Chinese company has asked the government to buy the majority stake of the airport to turn it into a centre of attraction for Chinese airlines operating flights to Europe.

Jumbo continued to increase its profits in 2013 and to grow by opening new shops in Greece as well as in Romania, Bulgaria and other countries.

Despite the decline in demand for alcoholic drinks because of the recession, Brouinvest brewery retained its profits. Immediately after it, Aegean Airlines ranks 14th - the company served more than 1 million passengers for the first time in its history, due to the large increase in tourists to Greece.

The independent operator of electricity transmission occupies 15th place and Attiki Odos highway ranks 16th.

The 17th position is occupied by duty free shops, which have the exclusive right to sell duty free goods in Greece until 2048.

The water supply company of Athens and Piraeus, the only state enterprise that has paid all its debts to the Greek state, ranks 18th.

Tobacco company Karelia occupies the 19th place and Nea Odos that is engaged with the construction of Ionia Odos highway is at the bottom of the list of the top twenty most profitable companies in 2013.