Volkswagen at No. 1 leads Top Ten dominated
by car makers, energy
Germany
leads country count; Financials leads all sectors on the 2024
ranking with 100 companies
Fortune 500 Europe list launched in
conjunction with Fortune CEO Forum 2024 in London, convening 40 CEOs for invitation-only
event
LONDON, Oct. 23,
2024 /PRNewswire/ -- Today, Fortune unveiled the
Fortune 500 Europe, the world's most authoritative ranking of
Europe's largest companies by
revenue. Volkswagen claimed the top spot on the Fortune 500 Europe
list, with $348 billion in revenue,
up 19%, and taking over from Shell, whose revenues fell 16%. While
Germany had the largest total of
companies from a single country, the Fortune 500 Europe includes
companies from 24 different countries in the region.
More than half of all 500 companies come from just 4 countries:
Germany (79), UK (77), France (67)
and Switzerland (36). But the
Franco-German axis is creaking. The region's most profitable
companies are now in Belgium,
Switzerland, Norway, and Ireland. In southern Europe, Spain's and Italy's companies are marginally more
profitable than the region overall.
The Fortune 500 Europe Top 10
List:
- Volkswagen (Germany)
- Shell (UK)
- TotalEnergies (France)
- Glencore (Switzerland)
- BP (UK)
- Stellantis (Netherlands)
- BMW Group (Germany)
- Mercedes-Benz Group (Germany)
- Electricité de France
(France)
- Banco Santander (Spain)
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Grethe Schepers, Lists Director,
Europe said, "The 2024 Fortune 500
Europe list highlights the good and the bad, illustrating pressures
on innovation and competitiveness. Profits are up 7.6% but when it
comes to diversity, women's leadership is shrinking—female CEOs now
lead just 6.2% of companies, down from 7% last year. The technology
sector pales in comparison to the US, accounting for just 2% of all
list revenue with profits and employment shrinking. Financials,
however, staged a remarkable cyclical comeback boosted by higher
interest rates."
Alex Wood Morton, Executive
Editor, Europe added, "Europe
is at a crossroads. This year's list has echoes of the Fortune 500
in America 20 years ago, when it was dominated by oil and gas and
car makers. The challenge for European companies is innovation at
scale–those that can adapt and embrace new technologies will gain
the edge in an increasingly competitive global economy."
This year's Fortune 500 Europe list is being launched in
conjunction with the Fortune CEO Forum 2024 in London (today), which will convene 40 CEOs for
an exclusive and invitation-only event to discuss and dissect the
business-critical themes at the top of every CEO's agenda. The
day's session will address mastering AI responsibly, raising
European competitiveness, the transition to green energy, and how
to thrive in an ever-changing world for consumers and workers.
For the Fortune 500 Europe list, companies are ranked by
total revenues for their latest available respective fiscal years.
All companies on the list must publish financial data and report
part or all of their figures to a government agency. The latest
figures in the list are as reported by the companies; any
comparisons are with the prior year's figures as originally
reported. Fortune does not restate the prior year's figures for
changes in accounting.
About Fortune:
Fortune is a global multi-platform media company built on a legacy
of trusted, award-winning reporting and information for those who
want to make business better. Independently owned, Fortune tells
the stories of the world's biggest companies and their leaders as
well as a new generation of innovators who are moving business
forward. Digitally and in print, Fortune measures corporate
performance through rigorous benchmarks, and holds companies
accountable, in regions around the world. Its iconic rankings
include Fortune 500, Fortune Global 500, Most Powerful Women, and
World's Most Admired Companies. Fortune builds world-class
communities by convening industry thought leaders for exclusive
summits and conferences, including the Fortune Global
Forum and Brainstorm Tech. For more information, visit
fortune.com.
Media Contacts:
Patrick
Reilly
Fortune
Patrick.Reilly@fortune.com
Aslesha Mehta
Fortune
aslesha.mehta@fortune.com
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