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This is a list of the largest companies from the Nordic countries, as determined by different factors. There are several ways of ranking companies, be it by revenue, income, market value or number of employees. Arguably, the most complete list, is the annual Forbes Global 2000 list, a ranking based on four metrics. Of note, IKEA Group, with $37.6 billion in annual revenue and $4.8 billion in annual profit, is not included on the Forbes Global 2000 list.

Largest Nordic companies according to Forbes

The Forbes Global 2000 published on 18 April 2012[1] is a ranking of largest companies in the world, by a mix of four metrics: sales, profits, assets and market value. The ranking number shows the ranking among all other Nordic companies on the list, while the number displayed within parenthesis shows the actual ranking among all the companies on the Forbes Global 2000 list.

The ranking is based on annual reports, as of April 2012. As a consequence, the data is most likely based on 2011 annual reports and market values are most likely those of April 2012 (unless otherwise noted). Furthermore, the ranking does not take privately or state-owned enterprises into account.

Rank Company Headquarters Industry Revenue
(billion $) 		Profits
(billion $) 		Assets
(billion $) 		Market value
(billion $)
01 (41) Equinor Norway Stavanger, Norway Oil and gas 111.6 13.1 127.8 81.4[2]
02 (135) Nordea Finland Helsinki, Finland Banking 21.7 3.4 933.8 39.7[3]
03 (152) A.P. Møller-Maersk Denmark Copenhagen, Denmark Transportation 56.1 2.6 69.8 33.7[4][5]
04 (183) Volvo Sweden Gothenburg, Sweden Automotive 45.0 2.6 49.7 30.2[6][7]
05 (239) Ericsson Sweden Stockholm, Sweden Telecommunication 32.9 1.8 19.0 19.4[8][9]
06 (260) DNB Norway Oslo, Norway Diversified financial 11.6 2.2 356.1 21.1[10]
07 (280) SEB Sweden Stockholm, Sweden Banking 13.5 1.6 344.5 19.2[11][12]
08 (282) Handelsbanken Sweden Stockholm, Sweden Banking 10.9 1.8 358.0 23.2[13][14]
09 (294) Telia Sweden Stockholm, Sweden Telecommunications 15.1 2.7 35.9 30.0[15]
10 (311) Swedbank Sweden Stockholm, Sweden Banking 10.3 1.7 270.8 19.1[16]
11 (353) Telenor Norway Fornebu, Norway Telecommunication 16.4 1.3 27.8 33.9[17]
12 (432) Fortum Finland Espoo, Finland Utilities 3.9 0.9 29.7 16.8[18]
13 (466) Novo Nordisk Denmark Copenhagen, Denmark Health care 11.6 3.0 10.9 90.3[19]
14 (489) H&M Sweden Stockholm, Sweden Retailing 16.3 2.3 8.7 61.6
15 (498) Danske Bank Denmark Copenhagen, Denmark Banking 20.0 0.3 597.8 15.8
16 (503) Sampo Group Finland Helsinki, Finland Insurance 7.2 1.3 38.3 16.3
17 (504) Norsk Hydro Norway Oslo, Norway Industrial 16.3 1.1 22.2 11.7
18 (528) Atlas Copco Sweden Stockholm, Sweden Capital goods 13.6 0.8 14.4 19.0
19 (563) Carlsberg Group Denmark Copenhagen, Denmark Brewery 11.1 0.9 25.6 12.8
20 (573) Nokia Finland Espoo, Finland Technology 50.1 -1.5 44.6 32.8
21 (574) Yara International Norway Oslo, Norway Chemical industry 13.0 2.0 12.1 13.3
22 (578) Sandvik Sweden Sandviken, Sweden Capital goods 13.6 0.8 14.4 19.0
23 (707) Skanska Sweden Stockholm, Sweden Construction 17.2 1.1 11.8 7.5
24 (765) UPM-Kymmene Finland Helsinki, Finland Materials 13.0 0.6 19.3 7.2
25 (845) SKF Sweden Gothenburg, Sweden Manufacturing 9.6 0.9 8.5 11.5
26 (902) Stora Enso Finland Helsinki, Finland Manufacturing 14.2 0.4 16.7 6.0
27 (904) Svenska Cellulosa Aktiebolaget Sweden Stockholm, Sweden Consumer Goods 11.8 0.1 20.2 12.5
28 (937) Kone Finland Espoo, Finland Engineering 9.5 1.2 8.4 14.9
29 (1098) Electrolux Sweden Stockholm, Sweden Manufacturing 14.7 0.3 10.7 6.8
30 (1101) Assa Abloy Sweden Stockholm, Sweden Manufacturing 6.1 0.6 8.1 11.2
32 (1131) Investor Sweden Stockholm, Sweden Diversified financials 2.8 -1.3 31.2 17.0
32 (1170) Tele2 Sweden Stockholm, Sweden Telecommunications 5.9 0.7 6.4 8.6
33 (1175) Metso Finland Helsinki, Finland Capital goods 8.6 0.5 8.4 7.3
34 (1226) Autoliv Sweden Stockholm, Sweden Automotive 8.2 0.6 6.1 6.2
35 (1254) Orkla Group Norway Oslo, Norway Media 10.2 -0.1 11.1 8.2
36 (1297) Kinnevik Sweden Stockholm, Sweden Investment 1.3 1.0 10.2 6.3
37 (1363) Storebrand Norway Oslo, Norway Insurance 5.6 0.1 67.2 2.4
38 (1373) TDC A/S Denmark Copenhagen, Denmark Telecommunications 4.6 0.5 11.4 6.0
39 (1376) OP-Pohjola Group Finland Helsinki, Finland Financial services 4.9 0.3 53.3 3.7
40 (1388) Aker Solutions Norway Oslo, Norway Engineering 6.1 0.9 5.6 4.5
41 (1416) Gjensidige Norway Oslo, Norway Insurance 3.6 0.5 14.7 5.9
42 (1481) L E Lundbergföretagen Sweden Stockholm, Sweden Investment 3.3 0.7 12.5 4.2
43 (1488) Alfa Laval Sweden Lund, Sweden Manufacturing 4.2 0.5 4.8 8.7
44 (1495) Neste Finland Espoo, Finland Oil refining 20.0 0.2 9.4 3.1
45 (1506) Wärtsilä Finland Helsinki, Finland Manufacturing 5.6 0.6 5.8 7.2
46 (1619) Boliden AB Sweden Stockholm, Sweden Mining 5.8 0.5 5.5 4.6
47 (1686) Jyske Bank Denmark Silkeborg, Denmark Banking 1.6 0.1 47.2 2.4
48 (1750) Swedish Match Sweden Stockholm, Sweden Tobacco 1.7 0.4 2.1 8.1
49 (1816) Hexagon AB Sweden Stockholm, Sweden Technology 2.8 0.4 6.8 7.0
50 (1868) Nokian Tyres Finland Nokia, Finland Manufacturing 1.9 0.4 2.4 6.4
51 (1883) Kesko Finland Helsinki, Finland Retail 12.3 0.2 5.4 3.2
52 (1889) Novozymes Denmark Copenhagen, Denmark Health care 1.8 0.3 2.4 7.9
53 (1929) Sydbank Denmark Aabenraa, Denmark Banking 1.0 0.0 26.8 1.4
54 (1935) Getinge Group Sweden Getinge, Sweden Medical technology 3.2 0.4 6.0 6.6
55 (1937) Coloplast Denmark Copenhagen, Denmark Medical equipment 1.8 0.3 1.6 7.3
56 (1948) Vestas Denmark Aarhus, Denmark Manufacturing 7.6 -0.2 9.6 2.3

Divided by country

To put a perspective on the differences between the number of companies in the Nordic nations, this list shows the annual number of companies from a given nation, that made the list. Note that Iceland is no longer represented, primarily because of the 2008–2012 Icelandic financial crisis in which several banks collapsed.

Country 2008-list 2009-list 2010-list 2011-list 2012-list
Sweden Sweden 20 22 27 22 25
Finland Finland 16 13 11 12 12
Norway Norway 14 9 10 10 9
Denmark Denmark 9 12 13 10 10
Iceland Iceland 4 0 0 0 0

Largest employers

This is a list of the largest employers in the Nordic nations, based on the most recent annual reports. Both private and public companies are represented on the list, though public employers are not. IKEA would rank 4 on this list with its 123,000 employees, had its official headquarters been in Sweden instead of in the Netherlands.[20]

Rank Company Headquarters Industry Employees Reference date
1 ISS Denmark Copenhagen, Denmark Facility Management 534,500 2011[21]
2 Securitas Sweden Stockholm, Sweden Security Services 335,945 2016[22]
3 Nokia Finland Espoo, Finland Technology 130,050 2011[23]
4 A.P. Møller-Maersk Denmark Copenhagen, Denmark Transportation 117,080 2011[24]
5 Ericsson Sweden Stockholm, Sweden Telecommunication 104,525 2011[25]
6 Volvo Sweden Gothenburg, Sweden Automotive 98,162 2011[26]
7 H&M Sweden Stockholm, Sweden Retailing 64,874 2011[27]
8 Electrolux Sweden Stockholm, Sweden Manufacturing 52,916 2011[28]
9 Skanska Sweden Stockholm, Sweden Construction 52,557 2011[29]
10 Sandvik Sweden Sandviken, Sweden Capital goods 50,030 2011[30]

References

  1. ^ "The World's Biggest Public Companies". Forbes. 2012-04-18. Retrieved 2013-01-03.
  2. ^ "Statoil Key Statistics". Yahoo Finance. 2012-04-18. Retrieved 2013-01-03.
  3. ^ "Nordea Bank AB Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  4. ^ "A.P. Møller- Mærsk A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  5. ^ "A.P. Møller- Mærsk B Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  6. ^ "Volvo AB ser A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  7. ^ "Volvo AB ser B Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  8. ^ "Ericsson Telefonab L M ser A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.[permanent dead link]
  9. ^ "Ericsson Telefonab L M ser B Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  10. ^ "DNB ASA Overview". Euroinvestor. 2012-04-18. Archived from the original on 2013-02-16. Retrieved 2013-01-03.
  11. ^ "Skandinaviska Enskilda Banken A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  12. ^ "Skandinaviska Enskilda Banken A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  13. ^ "Svenska Handelsbanken ser A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  14. ^ "Svenska Handelsbanken ser B Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  15. ^ "TeliaSonera AB Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  16. ^ "Swedbank AB ser A Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.[permanent dead link]
  17. ^ "Telenor Overview". Euroinvestor. 2012-04-18. Retrieved 2013-01-03.
  18. ^ "Fortum Annual Review 2015". Fortum. 2016. Archived from the original on 2016-04-22. Retrieved 2016-09-23.
  19. ^ "Novo Nordisk A/S Key Statistics". Yahoo Finance. 2012-04-18. Retrieved 2013-01-03.
  20. ^ "IKEA Fact & Figures". IKEA. 2012-04-18. Retrieved 2013-01-03.
  21. ^ "ISS Annual Report 2011 (Page 2)". ISS A/S. 2012-04-18. Retrieved 2013-01-03.
  22. ^ "Securitas Annual Report 2011 (Page 102)" (PDF). Securitas AB. 2012-04-18. Archived from the original (PDF) on 2012-05-15. Retrieved 2013-01-03.
  23. ^ "Nokia Form 20-A 2011 (Page 48)" (PDF). Nokiaj. 2012-04-18. Archived from the original (PDF) on 2013-06-02. Retrieved 2013-01-03.
  24. ^ "A.P. Moller-Maersk Group Annual Report 2011 (Page 85)" (PDF). A.P. Moller-Maersk Group. 2012-04-18. Retrieved 2013-01-03.
  25. ^ "Ericsson Annual Report" (PDF). Ericsson. 2012-04-18. Retrieved 2013-01-03.
  26. ^ "Volvo Annual Report 2011 (Page 48)" (PDF). Volvo. 2012-04-18. Archived from the original (PDF) on 2012-12-09. Retrieved 2013-01-03.
  27. ^ "H&M Annual Report 2011" (PDF). H&M. 2012-04-18. Retrieved 2013-01-03.
  28. ^ "Electrolux Annual Report 2011" (PDF). Electrolux. 2012-04-18. Retrieved 2013-01-03.
  29. ^ "Skanska Annual Report 2011" (PDF). Skanska. 2012-04-18. Retrieved 2013-01-03.
  30. ^ "Sandvik Annual Report 2011 (Page 3)" (PDF). Sandvik. 2012-04-18. Archived from the original (PDF) on 2012-09-14. Retrieved 2013-01-03.
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