List of largest Nordic companies

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 the most recent available 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 Stavanger, Norway Oil and gas 111.6 13.1 127.8 81.4[2]
02 (135) Nordea Helsinki, Finland Banking 21.7 3.4 933.8 39.7[3]
03 (152) A.P. Møller-Maersk Copenhagen, Denmark Transportation 56.1 2.6 69.8 33.7[4][5]
04 (183) Volvo Gothenburg, Sweden Automotive 45.0 2.6 49.7 30.2[6][7]
05 (239) Ericsson Stockholm, Sweden Telecommunication 32.9 1.8 19.0 19.4[8][9]
06 (260) DNB Oslo, Norway Diversified financial 11.6 2.2 356.1 21.1[10]
07 (280) SEB Stockholm, Sweden Banking 13.5 1.6 344.5 19.2[11][12]
08 (282) Handelsbanken Stockholm, Sweden Banking 10.9 1.8 358.0 23.2[13][14]
09 (294) Telia Stockholm, Sweden Telecommunications 15.1 2.7 35.9 30.0[15]
10 (311) Swedbank Stockholm, Sweden Banking 10.3 1.7 270.8 19.1[16]
11 (353) Telenor Fornebu, Norway Telecommunication 16.4 1.3 27.8 33.9[17]
12 (432) Fortum Espoo, Finland Utilities 3.9 0.9 29.7 16.8[18]
13 (466) Novo Nordisk Copenhagen, Denmark Health care 11.6 3.0 10.9 90.3[19]
14 (489) H&M Stockholm, Sweden Retailing 16.3 2.3 8.7 61.6
15 (498) Danske Bank Copenhagen, Denmark Banking 20.0 0.3 597.8 15.8
16 (503) Sampo Group Helsinki, Finland Insurance 7.2 1.3 38.3 16.3
17 (504) Norsk Hydro Oslo, Norway Industrial 16.3 1.1 22.2 11.7
18 (528) Atlas Copco Stockholm, Sweden Capital goods 13.6 0.8 14.4 19.0
19 (563) Carlsberg Group Copenhagen, Denmark Brewery 11.1 0.9 25.6 12.8
20 (573) Nokia Espoo, Finland Technology 50.1 -1.5 44.6 32.8
21 (574) Yara International Oslo, Norway Chemical industry 13.0 2.0 12.1 13.3
22 (578) Sandvik Sandviken, Sweden Capital goods 13.6 0.8 14.4 19.0
23 (707) Skanska Stockholm, Sweden Construction 17.2 1.1 11.8 7.5
24 (765) UPM-Kymmene Helsinki, Finland Materials 13.0 0.6 19.3 7.2
25 (845) SKF Gothenburg, Sweden Manufacturing 9.6 0.9 8.5 11.5
26 (902) Stora Enso Helsinki, Finland Manufacturing 14.2 0.4 16.7 6.0
27 (904) Svenska Cellulosa Aktiebolaget Stockholm, Sweden Consumer Goods 11.8 0.1 20.2 12.5
28 (937) Kone Espoo, Finland Engineering 9.5 1.2 8.4 14.9
29 (1098) Electrolux Stockholm, Sweden Manufacturing 14.7 0.3 10.7 6.8
30 (1101) Assa Abloy Stockholm, Sweden Manufacturing 6.1 0.6 8.1 11.2
32 (1131) Investor Stockholm, Sweden Diversified financials 2.8 -1.3 31.2 17.0
32 (1170) Tele2 Stockholm, Sweden Telecommunications 5.9 0.7 6.4 8.6
33 (1175) Metso Helsinki, Finland Capital goods 8.6 0.5 8.4 7.3
34 (1226) Autoliv Stockholm, Sweden Automotive 8.2 0.6 6.1 6.2
35 (1254) Orkla Group Oslo, Norway Media 10.2 -0.1 11.1 8.2
36 (1297) Kinnevik Stockholm, Sweden Investment 1.3 1.0 10.2 6.3
37 (1363) Storebrand Oslo, Norway Insurance 5.6 0.1 67.2 2.4
38 (1373) TDC A/S Copenhagen, Denmark Telecommunications 4.6 0.5 11.4 6.0
39 (1376) OP-Pohjola Group Helsinki, Finland Financial Services 4.9 0.3 53.3 3.7
40 (1388) Aker Solutions Oslo, Norway Engineering 6.1 0.9 5.6 4.5
41 (1416) Gjensidige Oslo, Norway Insurance 3.6 0.5 14.7 5.9
42 (1481) L E Lundbergföretagen Stockholm, Sweden Investment 3.3 0.7 12.5 4.2
43 (1488) Alfa Laval Lund, Sweden Manufacturing 4.2 0.5 4.8 8.7
44 (1495) Neste Espoo, Finland Oil Refining 20.0 0.2 9.4 3.1
45 (1506) Wärtsilä Helsinki, Finland Manufacturing 5.6 0.6 5.8 7.2
46 (1619) Boliden AB Stockholm, Sweden Mining 5.8 0.5 5.5 4.6
47 (1686) Jyske Bank Silkeborg, Denmark Banking 1.6 0.1 47.2 2.4
48 (1750) Swedish Match Stockholm, Sweden Tobacco 1.7 0.4 2.1 8.1
49 (1816) Hexagon AB Stockholm, Sweden Technology 2.8 0.4 6.8 7.0
50 (1868) Nokian Tyres Nokia, Finland Manufacturing 1.9 0.4 2.4 6.4
51 (1883) Kesko Helsinki, Finland Retail 12.3 0.2 5.4 3.2
52 (1889) Novozymes Copenhagen, Denmark Health Care 1.8 0.3 2.4 7.9
53 (1929) Sydbank Aabenraa, Denmark Banking 1.0 0.0 26.8 1.4
54 (1935) Getinge Group Getinge, Sweden Medical Technology 3.2 0.4 6.0 6.6
55 (1937) Coloplast Copenhagen, Denmark Medical Equipment 1.8 0.3 1.6 7.3
56 (1948) Vestas 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 20 22 27 22 25
Finland 16 13 11 12 12
Norway 14 9 10 10 9
Denmark 9 12 13 10 10
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 Copenhagen, Denmark Facility Management 534,500 2011[21]
2 Securitas Stockholm, Sweden Security Services 335,945 2016[22]
3 Nokia Espoo, Finland Technology 130,050 2011[23]
4 A.P. Møller-Maersk Copenhagen, Denmark Transportation 117,080 2011[24]
5 Ericsson Stockholm, Sweden Telecommunication 104,525 2011[25]
6 Volvo Gothenburg, Sweden Automotive 98,162 2011[26]
7 H&M Stockholm, Sweden Retailing 64,874 2011[27]
8 Electrolux Stockholm, Sweden Manufacturing 52,916 2011[28]
9 Skanska Stockholm, Sweden Construction 52,557 2011[29]
10 Sandvik 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.
  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.
  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). Nokia Oyj. 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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