Mercedes Benz makes a stunning entry into the first-ever ranking of European companies by sales: the Fortune 500 Europe. While energy and oil companies dominate the ranking, luxury brands are not to be outdone.
Europe is now entitled to its own annual ranking of the most powerful companies. Since 1955, Fortune magazine has offered an exclusive ranking of US-based companies, and since 1989 an international ranking.
This Fortune 500 Europe covers 24 countries, including Russia and Turkey. The dollar unit of measurement of other editions also applies here.
Companies range in size from number 500 with sales of $5.6 billion to number 1 at $386.2 billion, achieved respectively by Germany’s MTU Aero Engines and London-based oil and gas company Shell.
Together, these 500 top-performing European companies achieved sales of $13.9 trillion (€13.02 billion) in their last fiscal year, equivalent to 3.5 times Germany’s GDP.
By way of comparison, the total revenue of the 500 US companies in the ranking is $18.1 trillion, and $41 trillion worldwide.
Unlike the US ranking, where GAFAM-type tech companies dominate, in Europe it’s energy-related companies – 84 in all – that dominate the ranking. 30 are linked to construction and public works, 27 to food and beverages and 24 to retail. Fashion, meanwhile, accounted for 9 companies.
Germany and France account for 151 companies, representing 30% to 40% of the 13.9 trillion in revenues generated by the Fortune 500 Europe 2023.
Britain’s Shell takes the gold medal, with sales of $386.2 billion. Germany’s Volkswagen and Uniper took silver and bronze respectively. France’s TotalEnergies climbed to 4th place, while Switzerland’s Glencore closed the Top 5. BP, Stellantis and Gazprom follow. Electricité de France closes the Top 10.
An oddity in the top 10, German carmaker Mercedes-Benz appears in 9th place with $157.782 billion in revenues, the highest ranking for a company in the luxury and premium category.
However, the brand with the three-pointed star is not the only one to stand out in this ranking.
BMW Group ($149.991 billion) ranks 12th. Christian Dior SE, the holding company that controls the luxury goods group LVMH, climbed to 31st place at $83.283 billion.
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Featured Photo: Jesper Brouwers/Unsplash
