Sweden’s top companies dominate various industries, from automotive to technology. These companies showcase Sweden’s economic prowess on a global scale. Let’s explore the top 10 biggest companies in Sweden by revenue in 2023.
1. Volvo Group
Industry: automotive
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $44670 Millions
Stock symbol: VOLVF
The Volvo Group is headquartered in Gothenburg, Sweden and was founded in 1927. It operates in more than 190 countries worldwide. The company’s main activities include the production and sale of trucks, buses, construction equipment, and marine and industrial engines. Volvo Group is known for its brands such as Volvo Trucks, Volvo Buses, Volvo Construction Equipment, and Volvo Penta.
2. Volvo Car
Industry: automotive
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $30990 Millions
Stock symbol: VOLCAR-B.ST
Volvo Car, headquartered in Gothenburg, Sweden, was founded in 1927. It operates in numerous countries worldwide, with a presence in over 100 countries. The company’s main activities revolve around designing, manufacturing, and distributing automobiles. Volvo Car offers a wide range of products and services, including sedans, SUVs, and electric vehicles. It is known for its commitment to safety and sustainability, with brands like Volvo XC90 and Volvo S60 gaining popularity globally.
3. Ericsson
Industry: technology
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $26060 Millions
Stock symbol: ERIC
Ericsson, founded in 1876, is headquartered in Stockholm, Sweden. It operates in more than 180 countries worldwide, making it a global leader in telecommunications and information technology. Ericsson’s main activities include providing network infrastructure, software, and services to telecom operators and other industries. The company offers a wide range of products and solutions, including mobile networks, cloud infrastructure, and IoT platforms. Ericsson is known for its innovative technologies and brands such as 5G, Ericsson Radio System, and Ericsson Cloud.
4. H&M
Industry: retail
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $22400 Millions
Stock symbol: HM-B.ST
H&M, headquartered in Stockholm, Sweden, was founded in 1947. It operates in over 74 countries worldwide. H&M is primarily engaged in the retail industry, offering a wide range of clothing and accessories for men, women, and children. The company also provides home decor products and beauty items. H&M is known for its affordable fashion and popular brands such as COS, Monki, and Weekday.
5. Skanska
Industry: construction
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $16380 Millions
Stock symbol: SKA-B.ST
Skanska, founded in 1887, is headquartered in Stockholm, Sweden. It operates in numerous countries, with a presence in over 10 countries worldwide. Skanska is primarily engaged in construction and development activities, offering a wide range of products and services in the construction industry. It is known for its expertise in building commercial properties, infrastructure projects, and residential developments.
6. Essity
Industry: consumer staples
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $14810 Millions
Stock symbol: ESWB.F
Essity is a multinational company with its headquarters in Stockholm, Sweden. It was founded in 2017. The company operates in around 150 countries worldwide. Essity is primarily engaged in the production and distribution of hygiene and health products. Their range of products includes tissue, personal care, and professional hygiene products. Some of their well-known brands include Tork, TENA, Libero, and Lotus.
7. Electrolux
Industry: consumer discretionary
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $13630 Millions
Stock symbol: ELUX-A.ST
Electrolux, founded in 1919, is headquartered in Stockholm, Sweden. It operates in more than 150 countries worldwide. The company specializes in the production and distribution of household appliances, including refrigerators, washing machines, vacuum cleaners, and kitchen appliances. Electrolux is known for its brands such as Electrolux, AEG, Frigidaire, and Zanussi.
8. Atlas Copco
Industry: industrial machinery
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $13180 Millions
Stock symbol: ATCO-B.ST
Atlas Copco is headquartered in Stockholm, Sweden and was founded in 1873. It operates in over 180 countries worldwide, making it a truly global company. The company specializes in providing industrial productivity solutions, including compressors, vacuum solutions, generators, and construction equipment. Some of its well-known brands include Atlas Copco, Epiroc, and Power Technique.
9. SSAB
Industry: steel
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $12740 Millions
Stock symbol: SSAB-B.ST
SSAB, founded in 1978, is headquartered in Stockholm, Sweden. It operates in multiple countries, with a presence in over 50 countries worldwide. The company is primarily engaged in the production and sale of high-strength steel and related products. SSAB offers a wide range of products and services, including hot-rolled and cold-rolled steel, tubes, and construction solutions. Some of its well-known brands include Hardox, Strenx, and Docol.
10. Spotify
Industry: technology
Revenue (2023: Q1; 2022: Q2, Q3, Q4): $11990 Millions
Stock symbol: SPOT
Spotify, founded in 2006, is headquartered in Stockholm, Sweden. It operates in over 90 countries worldwide, making it one of the largest music streaming platforms globally. Spotify offers a wide range of activities, including streaming music, podcasts, and audiobooks. With a vast library of songs and personalized playlists, it has become a go-to platform for music lovers. While not having any specific brands, Spotify has established itself as a leading player in the digital music industry.
More: The Economic System of Sweden: An Analysis
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