The 20 largest European companies in the Global 500 and their revenues in 2022

Recovery sounds great no matter what language you speak. And on this year’s Global 500, companies based in Europe posted a strong year in terms of revenue and profit.

Energy companies raked in cash as oil prices soared on renewed business and travel, and some took advantage of shortages resulting from Russia’s invasion of Ukraine in February 2022 Automakers have increased their production of electric vehicles as they aim to overtake the title producer of electric vehicles, the American company Tesla. After a difficult period during the pandemic, insurance companies Allianz and AXA also recorded impressive financial performances.

Two of the five most profitable European companies on this year’s list are energy-focused. Oil giant Shell recorded the biggest revenue among European energy companies in 2021: $272.7 billion, up almost 50% from the previous year. The company also implemented structural changes, including moving its headquarters from the Netherlands to Britain and reorganizing its tax apparatus. Other major energy producers that have seen substantial revenue growth include French company TotalEnergies, Swiss mining company Glencore and British oil giant BP.

In February 2022, Russia’s invasion of Ukraine worsened an already drastic energy shortage – and oil companies saw their profits soar even further. Yet some companies also suffered huge losses by exiting the Russian market in protest against the war. Russian oil titans Lukoil and Gazprom suffered the impact of global sanctions after the invasion. This year’s Global 500 list does not reflect this impact, as it is based primarily on 2021 financial results.

One question remains open: how the world’s energy companies will manage to move away from fossil fuels to meet the climate goals that many have set themselves to stay compliant with the Paris climate accord.

The largest European companies in the Global 500

European automakers ranked near the top of this year’s Global 500 list, with Volkswagen earning the most revenue among European companies – $296 billion. Automakers were two of Europe’s 10 most profitable companies.

The industry has made profits despite a global shortage of semiconductors caused by pandemic supply chain slowdowns. Mercedes-Benz, Europe’s seventh-largest company by revenue, has focused on more profitable models like its G-Class off-roader and S-Class sedan, even as overall sales growth slowed.

Here are the top 20 European companies by revenue on the Global 500:

1.Volkswagen

Rank: 8
Revenue: $295.8 billion
Change in turnover since the previous year: 16.5%
Profit: $18.2 billion
Industry: Motor vehicles and parts
Country/Territory: Germany

2. Shell

Rank: 15
Revenue: $272.7 billion
Change in turnover since the previous year: 48.8%
Profit: $20.1 billion
Industry: Petroleum refinement
Country/Territory: Britain

3. glencore

Rank: 23
Revenue: $203.8 billion
Change in turnover since the previous year: 43.1%
Profit: $5 billion
Industry: Mining, crude oil production
Country/Territory: Swiss

4. TotalEnergies

Rank: 27
Revenue: $184.6 billion
Change in turnover since the previous year: 54.2%
Profit: $16 billion
Industry: Petroleum refinement
Country/Territory: France

5. Stellantide

Rank: 29
Revenue: $176.7 billion
Change in turnover since the previous year: 225%
Profit: $16.8 billion
Industry: Motor vehicles and parts
Country/Territory: Netherlands

6. BP

Rank: 35
Revenue: $164.2 billion
Change in turnover since the previous year: –10.5%
Profit: $7 billion
Industry: Petroleum refinement
Country/Territory: Britain

seven. Mercedes-Benz Group

Rank: 38
Revenue: $158.3 billion
Change in turnover since the previous year: -ten%
Profit: $27.2 billion
Industry: Motor vehicles and parts
Country/Territory: Germany

8. Allianz

Rank: 47
Revenue: $144.5 billion
Change in turnover since the previous year: 6.1%
Profit: $7.8 billion
Industry: Insurance: Life, Health
Country/Territory: Germany

9. AXA

Rank: 48
Revenue: $144.4 billion
Change in turnover since the previous year: 12.8%
Profit: $8.6 billion
Industry: Insurance: Life, Health
Country/Territory: France

ten. Gazprom

Rank: 52
Revenue: $137.7 billion
Change in turnover since the previous year: 56.7%
Profit: $28.4 billion
Industry: Energy
Country/Territory: Russia

11. fortune

Rank: 56
Revenue: $132.9 billion
Change in turnover since the previous year: 137.9%
Profit: $873.7 million
Industry: Energy
Country/Territory: Finland

12. BMW

Rank: 59
Revenue: $131.5 billion
Change in turnover since the previous year: 16.6%
Profit: $14.6 billion
Industry: Motor vehicles and parts
Country/Territory: Germany

13. Deutsche Telekom

Rank: 62
Revenue: $128.6 billion
Change in turnover since the previous year: 11.8%
Profit: $4.9 billion
Industry: Telecommunications
Country/Territory: Germany

14. Lukoil

Rank: 67
Revenue: $125.1 billion
Change in turnover since the previous year: 74.1%
Profit: $10.5 billion
Industry: Petroleum refinement
Country/Territory: Russia

15. Assicurazioni Generali

Rank: 72
Revenue: $117.2 billion
Change in turnover since the previous year: 20.6%
Profit: $3.4 billion
Industry: Insurance: Life, Health
Country/Territory: Italy

16. Agricultural credit

Rank: 84
Revenue: $107.7 billion
Change in turnover since the previous year: 29.8%
Profit: $6.9 billion
Industry: Banks: commercial and savings
Country/Territory: France

17. Enel

Rank: 90
Revenue: $104.1 billion
Change in turnover since the previous year: 40.5%
Profit: $3.8 billion
Industry: Utilities
Country/Territory: Italy

18. French Electricity

Rank: 95
Revenue: $99.9 billion
Change in turnover since the previous year: 26.6%
Profit: $6 billion
Industry: Utilities
Country/Territory: France

19. Deutsche Post DHL Group

Rank: 99
Revenue: $96.7 billion
Change in turnover since the previous year: 27%
Profit: $6 billion
Industry: Delivery of mail, parcels and freight
Country/Territory: Germany

20. Nestle

Rank: 103
Revenue: $95.3 billion
Change in turnover since the previous year: 6.1%
Profit: $18.5 billion
Industry: Consumer food products
Country/Territory: Swiss

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