Sweden is a well-developed export-oriented economy focusing on timber, hydropower and iron ore. Its main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, appliances, forestry, iron and steel.
As a country dependent on international trade, the global financial crisis and Eurozone crisis had their toll on the economy. While it has successfully rebounded in 2016 to 2018, economic growth has encountered the slowdown barrier of 2019. Exports have not reached quite the desirable marks, lower wage rates have increased and consumer confidence has affected private consumption. Additionally, unemployment has risen to 6.8% from 6.3% as recorded a year earlier.
Despite the hardships of 2019 and 2020, Sweden is expected to recover its full magnificence, various estimates stating the earliest being 2021. In our anticipation to witness a resumption to desired levels, we at Global Database have compiled the list of top 25 companies in Sweden by sales to give you an overview of how businesses have fared.
1.Taktiebolaget Volvo - $ 43.3B
Aktiebolaget Volvo (further AB Volvo) takes the spotlight of our top 25 Companies in Sweden by Sales in 2019 amassing an incredible $ 43.3B feat. It was founded in 1927, but the name was registered back in 1911 to be used for a series of SKF ball bearings. Volvo is headquartered in Gothenburg and now is primarily involved in producing, distributing and selling trucks, buses and construction equipment. On the side, the company also provides marine and industrial drive systems and financial services.
2.Hennes & Mauritz AB - $ 24.8B
Hennes & Mauritz AB (further H&M) ranks second in our top 25 Companies in Sweden by Sales in 2019, reporting $ 24.8B for that year. It was founded in 1947 by Erling Persson in 1947 - a shop that sold exclusively women's clothing. H&M is headquartered in Stockholm and deals in clothing for all sexes and ages. Today, it operates a network of over 5,000 stores in almost 74 countries under the guidance of several brands. Under H & M's commitment to never stop nor settle and value diversity in people and ideas, the company's over 126 thousand employees constantly improve in everything they do.
3.Telefonaktiebolaget LM Ericsson - $ 23.8B
Telefonaktiebolaget LM Ericsson (further Ericsson) has closed the financial year of 2019 on a successful sales tier of $ 23.8B. It was founded by Lars Magnus Ericsson in 1876, starting out as a telegraph repair shop. Today, Ericsson is headquartered in Stockholm and primarily deals in networking and telecommunications. Therefore, among the company's products portfolio, you will find services, software and infrastructure that maintain mobile and broadband networks, TV and multimedia with a side of operations and business support services.
4.Skanska AB - $ 18.4B
Skanska AB (further Skanska) reported $ 18.4B in sales at the end of 2019. It was founded by Rudolf Fredrik Berg in 1887 and was initially a concrete products manufacturer that swiftly diversified into a wider range and a bigger scale. Skanska is headquartered in Stockholm and is chiefly a construction company and hires about 34 thousand employees. As such, its services include residential, commercial, and infrastructure development. The company has participated in a variety of eminent renovating projects.
5.Essity AB - $ 13.8B
Essity AB (further Essity) has achieved $ 13.8B in sales for the year 2019, raking 5th in our list of the largest companies by sales in Sweden. It used to be part of the SCA group, which was founded in 1929; however, the split off from SCA group in 2017 can be considered Essity's establishment. Essity is headquartered in Stockholm and is involved in the development, production and marketing of personal care products. You can find products such as tissue paper, baby diapers, feminine care among others.
6.Electrolux AB - $ 13.3B
Electrolux AB (further Electrolux) reported $ 13.3B in sales at the end of 2019. It was founded in 1919 by the merger of Lux AB and Svenska Elektron AB, the latter being the property of a former vacuum salesman. Electrolux is headquartered in Stockholm and while its origins are closely tied with vacuums, nowadays it has diversified to a wide range of appliances for consumer and professional use. Moreover, Electrolux sells its products under many brands on a global scale and hires almost 49 thousand people.
7.ICA Gruppen AB (publ) - $ 12.7B
ICA Gruppen AB (publ) (further ICA) deals amounted to $ 12.7B in sales during 2019. It was founded in 1917 and participated in a joint operation with Statoil till the mid-90s. ICA is headquartered in Stockholm and is mostly involved as a retailer of food and health products. Additionally, the ICA group diversified itself into other industries through various business segments - banking, real estate and pharmacy chain. The retailing side operates approximately 1,400 stores with different formats (convenience, supermarkets, superstores, hypermarkets) depending on location, size and variety of products on tap.
8.Securitas AB - $ 11.7B
Securitas AB (further Securitas)'s customer purchases amounted to $ 11.7B getting the company the 8th spot in our top companies in Sweden by sales in 2019. Securitas was founded in 1934 by Erik Philip-Sörensen under a different name and was to be a small guarding company. Securitas is now headquartered in Stockholm and chiefly deals in security services. Therefore, what they provide is guarding, patrolling, monitoring, consulting and investigating. Respective of the continents, Securitas operates three business segments: North America, Europe and Ibero-America.
9.Atlas Copco AB - $ 10.9B
Atlas Copco AB (further Copco from Compagnie Pneumatique Commerciale) reported $ 10.9B in sales at the end of 2019. It was founded in 1873 by Edvard Fränckel and manufactured, purchased and sold all kinds of materials required for railway construction, maintenance and operation. Copco now is headquartered in Nacka and manufactures industrial tools and equipment with the help of its almost 38 thousand employees. Compressors, vacuum solutions, generators, construction, industrial tools and assembly systems are among the products it provides.
10.Sandvik AB - $ 10.6B
Sandvik AB (further Sandvik)'s accomplishment of $ 10.6B in sales puts it in the number 10 spot on our top 25 companies in Sweden by sales ins 2019. Sandvik was founded in 1962 by Göran Fredrik Göransson, the first in the world to produce high-quality steel on an industrial scale. The company is headquartered in Stockholm and engages in equipment and tooling systems for the mining and construction industries. As a multinational engineering company, Sandvik provided with jobs over 40 thousand people in 2019.
11.Assa Abloy AB - $ 9.9B
Assa Abloy AB (further Assa) counted $ 9.9B in sales at the end of 2019. It was founded in 1994 by the merger of Assa and Ably propulsing it from a mere regional company to a well-established global group in under 30 years. Assa is headquartered in Stockholm and differentiates itself as a conglomerate engaging in intelligent lock and security solutions - locks, automatic and security doors. Assa has managed an increase in its operating income of 7,000% since its formation.
12.Telia Company AB - $ 9.2B
Telia Company AB (further Telia) reported $ 9.2B in sales at the end of 2019. It was founded in 2003 by the merger of Telia and Sonera; however, its origins go back to the 1853 Kungl. The Telegraph Agency (Royal Telegraph Agency). Telia is headquartered in Stockholm and chiefly deals in telecommunications and mobile networking. The company has established a strong presence in Northern Europe and also runs an international IP backbone network.
13.AB SKF - $ 8.9B
AB SKF (further SKF) reached the mark of $ 8.9B in sales in 2019. It was founded in 1907 by Sven Wingqvist guided by the purpose of finding a better solution for the performance of ball bearings. SKF is headquartered in Gothenburg and is mainly invested in bearing and seal manufacturing as well as various products that would aid in more complex systems: lubrication, maintenance, power transmission products, monitoring. With an imposing 108 manufacturing units, over 43 thousand employees and distribution network in 130 countries, SKF holds the title of one of the world's largest bearing manufacturers.
14.Investor AB - $ 7.3B
Investor AB (further Investor) managed $ 7.3B in sales during 2019. It was founded by the renowned Wallenberg family in 1916 as an investment part of Stockholms Enskilda Bank due to newly issued legislation that made it more difficult for banks to own stocks in industrial companies . Investor is headquartered in Stockholm and considered a de facto conglomerate holding company. The company's investment portfolio can be mainly divided into three segments: Listed Companies, Patricia Industries and other primary financial investments. Investor is still controlled by the Wallenberg family through their FAM (Foundation Asset Management) company.
15.Svenska Handelsbanken AB - $ 7.2B
Svenska Handelsbanken AB (further Handelsbanken)'s accomplishment of $ 7.2B in sales during 2019 allows the company to take the 15th spot on our top largest companies in Sweden by sales. Handeslbanken was founded in 1871 by several large corporations and leading residents. The company is headquartered in Stockholm and is primarily invested in providing universal banking services, investment banking, and life insurance. Handelsbanken is considered a major bank having over 460 branches under its name and hires about 12.5 thousand employees.
16.Skandinaviska Enskilda Banken AB - $ 7.2B
Skandinaviska Enskilda Banken AB (further SEB)'s transactions during 2019 have resulted in $ 7.2B in sales, as reported by the bank. The financial institution as we know it today started its story in 1972. However, its origins can be traced back to the establishment in 1856 by André Oscar Wallenberg and the merger with Skandinaviska Banken. SEB is now headquartered in Stockholm and engages in provision of corporate, retail, investment and private banking services. Additionally, it offers asset management and life insurance services. SEB is yet another property managed by the Swedish Wallenberg family and is controlled through Investor AB.
17.Swedbank - $ 6.2B
Swedbank AB (further Swedbank) achieved $ 6.2B in sales during 2019. It was founded in 1820, being the first savings bank in Sweden. Swedbank is headquartered in Stockholm and is chiefly involved in the provision of financial products and services - retail banking, asset and financial management among others. Just during the prosperous year of 2019, Swedbank had over 900,000 private and 130,000 corporate clients.
18.Alfa Laval AB - $ 4.9B
Alfa Laval AB (further Alfa) reported $ 4.9B in sales at the end of 2019. It was founded in 1883 as AB Separator by Gustaf de Laval and Oscar Lamm. Alfa is headquartered in Lund and deals in the production of specialized products and solutions for heavy industry. The products see usage in separation and transportation of various environmentally sensitive products. Alfa is present on the international scale with subsidiaries over 35 around the world, hiring over 17 thousand employees.
19.Hexagon AB - $ 4.3B
Hexagon AB (further Hexagon)'s deals amounted to $ 4.3B in sales as of 2019. Founded in 1992, Hexagon is now headquartered in Stockholm and is invested in manufacturing, marketing and distribution of sensors, software and autonomous solutions. Hexagon is divided into three business areas: Geospatial Measuring (Surveying and GPS), Industrial Metrology and Technologies. The company's products and services are sold under more than 35 different brands and are present in over 50 countries.
20.Epiroc AB - $ 4.2B
Epiroc AB (further Epiroc) takes the twentieth place in our top 25 companies in Sweden by sales, having totalled $ 4.2B by the close of 2019. It was founded in 1873 as a split from Atlas Copco's business of mining equipment. Being the workplace for over 14 thousand people, Epiroc is now headquartered in Stockholm and engages in the production of mining and infrastructure equipment - drill rigs, rock excavation. Officially, Epiroc, as we know it today, was created in 2018 and operates 5 distinct divisions of mining engineering applications: Surface, Underground, Tools & Attachments, Parts & Services, Technology & Digital.
21.LE Lundbergföretagen AB - $ 2.7B
LE Lundbergföretagen AB (further Lundbergs) achieved $ 2.7B in sales during 2019. It was founded in 1944 by Lars Erik Lundberg as a construction company focused on residential building. Lundbergs is headquartered in Stockholm and is chiefly operating in the management and development of other companies. The business operates three segments: Lundenbergs Real Estate Operations, Lundbergs Equity Management, Hufvudstaden and Holmen. Following 60 years from its inception, Lundbergs had gradually transitioned from a construction company to an investment one.
22.Lundin Energy AB - $ 2.2B
Lundin Energy Ab (further Lundin) obtained a feat of $ 2.2B in sales during 2019, astonishingly obtained by just a bit more than four hundred employees. It is also a relatively young company having been founded in 2001 but does go further back to the early 80s. Lundin is headquartered in Stockholm and is primarily invested in the oil and gas industry - exploration and production. Additionally, Lundin is involved in production of alternative energy sources.
23.Svenska Cellulosa AB - $ 2B
Svenska Cellulosa AB (further SCA) reported $ 2B in sales at the end of 2019. It was founded in 1929 by Ivar Kreuger with the initial purpose of being a holding company for industry companies. SCA is headquartered in Sundsvall and engages in forestry products - timber, pulp and paper. Moreover, SCA is Europe's largest private owner of forest land, having 2.6 million hectares to its name.
24.Holmen AB - $ 1.8B
Holmen AB (further Holmen)'s deals amounted to $ 1.8B in sales in 2019. It was founded in 1875 by Carl Kempe under the name of Mo och Domsjö AB (MoDo). Holmen is headquartered in Stockholm and primarily engaged in the forest industry - manufacture of paperboard, paper and wood, sawn timber. In addition to forest products, Holmen operates Renewable Energy and Group-wide business segments and is a workplace for about 3 thousand people.
25.Swedish Match - $ 1.6B
Swedish Match AB (further Match) is the last but not the least on our top 25 Companies in Sweden by sales in 2019 having managed a considerable feat of $ 1.6B. It was founded in 1992, but its origins go back to a tobacco and match manufacturer company founded in 1915 and 1917 respectively. Swedish Match is headquartered in Stockholm and is primarily invested in tobacco - snus, moist snuff, chewing tobacco, cigars - and lighters - matches, lighters.
