Europe’s largest companies span a wide range of industries—from automotive and energy to finance, retail, and technology. In 2023, these corporations demonstrated strong financial performance, driving growth and innovation across the continent.
This list highlights the top 40 European companies ranked by revenue, with a brief overview of each business and its role in the regional and global economy.
1.Volkswagen
Volkswagen is a leading global automotive manufacturer based in Germany, known for producing cars under various brand names including VW, Audi, Porsche, and Skoda. It has a strong presence in both the consumer and commercial vehicle sectors.Volkswagen Group posted revenue of €348.408 billion in 2023, marking an 18.6 percent increase from its €294.199 billion in 2022, driven by strong global demand and higher ASPs across its core VW, Audi, and Porsche brands
Revenue: €348.408 billion
2.Shell
Headquartered in the UK, Shell is one of the largest oil and gas companies in the world. It operates across the entire energy value chain, from exploration and production to refining, distribution, and renewable energy ventures. Shell’s revenue rose to €323.183 billion in 2023, up from US $316 billion the prior year, reversing several years of broader market headwinds in oil prices
Revenue: €323.183 billion
3.TotalEnergies
TotalEnergies is a French multinational energy company active in oil, gas, and increasingly in renewables and electricity. It emphasizes sustainable practices and is diversifying into low-carbon energy sources.TotalEnergies saw its 2023 turnover of €218.945 billion decline by 16.8 percent from $263.31 billion in 2022, as softer crude and refining margins weighed on its diversified oil, gas, and low-carbon businesses
Revenue: €218.945 billion
4.Glencore
Glencore, based in Switzerland, is a diversified conglomerate primarily involved in mining, commodity trading, and energy. It is one of the world’s largest globally integrated natural resource companies.Glencore posted revenues of €217.829 billion in 2023, down 14.9 percent from $255.984 billion in 2022 amid normalization of commodity trading flows and lower coal and oil prices
Revenue: €217.829 billion
5.BP
British Petroleum (BP) is a major UK-based oil and gas company involved in exploration, refining, and distribution. It is also investing in renewable energy and aims for net zero emissions by 2050. BP recorded revenue of €213.032 billion in 2023, modestly lower than the previous year, as refining and marketing margins remained under pressure despite higher production volumes
Revenue: €213.032 billion
6.Stellantis
Stellantis is a multinational automotive group headquartered in the Netherlands, formed through the merger of Fiat Chrysler and PSA Group. It owns brands like Jeep, Peugeot, Citroën, and Fiat. Stellantis, owner of Jeep, Peugeot, and Fiat, saw its full-year revenues fall to €204.908 billion in 2024, a 17 percent decline from 2023 as the company navigated temporary product gaps and continued inventory-reduction initiatives
Revenue: €204.908 billion
7.BMW
BMW (Bayerische Motoren Werke) is a premium automotive manufacturer from Germany, recognized for its luxury cars and motorcycles. It also focuses heavily on innovation, sustainability, and electric mobility. BMW delivered revenues of €168.902 billion in 2023—up 12.0 percent year-on-year—benefiting from record sales volumes and a favorable product mix, including the full consolidation of its Chinese joint venture BBA
Revenue: €168.902 billion
8.Mercedes-Benz Group
Formerly part of Daimler AG, the Mercedes-Benz Group is a German automotive powerhouse producing luxury vehicles and commercial transport solutions. It is known for high-end engineering and design. Mercedes-Benz Group reported revenue of €165.637 billion in 2023, reflecting a 4.9 percent increase over €158.060 billion in 2022 as the luxury marque capitalized on high-margin models and early EV introductions
Revenue: €165.637 billion
9.Électricité de France (EDF)
EDF is a French electric utility company, primarily owned by the French state. It is a key player in Europe’s electricity generation, with a significant share in nuclear, hydro, and renewable energy. Électricité de France reported revenue of €151.040 billion in 2023—up approximately 8.2 percent from €139.7 billion in 2022—driven by higher energy sales in its regulated French and U.K. networks
Revenue: €151.040 billion
10.Banco Santander
Banco Santander is a major financial services group headquartered in Spain. It operates globally, especially in Europe and Latin America, offering a wide range of banking and financial products. Banco Santander generated revenue of €137.244 billion in 2023, reflecting a 10.2 percent increase from €124.767 billion in 2022, supported by net interest income growth in Europe and Latin America
Revenue: €137.244 billion
11.BNP Paribas
BNP Paribas, one of Europe’s leading banks, reported robust growth in 2023, with revenue climbing to €136.076 billion. This performance was buoyed by a 10.8% year-on-year increase in Q4, driven by strong showings in insurance and wealth management.
Revenue: €136.076 billion
12.HSBC
HSBC delivered a striking revenue increase of 30% over the previous year, reaching €134.901 billion. The British banking giant benefited from a favorable interest rate environment, which boosted net interest income across its global operations.
Revenue: €134.901 billion
13.Deutsche Telekom
Deutsche Telekom recorded modest revenue growth of 0.6% organically, bringing its total to €121.046 billion. The firm’s service revenue, however, rose a stronger 3.6%, supported by solid mobile and broadband demand across Europe and North America.
Revenue: €121.046 billion
14.Uniper
German utility Uniper marked a dramatic turnaround after the energy shocks of 2022. Its revenue hit €116.662 billion in 2023, with adjusted EBIT swinging to a profit of €6.367 billion, reversing heavy losses from the previous year and underscoring a resilient recovery strategy.
Revenue: €116.662 billion
15.Allianz
Insurance heavyweight Allianz saw steady growth, posting revenue of €113.517 billion alongside an 8.7% jump in operating profit to €16 billion. All core business segments contributed to this healthy financial year.
Revenue: €113.517 billion
16.Rosneft
Rosneft generated €107.543 billion in revenue in 2023. Despite facing global economic headwinds, the oil major remained profitable, reporting EBITDA of RUB 3,005 billion.
Revenue: €107.543 billion
17.Equinor
Norwegian energy firm Equinor also remained strong, with revenue at €107.174 billion. Though gas prices softened from 2022 levels, the company still posted adjusted earnings of $8.68 billion for the year.
Revenue: €107.174 billion
18.Nestlé
Consumer goods giant Nestlé ended the year with revenue of €103.505 billion. Although reported sales dipped by 1.5%, driven by price-related volume softness, the company’s net profit surged by 20.9%, signaling improved cost efficiency and product mix optimization.
Revenue: €103.505 billion
19.Enel
Italian utility Enel reported €103.311 billion in revenue in 2023, a notable 17.4% decline from the prior year. The drop reflects broader volatility in energy pricing and trading conditions, though the company continues to invest in renewables and smart grids.
Revenue: €103.311 billion
20.Eni
Meanwhile, Eni, another Italian energy player, saw its revenue decline by 27.14% to €102.501 billion, echoing challenges across the oil and gas sector despite ongoing efforts toward decarbonization.
Revenue: €102.501 billion
21.E.ON
Germany's E.ON reported revenues of €101.280 billion in 2023, reflecting its significant role in Europe's energy transition. The company emphasized its commitment to sustainable energy solutions, with substantial investments aimed at modernizing energy infrastructure
Revenue: €101.280 billion
22.Gazprom
Russian energy giant Gazprom faced challenges in 2023, with revenues declining to €100.252 billion. The company reported its first loss since 1999, amounting to 629 billion roubles (approximately $7 billion), primarily due to decreased natural gas exports
Revenue: €100.252 billion
23.Société Générale (SocGen)
French multinational bank SocGen reported revenues of €99.163 billion in 2023. The bank experienced a 7.6% decline compared to the previous year, attributing the decrease to a challenging economic environment and strategic restructuring efforts
Revenue: €99.163 billion
24.Bosch
German engineering and technology company Bosch reported revenues of €90.020 billion in 2023. The company highlighted its diversified operations across mobility, industrial technology, consumer goods, and energy solutions .
Revenue: €90.020 billion
25.Ahold Delhaize
Dutch retail conglomerate Ahold Delhaize posted revenues of €95.834 billion in 2023. The company experienced a 5.9% growth in net online consumer sales, emphasizing its strong omnichannel presence
Revenue: €95.834 billion
26.Crédit Agricole
Crédit Agricole, another leading French banking group, achieved revenues of €93.358 billion in 2023. The bank highlighted strong performance in its property and casualty insurance segment, with a 5.3% growth over the year
Revenue: €93.358 billion
27.Dior
French luxury fashion house Dior achieved revenues of €93.136 billion in 2023, reflecting a 13% organic growth compared to the previous year. The company attributed its success to strong performance across all business segments
Revenue: €93.136 billion
28.Carrefour
French retail giant Carrefour reported revenues of €90.062 billion in 2023, with a like-for-like growth of 4.7%. The company noted a 6.0% increase in food sales, offsetting a 4.9% decline in non-food segments .
Revenue: €90.062 billion
29.Rewe Group
Germany's Rewe Group achieved revenues of €90.794 billion in 2023, marking an 8.9% increase from the previous year. The cooperative emphasized its resilience in a challenging market, with significant investments in its retail operations .
Revenue: €90.794 billion
30.Axa
Axa is a global insurance and asset management company based in France. It provides life, health, property, and casualty insurance along with investment solutions.
Revenue: €90.405 billion
31.Engie
French multinational utility Engie reported revenue of €89.257 billion for 2023, underlining its pivotal role in the global shift to sustainable energy. The company continued to ramp up investments in renewables and energy infrastructure, solidifying its presence in solar, wind, and green hydrogen projects across Europe and beyond.
Revenue: €89.257 billion
32.Orlen
Poland’s largest oil and energy group, Orlen, posted €88.717 billion in revenue, reflecting its growing footprint in Central Europe. The company made headlines with its ongoing diversification strategy—expanding into renewables and building strategic energy infrastructure to support regional energy security.
Revenue: €88.717 billion
33.DHL
German logistics titan DHL recorded €86.385 billion in revenue in 2023. As global trade adjusted to post-pandemic norms, DHL strengthened its integrated supply chain solutions and digital logistics services across over 220 countries and territories
Revenue: €86.385 billion
34.Tesco
UK retail giant Tesco reported €86.231 billion in revenue for 2023. Maintaining its lead in the British grocery market, Tesco expanded its online operations, emphasized customer value amid inflationary pressures, and bolstered its presence in financial and mobile services.
Revenue: €86.231 billion
35.Siemens
Siemens, the German industrial powerhouse, posted €82.931 billion in revenue. With strong performance in automation, smart infrastructure, and healthcare tech, Siemens capitalized on demand for digital transformation across industries and cities.
Revenue: €82.931 billion
36.Vinci
Construction and concessions leader Vinci reported €75.750 billion in revenue. The French multinational continued to manage and build major global infrastructure—from transport hubs to renewable energy facilities—supporting urban and environmental development initiatives.
Revenue: €75.750 billion
37.Lukoil
Russian oil major Lukoil reported €75.012 billion in revenue for 2023. Despite facing international sanctions and market disruptions, the privately-owned firm maintained steady operations in exploration, refining, and global distribution of petroleum products.
Revenue: €75.012 billion
38.BASF
Germany’s BASF, one of the world’s leading chemical producers, posted €74.487 billion in 2023 revenue. While navigating fluctuations in raw material prices and global demand, BASF advanced its innovation-driven portfolio with a strong focus on green chemistry and sustainable agriculture.
Revenue: €74.487 billion
39.Groupe BPCE
French banking group Groupe BPCE posted €73.774 billion in revenue. The cooperative bank, formed by the merger of Banque Populaire and Caisse d’Epargne, leveraged its diversified offerings in insurance, asset management, and retail banking to weather market headwinds.
Revenue: €73.774 billion
40.UBS Group
Swiss-based UBS Group recorded €71.245 billion in 2023 revenue, supported by solid performance in wealth and asset management. Following its landmark acquisition of Credit Suisse, UBS strengthened its global position, especially in high-net-worth client services and investment banking.
Revenue: €71.245 billion