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30 Swedish firms in Forbes Global 2000

30 Swedish firms in Forbes Global 2000

Published: 12 May 2010 17:58 GMT+02:00
Updated: 12 May 2010 17:58 GMT+02:00

Forbes Magazine has included 30 Swedish companies on its list of the world's most successful major companies, including Nordea Bank, ABB and H&M.

The top Swedish company on the list, published in the April 21st edition, was Nordea Bank, which came in 95th. Of the 26 industries the magazine analyses, Sweden made the list in 14.

Three Swedish companies were also among 130 Global High Performers. The magazine chose companies based on their growth, return to investor and future prospects. The average high performer grew earnings by 28 percent annually and produced 20 percent annualised gains to shareholders in the last five years.

The highest-ranked Swedish company was ABB, listed as a Swiss company at 143rd and first in capital goods. The other two Swedish companies were H&M (Hennes & Mauritz), 427th overall and fifth in retailing, and Electrolux Group, the world's second-largest home appliances manufacturer, at 790th and third overall in consumer durables.

"I'm proud that we have been included in this elite list of 130 Global High Performers," Electrolux President and CEO Hans Stråberg said in a statement. "We've worked hard and focused to reach where we are today. Making the list of the top 130 Global High Performers confirms that we are on the right track and doing what is right for shareholders and consumers."

Over the last 12 months, Electrolux has achieved a return on capital employed of 26.5 percent. Its average annual total return to shareholders over the last five years has been 24 percent.

"During the market downturn, we made tough choices and stuck to our strategy, focusing on product development, brand and cost efficiency," added Stråberg. "Our strategy is paying off and we can now see the results. In 2009, we made record profits and the first quarter of 2010 was our best first quarter ever."

The Global 2000 list, which has been published since 2003, is based on a mix of four metrics: sales, profit, assets and market value. The companies account for $30 trillion in revenues, $1.4 trillion in profits, $124 trillion in assets and $31 trillion in market value. All metrics fell from last year, except for market value, which rose 61 percent.

In addition to banking, capital goods, retailing and consumer durables, famous Swedish brands also made the list in the following categories, listed with the highest-ranked company and ranking:

  • drugs and biotechnology: AstraZeneca, 100th (listed under UK)

  • telecommunications services: TeliaSonera, 208th

  • technology hardware and equipment: Ericsson, 276th

  • household and personal products: SCA-Svenska Cellulosa, 452th

  • diversified financials: Investor, 462th

  • construction: Skanska, 640th

  • business services and supplies: Assa Abloy, 1,176th

  • food, drink & tobacco: Swedish Match, 1,528th

  • materials: Stora Enso, 1,044th (listed under Finland)

  • health care and equipment: Getinge, 1,684th

Vivian Tse (vivian.tse@thelocal.se)

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