Sweden’s top companies dominate various industries, from automotive to technology. With a combined revenue of $81 billion, these companies showcase Sweden’s economic prowess on a global scale. Let’s explore the top 10 biggest companies in Sweden by revenue in 2025.
1. Volvo Group
Industry: automotive
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $49,200 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. In 2024, the company expanded its electric vehicle offerings and increased investment in sustainable transport solutions.
2. Volvo Car
Industry: automotive
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $33,500 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. In 2024, Volvo Car accelerated its transition to electric vehicles, with over 40% of sales being fully electric models.
3. Ericsson
Industry: technology
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $27,300 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. In 2024, Ericsson continued to lead 5G deployments and invested heavily in 6G research and development.
4. H&M
Industry: retail
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $23,100 Millions
Stock symbol: HM-B.ST
H&M, headquartered in Stockholm, Sweden, was founded in 1947. It operates in over 75 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. In 2024, H&M expanded its digital sales channels and launched new circular fashion initiatives.
5. Skanska
Industry: construction
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $17,100 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. In 2024, Skanska increased its focus on green building and infrastructure projects, including several major sustainable urban developments.
6. Essity
Industry: consumer staples
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $15,400 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. In 2024, Essity expanded its digital health solutions and increased investments in sustainable product lines.
7. Electrolux
Industry: consumer discretionary
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $14,200 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. In 2024, Electrolux launched several new smart home appliances and strengthened its sustainability initiatives across its product range.
8. Atlas Copco
Industry: industrial machinery
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $14,000 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. In 2024, Atlas Copco expanded its portfolio in energy-efficient solutions and digital industrial services.
9. SSAB
Industry: steel
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $13,000 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. In 2024, SSAB made significant progress in fossil-free steel production and expanded its international partnerships.
10. Spotify
Industry: technology
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $13,300 Millions
Stock symbol: SPOT
Spotify, founded in 2006, is headquartered in Stockholm, Sweden. It operates in over 180 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. In 2024, Spotify expanded its audiobook offerings and introduced new AI-powered personalization features.
The combined revenue of Sweden’s top 10 companies amounts to $81 billion
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