Revenue Growth Benchmarks
Top-line performance metrics of companies across industries and countries
Top 100 Companies Listed in Nordic Countries
The industrial and energy sectors dominate the Nordic economy, accounting for approximately 51% of total LTM revenues. The industrials sector, alongside healthcare, recorded a 15% growth rate, while the nascent communication services sector, representing only 2% of total sales, experienced a substantial 36% growth. However, financial services continued to be a drag on the economy, with companies reporting a 7% decline in LTM sales. Notably, transportation companies such as Finnair Oyj and SAS AB, along with the Oil & Gas company Aker BP, doubled their revenues in the last fiscal year.
[ 1: LTM Sales in USD Biliion | Red Shading: Companies with negative growth in period ]
| Sector | Company | HQ | Industry | Latest | LTM | year-on-year % | CAGR | ||||||||
| FQ | Sales1 | 3m | 6m | 9m | ltm | 1y | 2y | 3y | 5y | ||||||
| Basic Materials | Yara International ASA | NOR | Agriculture | 2023-09 | 17.38 | -34.8% | -33.3% | -28.4% | -19.0% | 58.2% | 53.0% | 26.7% | 20.1% | ||
| Kemira Oyj | FIN | Chemicals | 2023-12 | 3.66 | -16.5% | -15.6% | -11.6% | -5.2% | -5.2% | 12.5% | 11.7% | 5.5% | |||
| Elkem ASA | NOR | Chemicals | 2023-09 | 3.50 | -29.9% | -28.0% | -24.4% | -19.0% | 36.1% | 36.9% | 26.5% | 16.3% | |||
| UPM-Kymmene Oyj | FIN | Forest Products | 2023-12 | 11.32 | -21.7% | -23.1% | -16.7% | -10.8% | -10.8% | 3.2% | 6.8% | 0.0% | |||
| Stora Enso Oyj | FIN | Forest Products | 2023-12 | 10.17 | -24.1% | -26.2% | -24.8% | -19.5% | -19.6% | -3.9% | 3.2% | -2.2% | |||
| Billerud AB | SWE | Forest Products | 2023-09 | 4.10 | -13.6% | -13.2% | 3.4% | 16.9% | 62.5% | 33.5% | 20.3% | 13.8% | |||
| Norsk Hydro ASA | NOR | Metals & Mining | 2023-12 | 18.30 | 6.1% | -5.2% | -10.1% | -6.9% | -6.9% | 13.7% | 19.2% | 4.0% | |||
| Boliden AB | SWE | Metals & Mining | 2023-12 | 7.40 | -12.0% | -6.8% | -9.3% | -9.1% | -9.1% | 7.0% | 11.7% | 8.4% | |||
| SSAB AB | SWE | Steel | 2023-12 | 10.97 | -11.1% | -8.8% | -9.5% | -6.8% | -6.8% | 11.8% | 21.2% | 9.2% | |||
| Outokumpu Oyj | FIN | Steel | 2023-12 | 7.53 | -20.2% | -28.1% | -28.4% | -26.7% | -26.7% | -2.0% | 7.3% | 0.3% | |||
| Communication Services | Embracer Group AB | SWE | Interactive Media | 2023-12 | 4.02 | 3.7% | 8.0% | 17.7% | 27.2% | 120.7% | 104.3% | 92.9% | 162.6% | ||
| Telenor ASA | NOR | Telecommunication Services | 2023-09 | 9.74 | 2.9% | 3.9% | 4.0% | 42.1% | 1.9% | -7.6% | -4.5% | -2.5% | |||
| Telia Company AB | SWE | Telecommunication Services | 2023-12 | 8.61 | 0.9% | 2.5% | 3.2% | 3.8% | 3.7% | 0.3% | -0.2% | 1.2% | |||
| Consumer Cyclical | Electrolux AB | SWE | Furnishings, Fixtures & Appliances | 2023-12 | 12.66 | -0.4% | -2.7% | -2.9% | -0.3% | -0.3% | 3.5% | 5.1% | 3.1% | ||
| Hennes & Mauritz AB | SWE | Manufacturing - Apparel & Accessories | 2023-08 | 22.19 | 6.0% | 5.9% | 7.6% | 8.2% | 12.4% | 9.3% | -1.3% | 2.3% | |||
| Huhtamaki Oyj | FIN | Packaging & Containers | 2023-12 | 4.51 | -6.4% | -9.3% | -9.0% | -6.9% | -6.9% | 8.0% | 8.1% | 6.1% | |||
| Pandora A/S | DNK | Retail - Cyclical | 2023-12 | 4.08 | 9.8% | 8.4% | 7.3% | 6.3% | 6.3% | 9.7% | 14.0% | 4.3% | |||
| Volvo Car AB | SWE | Vehicles & Parts | 2023-12 | 37.61 | 4.0% | 9.2% | 18.7% | 21.0% | 21.0% | 19.0% | 15.0% | 9.6% | |||
| Autoliv Inc | SWE | Vehicles & Parts | 2023-12 | 10.48 | 17.8% | 15.3% | 18.8% | 18.5% | 18.5% | 12.8% | 12.0% | 3.8% | |||
| Bilia AB | SWE | Vehicles & Parts | 2023-12 | 3.63 | -3.0% | 6.2% | 7.4% | 9.0% | 9.0% | 4.1% | 8.5% | 6.3% | |||
| Consumer Defensive | Carlsberg A/S | DNK | Beverages - Alcoholic | 2023-12 | 10.68 | na | 2.8% | na | 4.7% | 4.7% | 10.7% | 7.9% | 3.3% | ||
| Essity AB | SWE | Consumer Packaged Goods | 2023-12 | 13.86 | -11.6% | 2.0% | 7.4% | 12.1% | 12.1% | 20.4% | 6.5% | 4.4% | |||
| Orkla ASA | NOR | Consumer Packaged Goods | 2023-09 | 6.35 | 13.8% | 16.6% | 18.3% | 17.4% | 15.8% | 11.3% | 10.2% | 8.1% | |||
| Mowi ASA | NOR | Consumer Packaged Goods | 2023-12 | 5.94 | 16.0% | 18.6% | 20.8% | 25.8% | 22.7% | 22.1% | 16.8% | 11.4% | |||
| AAK AB | SWE | Consumer Packaged Goods | 2023-12 | 4.33 | -18.6% | -15.7% | -14.0% | -8.7% | -8.7% | 13.9% | 18.1% | 10.8% | |||
| Austevoll Seafood ASA | NOR | Consumer Packaged Goods | 2023-09 | 3.14 | -5.8% | 0.4% | 6.4% | 7.2% | 17.3% | 17.9% | 10.2% | 8.4% | |||
| Leroy Seafood Group ASA | NOR | Consumer Packaged Goods | 2023-09 | 2.86 | 7.5% | 11.9% | 15.9% | 14.2% | 15.5% | 15.5% | 9.3% | 7.4% | |||
| Kesko Oyj | FIN | Retail - Defensive | 2023-12 | 12.75 | -2.7% | -2.4% | -1.6% | -0.2% | -0.2% | 2.1% | 3.4% | 2.6% | |||
| Axfood AB | SWE | Retail - Defensive | 2023-12 | 7.64 | 5.2% | 6.9% | 8.8% | 10.4% | 10.4% | 18.4% | 14.7% | 11.0% | |||
| Energy | Equinor ASA | NOR | Oil & Gas | 2023-12 | 107.44 | -9.0% | -24.8% | -26.6% | -21.5% | -23.4% | 18.9% | 41.4% | 10.7% | ||
| Neste OYJ | FIN | Oil & Gas | 2023-12 | 24.81 | -3.9% | -6.6% | -12.7% | -10.8% | -10.8% | 23.0% | 25.0% | 9.0% | |||
| Aker BP ASA | NOR | Oil & Gas | 2023-12 | 13.67 | -0.6% | -14.7% | 2.7% | 14.0% | 12.4% | 68.2% | 79.0% | 34.9% | |||
| Var Energi ASA | NOR | Oil & Gas | 2023-12 | 6.85 | -23.9% | -28.8% | -30.7% | -23.5% | -25.6% | 15.1% | 42.3% | na | |||
| Aker Solutions ASA | NOR | Oil & Gas | 2023-12 | 3.39 | na | 20.6% | na | 31.4% | 31.4% | 10.9% | 8.1% | 7.3% | |||
| Financial Services | Investor AB | SWE | Asset Management | 2023-09 | 16.05 | -89.9% | -278.8% | -214.5% | ####### | -110.3% | na | -157.8% | -181.5% | ||
| Storskogen Group AB | SWE | Asset Management | 2023-09 | 3.46 | -1.0% | 1.8% | 10.6% | 21.0% | 95.8% | 95.8% | 77.1% | na | |||
| L E Lundbergforetagen AB | SWE | Asset Management | 2023-12 | 2.89 | -10.9% | -7.3% | -6.1% | -2.5% | -2.5% | 8.1% | 13.1% | 7.4% | |||
| Industrivarden AB | SWE | Asset Management | 2023-12 | 2.54 | -17.6% | 5.5% | 156.6% | -293.4% | -293.4% | 0.6% | 47.0% | -226.5% | |||
| Nordea Bank Abp | FIN | Banks | 2023-12 | 12.72 | 3.0% | 16.2% | 21.3% | 29.2% | 23.4% | 15.1% | 15.0% | 8.1% | |||
| Danske Bank A/S | DNK | Banks | 2023-12 | 8.20 | 13.4% | 19.4% | 26.8% | 28.3% | 28.3% | 9.2% | 6.7% | 4.0% | |||
| DNB Bank ASA | NOR | Banks | 2023-12 | 7.68 | 8.9% | 19.3% | 20.8% | 24.2% | 24.3% | 21.1% | 13.2% | 10.2% | |||
| Skandinaviska Enskilda Banken AB | SWE | Banks | 2023-12 | 7.56 | 7.1% | 16.3% | 23.1% | 24.5% | 24.0% | 19.9% | 17.2% | 11.8% | |||
| Swedbank AB | SWE | Banks | 2023-12 | 6.80 | 20.0% | 27.0% | 36.5% | 40.9% | 40.9% | 24.4% | 17.0% | 11.2% | |||
| Svenska Handelsbanken AB | SWE | Banks | 2023-12 | 5.857 | 12.9% | 18.9% | 27.6% | 28.9% | 25.8% | 19.0% | 15.4% | 7.6% | |||
| Storebrand ASA | NOR | Diversified Financial Services | 2023-12 | 4.210 | 64.1% | 100.1% | 347.5% | -930.7% | -284.7% | 1.8% | 21.6% | 16.1% | |||
| Sampo Oyj | FIN | Insurance | 2023-12 | 9.480 | 28.4% | 24.8% | 42.2% | 32.2% | 13.8% | -6.9% | 1.1% | 2.5% | |||
| Tryg A/S | DNK | Insurance | 2023-12 | 5.836 | 10.1% | 4.2% | 7.4% | 18.6% | 18.6% | 29.7% | 21.2% | 18.1% | |||
| Gjensidige Forsikring ASA | NOR | Insurance | 2023-12 | 3.653 | 22.4% | 25.5% | 29.1% | 30.2% | 30.2% | 10.5% | 9.8% | 8.6% | |||
| Healthcare | Novo Nordisk A/S | DNK | Biotechnology | 2023-12 | 33.715 | 37.0% | 33.0% | 32.6% | 31.3% | 31.3% | 28.4% | 22.3% | 15.7% | ||
| H. Lundbeck AS | DNK | Drug Manufacturers | 2023-12 | 2.890 | 6.4% | 5.6% | 7.2% | 9.1% | 9.1% | 10.5% | 4.1% | 2.2% | |||
| Coloplast A/S | DNK | Medical Devices & Instruments | 2023-12 | 3.629 | 8.2% | 5.5% | 5.1% | 6.3% | 8.5% | 12.3% | 9.7% | 8.3% | |||
| Demant A/S | DNK | Medical Devices & Instruments | 2023-12 | 3.258 | na | 10.6% | na | 13.9% | 13.9% | 12.0% | 15.8% | 10.0% | |||
| Getinge AB | SWE | Medical Devices & Instruments | 2023-09 | 2.860 | 9.6% | 8.6% | 10.8% | 9.5% | 4.6% | -2.6% | 2.1% | 4.7% | |||
| Industrials | Saab AB | SWE | Aerospace & Defense | 2023-12 | 4.860 | 16.3% | 22.2% | 22.4% | 22.9% | 22.9% | 14.8% | 13.4% | 9.3% | ||
| Kongsberg Gruppen ASA | NOR | Aerospace & Defense | 2023-09 | 3.658 | 28.8% | 28.0% | 28.3% | 25.2% | 15.9% | 11.4% | 11.0% | 17.0% | |||
| Securitas AB | SWE | Business Services | 2023-09 | 14.647 | 11.2% | 20.1% | 23.7% | 26.5% | 23.7% | 11.1% | 6.3% | 7.6% | |||
| Assa Abloy AB | SWE | Business Services | 2023-12 | 13.251 | 12.3% | 14.1% | 15.0% | 16.5% | 16.5% | 21.7% | 17.1% | 10.9% | |||
| ISS A/S | DNK | Business Services | 2023-12 | 11.421 | na | 5.8% | na | 6.6% | 6.6% | 5.0% | 3.6% | 1.3% | |||
| Schouw & Co A/S | DNK | Conglomerates | 2023-12 | 5.401 | -8.8% | 2.6% | 8.3% | 14.0% | 14.0% | 23.9% | 20.5% | 15.3% | |||
| Skanska AB | SWE | Construction | 2023-12 | 15.742 | 9.0% | 3.3% | 2.0% | 2.4% | 2.4% | 7.8% | 1.4% | -0.5% | |||
| Peab AB | SWE | Construction | 2023-09 | 5.770 | -6.4% | -4.3% | -1.2% | -1.5% | 5.1% | 1.7% | 3.2% | 4.4% | |||
| NCC AB | SWE | Construction | 2023-12 | 5.361 | -2.7% | -1.6% | 0.9% | 5.0% | 5.0% | 3.2% | 1.8% | -0.1% | |||
| NIBE Industrier AB | SWE | Construction | 2023-09 | 4.387 | na | na | na | 74.1% | 30.0% | 21.5% | 16.5% | 16.1% | |||
| Veidekke ASA | NOR | Construction | 2023-09 | 4.016 | 8.8% | 10.8% | 11.5% | 10.1% | 2.8% | 0.7% | 1.9% | 4.5% | |||
| Rockwool AS | DNK | Construction | 2023-12 | 3.915 | -2.0% | -6.3% | -7.5% | -7.2% | -7.2% | 8.4% | 11.7% | 6.2% | |||
| Ratos AB | SWE | Construction | 2023-12 | 3.178 | -2.9% | 4.6% | 9.6% | 13.0% | 13.0% | 22.3% | 17.2% | 7.9% | |||
| AF Gruppen ASA | NOR | Construction | 2023-09 | 2.925 | -8.4% | -6.8% | -2.1% | -0.5% | 11.6% | 7.2% | 11.2% | 17.8% | |||
| Per Aarsleff Holding A/S | DNK | Construction | 2023-12 | 2.861 | 0.2% | -7.3% | -0.8% | 2.3% | 11.7% | 17.6% | 15.0% | 10.8% | |||
| Volvo AB | SWE | Farm & Heavy Construction Machinery | 2023-12 | 52.053 | 10.3% | 12.6% | 14.4% | 16.7% | 16.7% | 21.9% | 17.8% | 7.2% | |||
| Metso Corp | FIN | Farm & Heavy Construction Machinery | 2023-12 | 6.019 | -1.1% | 0.0% | 4.7% | 8.6% | 8.5% | 12.8% | 17.5% | 35.1% | |||
| Epiroc AB | SWE | Farm & Heavy Construction Machinery | 2023-12 | 5.682 | 11.7% | 14.3% | 20.4% | 21.4% | 21.4% | 23.4% | 18.7% | 9.5% | |||
| Cargotec Oyj | FIN | Farm & Heavy Construction Machinery | 2023-12 | 4.945 | -3.6% | 0.7% | 7.9% | 11.7% | 11.7% | 17.4% | 11.9% | 6.7% | |||
| Konecranes Oyj | FIN | Farm & Heavy Construction Machinery | 2023-12 | 4.299 | 14.1% | 13.9% | 14.5% | 18.4% | 18.4% | 11.8% | 7.8% | 4.7% | |||
| Indutrade AB | SWE | Industrial Distribution | 2023-12 | 2.998 | 8.2% | 12.5% | 15.3% | 17.8% | 17.8% | 21.1% | 18.3% | 13.6% | |||
| Vestas Wind Systems A/S | DNK | Industrial Products | 2023-12 | 16.637 | -0.1% | 5.1% | 4.8% | 6.3% | 6.4% | -0.5% | 1.3% | 8.7% | |||
| Atlas Copco AB | SWE | Industrial Products | 2023-12 | 16.259 | 12.2% | 14.5% | 19.4% | 22.2% | 22.2% | 24.8% | 20.1% | 12.6% | |||
| Sandvik AB | SWE | Industrial Products | 2023-12 | 11.913 | 2.3% | 4.9% | 9.3% | 12.6% | 12.6% | 21.5% | 13.6% | 4.8% | |||
| KONE Oyj | FIN | Industrial Products | 2023-12 | 11.854 | -3.5% | -5.9% | -0.8% | 0.4% | 0.4% | 2.1% | 3.3% | 3.8% | |||
| SKF AB | SWE | Industrial Products | 2023-12 | 9.782 | -3.6% | -0.3% | 4.5% | 7.2% | 7.2% | 12.7% | 11.5% | 3.9% | |||
| Wartsila Corp | FIN | Industrial Products | 2023-12 | 6.510 | -7.1% | -3.3% | -1.3% | 3.0% | 3.0% | 12.2% | 9.3% | 3.1% | |||
| Valmet Corp | FIN | Industrial Products | 2023-12 | 5.987 | -2.7% | -1.2% | 2.4% | 9.0% | 9.0% | 18.6% | 13.9% | 10.7% | |||
| Alfa Laval AB | SWE | Industrial Products | 2023-09 | 5.852 | 19.6% | 26.4% | 28.4% | 31.5% | 27.4% | 12.1% | 3.9% | 8.1% | |||
| Husqvarna AB | SWE | Industrial Products | 2023-09 | 5.172 | -13.9% | -1.8% | 2.2% | 6.0% | 14.8% | 13.5% | 8.5% | 6.5% | |||
| FLSmidth & Co. A/S | DNK | Industrial Products | 2023-12 | 3.499 | -8.1% | -3.5% | 5.5% | 10.3% | 10.3% | 17.1% | 13.6% | 5.2% | |||
| Trelleborg AB | SWE | Industrial Products | 2023-12 | 3.229 | 3.8% | 7.9% | 11.2% | 13.9% | 13.9% | 20.1% | 4.3% | 0.2% | |||
| Beijer Ref AB | SWE | Industrial Products | 2023-09 | 2.853 | 42.0% | 43.9% | 45.8% | 43.9% | 33.9% | 26.9% | 15.2% | 18.2% | |||
| A. P. Moller Maersk A/S | DNK | Transportation | 2023-12 | 51.245 | -35.9% | -44.3% | -43.3% | -39.0% | -39.0% | -7.4% | 12.8% | 6.3% | |||
| DSV AS | DNK | Transportation | 2023-12 | 21.888 | -28.7% | -35.5% | -37.1% | -36.0% | -36.0% | -9.1% | 9.2% | 13.8% | |||
| Wallenius Wilhelmsen ASA | NOR | Transportation | 2023-12 | 5.184 | 1.3% | 1.0% | 7.0% | 11.8% | 9.0% | 24.8% | 28.2% | 9.2% | |||
| SAS AB | SWE | Transportation | 2024-01 | 4.056 | 13.0% | 12.9% | 25.8% | 26.0% | 32.1% | 73.6% | 27.0% | -1.2% | |||
| DFDS A/S | DNK | Transportation | 2023-12 | 3.964 | 4.4% | 1.1% | -0.3% | 1.6% | 1.6% | 22.2% | 25.0% | 11.7% | |||
| Dampskibsselskabet NORDEN A/S | DNK | Transportation | 2023-12 | 3.705 | -37.5% | -41.1% | -39.0% | -32.4% | -32.4% | 3.9% | 16.7% | 9.4% | |||
| Finnair Oyj | FIN | Transportation | 2023-12 | 3.234 | 5.8% | 9.8% | 17.2% | 26.8% | 26.8% | 88.8% | 53.3% | 1.1% | |||
| Technology | Telefonaktiebolaget L M Ericsson | SWE | Hardware | 2023-12 | 24.799 | -16.4% | -11.5% | -7.2% | -3.0% | -3.0% | 6.5% | 4.3% | 4.5% | ||
| Nokia Oyj | FIN | Hardware | 2023-12 | 24.090 | -23.4% | -21.9% | -16.2% | -10.6% | -10.6% | 0.1% | 0.6% | -0.3% | |||
| Hexagon AB | SWE | Hardware | 2023-09 | 5.803 | 12.3% | 14.6% | 15.7% | 17.6% | 27.2% | 21.7% | 11.5% | 10.6% | |||
| Atea ASA | NOR | Software | 2023-09 | 3.370 | -4.2% | 6.0% | 12.1% | 14.5% | 13.7% | -9.4% | -4.0% | 0.0% | |||
| TietoEVRY Corp | FIN | Software | 2023-12 | 3.086 | -2.0% | -3.2% | -4.1% | -2.6% | -2.6% | 0.5% | 0.8% | 12.3% | |||
| Utilities | Orsted A/S | DNK | Utilities - Independent Power Producers | 2023-12 | 9.378 | -63.8% | -51.8% | -48.4% | -38.5% | -36.2% | 0.0% | 23.0% | 0.1% | ||
| Fortum Oyj | FIN | Utilities - Independent Power Producers | 2023-12 | 7.574 | -22.8% | -28.4% | -23.8% | -12.5% | -13.7% | 2.2% | -48.5% | 5.1% | |||
| Source: Annual Filings, Company Website | |||||||||||||||