Fortune has released its 2025 Fortune 500 Europe list, with Volkswagen securing the top position among the continent’s largest corporations. This year, the total revenue of the ranked companies reached an impressive $14.9 trillion, marking a 2.5% increase from the previous year. The automotive sector significantly influenced this ranking, with several companies from this industry leading the charge.
Volkswagen generated $351 billion in revenue, representing a 1% growth compared to last year. In contrast, Shell, ranked second, experienced an 11% decline in revenue. The Fortune 500 Europe list reflects the resilience of major corporations, which collectively employ 35 million people, a notable increase of 4%, or approximately 1.2 million jobs, compared to last year.
Women in Leadership and Sector Performance
The 2025 list also highlights the representation of women in corporate leadership, with a record 38 female CEOs leading these companies. Despite this progress, women still occupy only 7.6% of the top positions. Notably, no female CEOs are present in the top ten, although Catherine MacGregor at Engie, ranked 37, stands out as the sole woman leading a company within the top 50. The total revenue from women-led firms rose by 12% to $924 billion, indicating a positive trend, but the transition of four companies to male CEOs in the near future raises concerns about sustaining this momentum.
In terms of profitability, HSBC reported the highest profits among the listed companies, nearing $24 billion in 2024, making it one of only four firms to exceed $15 billion in profits. While overall revenues increased, the profit-to-sales ratio for the Fortune 500 Europe companies fell to 6.6%, down from 7.1%, reflecting the impact of rising operational costs.
Sector Insights and Future Outlook
Europe’s economy remains robust, driven primarily by sectors such as energy, finance, and automotive manufacturing. The top five spots are dominated by major players in energy, including Shell, Glencore, TotalEnergies, and BP. Germany’s industrial prowess is evident with Volkswagen, Mercedes-Benz, and BMW all featuring prominently in the top ten. The UK also showcases its strength in the energy sector, securing two positions among the top five.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, stated, “TotalEnergies is profitably growing its energy production by about 4% a year to meet global demand, while reducing emissions from our operations. We are honored to be recognized in the top of this list, reflecting the strength of our consistent strategy.”
Grethe Schepers, Lists Director Europe at Fortune, emphasized the significance of the ranking, noting, “The Fortune 500 Europe is more than a ranking; it’s a mirror of the scale and strength of Europe’s most influential companies. Now in its third edition, it continues to capture the pulse of European business.”
The Fortune 500 Europe list serves as a benchmark for corporate performance and sheds light on the leadership landscape in Europe. As this edition is released, Fortune aspires to cultivate a connected community of executives, fostering dialogue and collaboration to advance leadership across the region.
Companies on the Fortune 500 Europe list are ranked by their total revenues for the most recent fiscal years available. All entities must provide financial data and report their figures to a government agency. The figures presented in the list are based on the companies’ reports, with comparisons made to previous years’ data as originally disclosed.
For more information about the Fortune 500 Europe list and methodology, please visit Fortune’s official website.
