While PKN Orlen has retained its top position, the list has changed slightly. MOL has fallen from its lead to second place, with a revenue decrease of 15.6%. Other notable companies include Skoda Auto, Jeronimo Martins Poland, and Polskie Gornictwo Naftowe i Gazownictwo (PGNiG).
British Gas
British Gas is the largest energy provider in the UK with 3.5 million customers on standard variable tariffs. It has acquired seventy thousand customers from other energy companies. But it has lost a lot of customers in the past few years. On price comparison websites, British Gas is not the first option that comes up. Instead, many of the cheapest deals are from smaller suppliers that pay no green taxes. One website, Energyhelpline, lists 80 suppliers for domestic customers. Mark Todd, the managing director of Centrica’s international downstream operation, told the BBC that switching was easy and there was plenty of choice.
Despite falling sales, British Gas has been working hard to reverse its slumping customer base. It has rolled out new services, such as energy monitoring via mobile apps. Earlier this year, British Gas had to suspend the production of natural gas due to the heightened prices. In addition, the company cut prices for domestic customers and introduced new services. But these efforts haven’t been enough to stem the decline in customer numbers.
In recent weeks, ten small U.K. energy suppliers have gone bust, leaving 1.7 million customers with no alternative but to switch suppliers. Meanwhile, the energy regulator Ofgem has warned that more will collapse this winter. Meanwhile, the biggest companies in the UK are seeking a multi-billion-pound emergency support package, and the creation of a bad bank. The company has also been rebranded to People’s Energy, Pfp Energy, and Moneyplus Energy.
Allianz
German insurance giant Allianz has recently taken steps to become more European, in part by converting its legal form to a Societas Europae (European corporation). This new form allows companies to operate under a single set of management rules and does not require subsidiaries to be governed by national laws. But the change isn’t a welcome one for some employees. Diekmann hopes that this move will result in more streamlined decision-making, allowing managers to exercise greater control over decisions.
Allianz began work in Greece in 1985 and now has nearly 500 offices in the country. As a result, many people in Greece purchase Allianz products. It is the most widely recognized insurer in Greece, with an annual turnover of $5.3 billion. Allianz also has offices in Spain, Italy, Brazil, and the United States. Its head office is located in Munich, where it has its headquarters.
The German insurance giant reported a lower second-quarter profit than expected due to higher damage claims, the loss of a South Korea business, and weak investment performance. Its share price declined nearly 4 percent after the announcement. While the company was ahead of its lowest expectations, its operating profit fell short of its year-earlier quarter by about half. But the company is still on track to hit its full-year target of 10.5 billion euros.
Carrefour Company
The Carrefour Company opened its first store in New Jersey in 1991. However, it failed to make money in the U.S.A. In the following years, it closed two of its American stores and expanded to other countries. Currently, Carrefour operates stores in Italy, Turkey, Germany, Belgium, and Spain. In 1995, the company expanded to Asia, entering the market of China’s mainland.
The Carrefour Company is a French multinational corporation with headquarters in Boulogne Billancourt, France. The company has 12,111 stores across 30 countries and 360,000 employees. The company generated EUR84 billion in sales last year. The company is known as the inventor of the hypermarket concept. In fact, a survey from 1987 revealed that the hypermarket was viewed by French consumers as the most revolutionary innovation of the previous two decades.
In recent years, the Carrefour Company has expanded its international presence, becoming one of the top companies in Europe and the world. Today, it has a presence in countries such as China, the Middle East, and South America. Its success in China is due in part to its sourcing strategy, which is based on local suppliers. It plans to reach 5 billion in revenue by 2022.
In addition to its supermarkets, the Carrefour Company operates hypermarkets and smaller stores in Italy. In fact, the company is the fifth largest retailer in Italy, and operates many franchise stores in the country. In 1997, it opened its first hypermarket in Poland. Since then, it has opened over 90 hypermarkets in Poland under the Proxi banner. In addition, the company has also acquired organic food chains SoBio and Bio C’Bon, and launched a soft discount store named Supeco in the Hauts-de-France.
Siemens
Listed below are the top 10 companies in Europe by revenue, ordered by market cap in millions of US Dollars. Siemens is a major player in Germany’s industrial and infrastructure sector. The company relies on its reputation in the trading world, with revenue rising 8% last year in Asia-Pacific and 12% in the Americas. Siemens has been ranked as one of the world’s most innovative companies for decades.
While Siemens used to have a reputation for ethical conduct, it hid the scandal by presenting a pristine face to the public. Before the scandal broke, the company was known for its technological products, quality services, and activities in remote areas. It won a number of competitive bidding processes, and was considered one of the world’s best. But then in 2006, the company was raided by German police. Siemens has since claimed innocence and blamed the incident on a small “criminal gang.”
With so many businesses, Siemens must remain flexible enough to meet changing market demands. To this end, the company cut an intermediate layer and four sectors that were not part of its value chain. While reducing costs in these businesses was necessary to remain competitive, Siemens lost an opportunity to strengthen its turbine business. Mr Kaeser will step down as CEO in February 2021, and Siemens’ future looks brighter than ever.
AXA Company
AXA is one of the world’s largest insurers, with gross revenue of almost $115 billion. It has been able to stay in the black throughout the recent financial crisis by focusing on health and protection insurance, and commercial property and casualty insurance. The company also has a consolidated business model, selling off businesses in Central and Eastern Europe, India, and the Gulf region, and increasing its solvency ratio. Its recent announcements of financial results have boosted its stock price.
AXA SA is a multinational insurance company headquartered in Paris, France. It specializes in insurance and financial services across the world. The company has operations in more than 60 countries and generates over $112.4 billion in revenues each year. It is headquartered in France, but operates in several countries, including Germany, France, and the Middle East. AXA is also a key component of the Stoxx-50 index.
AXA also has significant operations in the United Kingdom, Ireland, the US Financial Life sector, and Australia. The company’s financial health has also led it to achieve an impressive AA credit rating and a Solvency II ratio of more than 200%. Its financial health has made it one of the ten largest companies in Europe. The company’s strategy includes building a protection business.
BNP Paribas
A global leader in debt financing, BNP Paribas has a deep European footprint and a strong offer for corporate clients. The group has developed specialized Centres of Competence, each overseeing a specific banking service. BNP Paribas’s expertise in corporate banking has naturally brought the company together with companies. Today, the BNP Paribas CIB division is Europe’s leading provider of corporate finance and capital markets services.
The company reorganized its retail banking divisions in 2009, renaming it the “Europe Mediterranean” group. Investment & Protection Services, headed by Renaud Dumora, brings together four specialized businesses in savings and investment management. The BNP Paribas Cardif unit generates 1.4 billion euros in pre-tax net income. The BNP Paribas Asset Management division provides wealth management services.
Another BNP Paribas subsidiary is Bank of the West. Its subsidiaries, Bank of the West and First Hawaiian Bank, operate retail banking in 19 Western US states. The company is currently one of the top 10 biggest banks in Europe based on assets. Combined, these companies serve over five million customers. BNP Paribas also owns Bank of the West, which is based in San Francisco.
BNP Paribas has a global presence and employs over 190,000 people in Europe. It has 5400 branches in forty-four countries. Its logo was designed by Laurent Vincent under the direction of Communications Director Antoine Sire. The stars are intended to represent Europe and universality, and they transform into birds in order to convey the meaning of freedom and change. In addition to the stars, BNP Paribas also includes a green square to represent nature and optimism.
