In this article, we will discuss the 15 biggest Swiss companies. If you want to skip our analysis, you can proceed to the section highlighting the 5 Biggest Swiss Companies.
Economy of Switzerland
According to a report by the Federal Council of Switzerland, the Swiss GDP growth is projected to remain sluggish at 1.1% in 2024, with a moderate growth of 1.7% anticipated in 2025 as the global economy improves and Swiss exports gain momentum. However, there are both downside and upside risks associated as geopolitical tensions could lead to surging commodity prices and prolonged restrictive international monetary policies may suppress global demand. On the upside, there's potential for a quicker economic rebound if international inflation declines, which will boost consumer purchasing power and ease financial policies worldwide. Inflation in Switzerland is forecasted to be 1.5% in 2024 and 1.1% in 2025, indicating a normalization trend in the Swiss economy. Overall, the Swiss economy is slowing from its historical performance, but still maintaining relatively solid growth compared to other European economies.
Key Players in the Swiss Economy
Some of the biggest companies in the Swiss economy include Nestlé S.A. (SWX:NESN), Roche Holding AG (SWX:ROG), and Novartis AG (SWX:NOVN).
Established in 1866, Nestlé S.A. (SWX:NESN) remains a globally recognized household name, with its food and beverage products available in over 188 countries. On February 22, the company reported its annual results for the year 2023, revealing a slight decrease in sales from $106.04 billion in 2022 to $104.43 billion in 2023. North America continued to be the largest sales contributor, with $29.56 billion. Only Latin America showed growth in sales, increasing to $13.69 billion in 2023 from $13.35 billion in 2022. Nestlé S.A. (SWX:NESN) aims to eliminate packaging waste by enhancing recyclability and supporting waste management. On March 18, Nestlé revealed that 83.5% of its total plastic packaging used globally was recyclable and 41.5% of it was made from recycled material in 2023. Nestlé S.A. (SWX:NESN) has partnered on 220 initiatives with governments and industry leaders around the world to improve recycling infrastructure and recently announced to invest $8.96 million in a new recycling plant in Durham, UK, which is set to open by the end of 2024.
Roche Holding AG (SWX:ROG) ranks among the world's biggest healthcare companies focusing on pharmaceuticals and diagnostics, offering a diverse range of products and services in the field of therapeutics. On January 29, Roche Holding AG (SWX:ROG) reported sales of $66.30 billion in 2023, down from $71.46 billion from the previous year. On March 20, Roche Holding AG (SWX:ROG) announced the sale of its Genentech manufacturing facility in Vacaville, United States, to Lonza Group AG (SWX:LONN) for $1.2 billion. Roche Holding AG (SWX:ROG) has decided to sell its Vacaville site as part of its long-term plan to optimize its network strategy and diversify its portfolio with new types of drugs. The agreement entails that approximately 750 Genentech employees working at the Vacaville facility will be offered employment by Lonza Group AG (SWX:LONN) and the products currently produced at the site by Roche Holding AG (SWX:ROG) will continue to be supplied by Lonza Group AG (SWX:LONN) for a transition period. Commenting on the deal, Roche Holding AG’s Global Head of Pharma Technical Operations Susanne Hundsbaek Pedersen, said:
“We decided to divest our Vacaville site as part of our long-term network strategy and optimisation plan, to deliver a more diversified portfolio including new drug modalities. Having gone through a competitive diligence process with multiple potential strategic partners for the facility, we believe that Lonza is the ideal owner for the Vacaville site to continue producing innovative medicines for patients in need. We are particularly pleased that the employees at the site will be offered employment by Lonza.”
On March 27, Roche Holding AG (SWX:ROG) announced that it got FDA approval for the “Cobas” the first molecular test to screen U.S. blood donors for malaria. Malaria is a serious and potentially fatal infection commonly transmitted by mosquitoes, but can also be spread through blood transfusion. The approval of this test marks a significant advancement in malaria detection, offering a reliable tool for donor screening. It aims to improve both blood safety and availability by aiding healthcare professionals in identifying and removing infected blood units from the blood supply. The Cobas Malaria test is a qualitative in vitro nucleic acid screening test designed for use on the Cobas 6800/8800 Systems. It allows for the direct detection of Plasmodium RNA and DNA in whole blood samples from individual human donors.
Novartis AG (SWX:NOVN) stands as one of the biggest pharmaceutical companies in the world. For the financial year ending on January 31, 2024, Novartis AG (SWX:NOVN) reported that its net sales surged by 8% to $45.44 billion from $42.20 billion in 2022, primarily fueled by an increase in sales volume. In October 2023, Novartis AG (SWX:NOVN) completed the spin-off of Sandoz Group AG (SWX:SDZ), to achieve tax neutrality for Swiss withholding tax purposes. Therefore, Novartis reported a significant boost in net income, reaching $14.85 billion for 2023 compared to $6.95 billion in 2022. On March 22, Novartis AG (SWX:NOVN) announced that its drug “Fabhalta” got a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA). If approved, Fabhalta will be the first oral monotherapy available in Europe for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a rare and chronic blood disorder. The opinion was based on Phase III data, including the APPLY-PNH study, which demonstrated superior hemoglobin improvement with Fabhalta compared to anti-C5 therapy. Despite treatment with anti-C5 therapy, many PNH patients remain anemic, fatigued, and dependent on blood transfusions. Fabhalta offers a potential breakthrough by providing superior hemoglobin improvement without the need for transfusions, potentially normalizing hemoglobin levels in the majority of patients. Although the final decision from the European Commission is still pending.
The pace of growth is slowing in the Swiss economy and companies are facing a decrease in sales. Switzerland's business environment and innovative industries suggest that opportunities for sustainable growth and prosperity persist. With that said, here are the 15 biggest Swiss companies.
15 Biggest Swiss Companies
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Our Methodology
To make our list of the 15 biggest Swiss companies, we went over several sources including industry reports, our own rankings, and multiple similar rankings. We also scanned the Finviz and Yahoo Finance stock screeners. For public companies, we checked each company's market capitalization, as of March 21, on Yahoo Finance. The market caps for companies were converted to US dollars based on the exchange rates. To quantify the "value" or "size" of private companies, we selected either the estimated valuation, or the annual revenue available for the most recent fiscal year, or the number of employees, subject to availability of data. The estimated valuation was sourced from major media reports based on the private companies' latest funding round. The annual revenue or number of employees was sourced from official statements by the company and the company's website. We have ranked the 15 biggest Swiss companies in ascending order of their market capitalization or alternative metrics for private companies.
15 Biggest Swiss Companies
15. Kuehne + Nagel International AG (SWX:KNIN)
Market Cap: $32.67 billion
Kuehne + Nagel International AG (SWX:KNIN) is one of the biggest shipping companies in the world. Kuehne + Nagel International AG (SWX:KNIN) offers a variety of services including sea freight, air freight, road and rail logistics, insurance, warehouse management, and distribution solutions. The company is worth $32.67 billion, as of March 21.
14. Swiss Re AG (SWX:SREN)
Market Cap: $37.84 billion
Swiss Re AG (SWX:SREN) is a leading reinsurance company, providing risk transfer, risk financing, and asset management solutions to insurers around the world. The company helps clients mitigate and manage complex risks. As of March 21, Swiss Re AG (SWX:SREN) is worth $37.84 billion on the open market.
13. Alcon Inc. (SWX:ALC)
Market Cap: $41.67 billion
Alcon Inc. (SWX:ALC) is one of the biggest medical companies in the world, specializing in eye care products and devices. The company offers a wide range of vision care solutions, including surgical equipment, contact lenses, and pharmaceuticals dedicated to the eye care industry. As of March 21, Alcon Inc. (SWX:ALC) is worth $41.67 billion.
12. Givaudan SA (SWX:GIVN)
Market Cap: $42.74 billion
Givaudan SA (SWX:GIVN) is a flavors and fragrances company headquartered in Switzerland. Givaudan SA (SWX:GIVN) collaborates with companies and customers across various industries to develop unique flavors and fragrances that delight consumers globally. Givaudan SA (SWX:GIVN) is one of the biggest Swiss companies and is worth $42.74 billion, as of March 21.
11. Lonza Group AG (SWX:LONN)
Market Cap: $42.75 billion
Lonza Group AG (SWX:LONN) is one of the biggest pharmaceutical companies in the world that operates in biotech, and nutrition markets. The company serves as a partner to healthcare companies, assisting in the development, manufacturing, and commercialization of medical treatments for various diseases. Lonza Group AG (SWX:LONN) has a market value of $42.75 billion as of March 21.
10. Sika AG (SWX:SIKA)
Market Cap: $48.34 billion
Sika AG (SWX:SIKA) is one biggest Swiss chemical companies in the world, focusing on construction and industrial applications. Sika AG (SWX:SIKA) provides innovative solutions for sealing, bonding, damping, reinforcing, and protecting structures in building projects worldwide. As of March 21, The company has a valuation of $48.34 billion.
9. Holcim AG (SWX:HOLN)
Market Cap: $50.1 billion
Holcim AG (SWX:HOLN) is one of the biggest Swiss building materials companies, specializing in Cement, Aggregates, and Ready-Mix Concrete. Holcim AG (SWX:HOLN) operates in over 70 countries worldwide and plays a vital role in construction. Holcim AG (SWX:HOLN) is valued at $50.1 billion as of March 21.
8. Zurich Insurance Group AG (SWX:ZURN)
Market Cap: $79.37 billion
Zurich Insurance Group AG (SWX:ZURN) is one of the biggest insurance companies in the world. Zurich Insurance Group AG (SWX:ZURN) operates in over 200 countries and also offers agriculture and crop insurance to farmers. The company stands as a prominent Swiss entity, with a market value of $79.37 billion as of March 21.
7. ABB Ltd (SWX:ABBN)
Market Cap: $87.59 billion
ABB Ltd (SWX:ABBN) is one the biggest multinational corporations specializing in robotics and automation technology. The company provides solutions for utilities, industries, and transport sectors to enhance efficiency, reliability, and sustainability in various applications. ABB Ltd (SWX:ABBN) has a value of $87.59 billion as of March 21.
6. Compagnie Financière Richemont SA (SWX:CFR)
Market Cap: $90.75 billion
Compagnie Financière Richemont SA (SWX:CFR) is one biggest luxury goods companies that operates in the jewelry, watches, fashion, and accessories market. Compagnie Financière Richemont SA (SWX:CFR) owns several brands such as Cartier, Montblanc, and Van Cleef & Arpels. As of March 21, Compagnie Financière Richemont SA (SWX:CFR) is valued at $90.75 billion.
