1. Nordea Bank, 2. Neste, 3. Nokia, 4. KONE, 5. Sampo, 6. UPM-Kymmene, 7. Fortum, 8. Stora Enso, 9. Elisa, 10. Metso Outotec (Mo Group). Finland is a country known for its innovation, technology, and high standard of living. Its economy is driven by several large companies across different sectors. In this article, we will explore the largest companies in Finland.
A European financial services company with operations throughout northern Europe, Nordea Bank Abp, also known as Nordea, is headquartered in Helsinki, Finland. The word “Nordic” and “idea” are combined to form the name. The bank was formed as a result of a series of mergers and acquisitions between 1997 and 2001 involving Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse, which had branches in Finland, Sweden, Denmark, and Norway. Given that Nordea completed the divestiture of its Baltic businesses in 2019, the Nordic countries are regarded as the company’s home market. Helsinki, Copenhagen, and Stockholm’s Nasdaq Nordic exchanges list Nordea, and the US market lists Nordea ADR.
Nordea has 9.3 million private consumers and 530,000 active corporate clients, including 2,650 significant corporations and organizations. The loan portfolio of Nordea is split between Finland (21%), Denmark (26%), Norway (21%), and Sweden (30%). Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management are Nordea’s four Business Areas (BAs). In December 2021, assets under management (AUM) totaled €411 billion.
One of the major banks in Europe, Nordea is the largest financial services organization in the Nordic region. It is a full-service universal bank and the third-largest company in the Nordic region. Based on market capitalization, it is also among the top 10 financial services corporations in Europe. In addition to its four home markets in the Nordic region, which combined make up the tenth-largest economy in the world, Nordea has operations in 17 other nations. They are constantly working to become your future digital bank by enhancing the products and services they provide, such as new online banking platforms, mobile payments, and analytics tools, to mention a few. This is done in response to the growing demand for digital services. Nordea Bank AB (publ) shares can be bought and sold on the Stockholm, Helsinki, and Copenhagen stock exchanges.
Headquarters: Helsinki, Finland
Photo on Wikimedia Commons (https://upload.wikimedia.org/wikipedia/commons/3/3b/0661_Nordea_Helsinki.JPG)
Neste is the world’s leading producer of sustainable aviation fuel, renewable diesel, and renewable feedstock solutions for the polymer and chemical industries. They are also developing chemical recycling methods and capacities to address the problem of plastic waste. Their goal is to make Finland’s Porvoo refinery the most sustainable in Europe by 2030, and to achieve carbon neutral production by 2035. As refinery raw materials, they are introducing renewable and recycled raw materials such as liquefied waste plastic.
Neste’s revenue was EUR 25.7 billion in 2022, while its comparable EBITDA was EUR 3,537 million. In 2022, Neste had an average workforce of 5,244 people. With a present annual nameplate capacity of over 3.3 million tons, Neste produces renewable goods in its refineries in Finland, the Netherlands, and Singapore solely from renewable raw resources. By the end of 2023, Neste will be able to produce 5.5 million tons of renewable goods thanks to the growth of its refinery in Singapore and our joint venture Martinez Renewables in Martinez, California, with Marathon Petroleum.
Neste’s goal is to be a world leader in renewable and circular solutions. They have pledged to assisting our clients in reducing their annual greenhouse gas emissions by at least 20 million tons of CO2e by 2030.
Innovation is the foundation of Neste. In the beginning, it meant producing premium gasoline from low-grade petroleum. Today, its innovation teams scour the bio and circular economy for innovative raw materials and solutions, thoroughly testing their viability for industrial scale manufacturing. These multidisciplinary teams include researchers, technicians, engineers, business developers, and intellectual property (IP) specialists. The shared goal is to find the quickest paths to a healthy planet.
Headquarters: Espoo, Uusimaa
Photo on Flickr (https://live.staticflickr.com/65535/49148636516_782e633f00_b.jpg)
Established in 1865, Nokia Corporation often known as Nokia is a multinational corporation that specializes in consumer electronics, information technology, and telecommunications. The main offices of Nokia are located in Espoo, Finland, which is part of the Helsinki metropolitan area, while the Pirkanmaa district of Tampere is where the firm was founded. Around 92,000 people were employed by Nokia in over 100 countries in 2020, and the company conducted business in over 130 nations, with annual revenues of about €23 billion. The Helsinki Stock Exchange and the New York Stock Exchange both list Nokia as a public limited corporation. It peaked at 85th place in 2009 and is currently the 415th-largest company in the world by 2016 revenues, according to the Fortune Global 500. It is a part of the stock market index known as the Euro Stoxx 50.
Over the last 150 years, the organization has worked in a variety of industries. It was formed as a pulp mill and has long been connected with rubber and cables, but it has focused on large-scale telecommunications infrastructure, technology development, and licensing since the 1990s. Nokia made important contributions to the mobile telecommunications market, helping to develop the GSM, 3G, and LTE standards. Nokia was the biggest global vendor of mobile phones and smartphones for a decade beginning in 1998. However, in the late 2000s, Nokia suffered from a succession of disastrous management mistakes, and its share of the mobile phone market fell precipitously.
Finns viewed the corporation with national pride, as its mobile phone industry made it by far the largest global company and brand from Finland. Nokia accounted up 4% of the country’s GDP, 21% of total exports, and 70% of the Helsinki Stock Exchange market capital at its height in 2000.
Headquarters: Espoo, Finland
Photo on Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Midpoint_Nokia_Karaportti.jpg)
Elevator engineering firm Kone Oyj, which trades as KONE Corporation and is officially stylised as KONE, employs approximately 60,000 people globally in 60 different countries. Its current headquarters are in Espoo, Finland, which is close to Helsinki. It was formed in 1910. The goal of KONE is to enhance the movement of urban life. This entails comprehending urbanization and assisting cities in becoming better and more sustainable places to live, in collaboration with our partners and clients.
KONE, a global leader in the elevator and escalator industry, delivers elevators, escalators, and automatic building doors, as well as maintenance and modernization solutions, to add value to buildings throughout their life cycle. They make people’s trips in taller, smarter buildings safer, more convenient, and reliable by implementing more effective People Flow®. Kone also manufactures and services moving walkways (dubbed “autowalks” by the firm), automatic doors, and gates. Kone is a Finnish word that means “machine.”
The Herlin family has had authority over Kone since 1924. In 1924, Harald Herlin bought the business, and he remained as its chairman up until 1941. Heikki H. Herlin, his son, succeeded him as president from 1941 to 1987. Pekka Herlin joined Kone in 1954 and took over as president of the company in 1964. Its chairman since 2003 is Antti Herlin, Pekka Herlin’s son. Antti Herlin, whose shares are listed on Nasdaq Helsinki, has 62% of the voting rights and 22% of the company’s shares as of December 2019.
Photo on Wikimedia Commons (https://upload.wikimedia.org/wikipedia/commons/e/e0/KONE_Flags.jpg)
The Sampo Group consists of Sampo plc and its affiliates If P&C, Topdanmark, Hastings, and Mandatum. Since 1988, Sampo plc’s A share has been traded on Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange. The parent company of the Sampo Group, Sampo plc, is in charge of the Group’s strategy, capital allocation, investment strategy, risk management, investor relations, sustainability, group accounts, and legal and tax issues.
Sampo Group works in the insurance industry and has employees in a variety of professions, including financial experts, mathematicians, IT developers, investment managers, legal counsel, accountants, and sales consultants. For professionals in a variety of professions and nations, Sampo Group offers a variety of exciting job options.
Sampo Group employs roughly 13,000 people, with If accounting for 54%, Hastings accounting for 23%, Topdanmark accounting for 18%, Mandatum accounting for 4%, and Sampo plc accounting for 0.5%. Geographically, Denmark and the United Kingdom employ 22% of the workforce, while Sweden employs 18%, Finland employs 17%, and Norway employs 12%. Other countries account for 9% of the total.
UPM-Kymmene Oyj is a Finnish forest industry enterprise. In 1996, Kymmene Corporation merged with Repola Oy and its subsidiary United Paper Mills Ltd to establish UPM-Kymmene. UPM’s six business units—UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers, and UPM Plywood—deliver sustainable and innovative solutions for a future without fossil fuels. UPM is dedicated to the UN Business Ambition for 1.5°C and the science-based targets to reduce climate change as the industry leader in responsibility.
The Group employs around 17,000 people and operates manufacturing operations in 12 countries. UPM stock is traded on the NASDAQ OMX Helsinki platform. UPM is the only paper firm on the Dow Jones sustainable Index, and the only forest industry company invited to the United Nations Global Compact LEAD sustainable leadership platform. The Verla mill, which has been a museum since 1972 and a UNESCO World Heritage Site since 1996, is owned and maintained by UPM.
The most recent financial reports from UPM-Kymmene show that the company’s current revenue (TTM) is $12.29 Billion. The company generated $11.41 billion in revenue in 2021, a rise from $9.93 billion in revenue in 2020. UPM-Kymmene’s market cap was $17.89 billion as of April 2023. By market cap, this places UPM-Kymmene as the 924th most valuable company in the world.
Screenshot of www.upm.com
UPM – The Biofore Company
Fortum Oyj is a Finnish state-owned energy corporation headquartered in Espoo. It is primarily concerned with the Nordic region. Fortum owns and operates power facilities, including cogeneration plants, as well as generates and sells energy and heat. The company also sells trash services such as recycling, reutilisation, and final disposal solutions, as well as soil remediation and environmental construction services, as well as other energy-related services and goods such as power plant consultancy and electric vehicle charging. Fortum is a publicly traded company on the NASDAQ OMX Helsinki platform.
According to revenue, Fortum was the largest corporation in Finland in 2020. The source of the majority of its revenue was Uniper, which joined Fortum as a subsidiary in March 2020. Germany purchased the nationalization of Uniper on September 21, 2022, for 8 billion euros. Fortum is the second-largest nuclear power generator in Europe, the third-largest producer of carbon-free electricity, and one of the major gas suppliers.
Fortum’s mission is to power a future in which people, businesses, and nature coexist. It is one of Europe’s cleanest energy producers, and its actions are guided by ambitious environmental goals. They dependably generate and provide sustainable energy, assisting companies in decarbonizing their operations and growing. In the Nordics, their key operations include efficient, CO2-free power generation as well as reliable supply of energy and district heat to individual and corporate customers. Fortum pledges to provide a safe and inspiring workplace for its nearly 5000 employees.
Headquarters: Espoo, Uusimaa, Finland
Photo on Wikimedia Commons (https://upload.wikimedia.org/wikipedia/commons/6/6c/Fortum_HQ_Keilaniemi_2017.jpg)
Helsinki, Finland is home to Stora Enso Oyj, a maker of pulp, paper, and other forest products. Sales are concentrated in Europe, although there are sizable operations in Asia and South America as well. The Swedish mining and forestry products firm Stora AB and the Finnish forestry products company Enso Oyj amalgamated to establish Stora Enso in 1998. Over 23,000 people were employed on average in 2021.
Stora Enso was rated seventh in the world in terms of revenue and fourth in terms of profitability among forest, paper, and packaging industry firms in 2015. For the first two quarters of 2018, the company ranked second in the European forest and paper industry in terms of net earnings. The company’s origins may be traced back to the world’s oldest known preserved share certificate, issued in 1288. According to some observers, Stora Enso is the world’s oldest limited liability firm.
Stora Enso is a leading manufacturer of renewable products in packaging, biomaterials, wooden construction, and paper, and one of the world’s largest private forest owners. Stora Enso believes that anything manufactured today from fossil-based resources can be made tomorrow from a tree. Their strategy incorporates sustainability and good business practices.
Photo on Wikimedia Commons (https://upload.wikimedia.org/wikipedia/commons/c/c0/Stora_Enso_headquarters.jpg)
Elisa Oyj, sometimes known as Elisa Corporation in English, is a Finnish telecommunications corporation that was established in 1882. Prior to July 2000, it went under the names Helsingin Puhelin and Elisa Communications Oyj, respectively. Elisa is a Finnish and Estonian-based provider of telecoms, information and communications technology, and online services. However, it also provides digital services to other businesses and foreign operators. In terms of subscriptions to fixed and mobile networks in Finland, Elisa is the market leader. Elisa offers tools for enhancing organizational productivity and operating procedures as well as communication and leisure services. For instance, it collaborates with Tele2 and Vodafone.
Under the Elisa and Elisa Saunalahti brands, Elisa provides fixed and mobile subscriptions, as well as broadband subscriptions and cable-tv subscriptions. Elisa’s digital services are available globally under the Elisa Polystar and Elisa IndustrIQ brands. Elisa Kirja is an ebook service, and Elisa Viihde is a Finnish drama producer. Elisa is traded on the Nasdaq Helsinki. In terms of revenue, it was the third largest IT business in Finland in 2021.
They are offering answers through digitalization for issues that are crucial to individuals and for sustainable development. They have always been enthusiastic in utilizing new technologies and methods of working throughout its 140-year history. Elisa currently provides services to over 2.8 million subscribers in Finland, Estonia, and other countries while working daily to enhance customer satisfaction and quality. More than 5,600 individuals work for Elisa in more than 20 countries in a range of roles, including application developers, salespeople, designers, analysts, network infrastructure designers and builders, as well as business and customer service specialists.
Elisa has established itself as one of Europe’s top companies for equality. Flexible work arrangements are part of the Elisa Ideal Work idea, and innovation, improvement, and constant learning are ingrained in the company’s culture.
Headquarters: Helsinki, Uusimaa, Finland
Screenshot of elisa.com
Metso Outotec (Mo Group)
Metso Outotec Oyj is a publicly traded Finnish corporation that was formed in 2020 by the merger of Outotec and Metso Minerals. The company is a global leader in sustainable technology, end-to-end solutions, and services for aggregates, minerals processing, and metals refining. Metso Outotec’s product and process expertise helps customers save energy and water, increase productivity, and decrease environmental hazards.
Metso Outotec’s strategic priority is sustainability. Metso Outotec is a modern living and society facilitator, working toward decarbonization and a safer working environment with its customers, communities, suppliers, and other partners. Minerals are required for the global energy shift, and its customer sectors’ energy-intensive operations have major environmental impacts. Customers must meet rising mineral demand while dealing with declining ore grades and tougher sustainability standards. That is why Metso Outotec Oyj develops more sustainable methods of assisting consumers. Additionally, Metso Outotec looks after its own emissions impact. A strategic commitment and roadmaps have been made to achieve the goal of net zero emissions by 2030. They collaborate with vendors and the logistics network to create value chains that are more sustainable. The goal of Metso Outotec is zero harm. Injury prevention is relevant to people, products, and services. Metso Outotec places a high premium on safety.
Metso Outotec aspires to be a top-tier firm with a strong emphasis on digitalization. It delivers data and analytics to assist customers enhance their equipment and operations. Metso Outotec intends to provide a digital client journey throughout the lifecycle of their equipment. Metso Outotec, for example, has a digital channel for aggregates distributors and direct end customers to easily acquire spare and wear components. Metso Outotec has an innovative IoT solution for mining companies that predicts maintenance needs and optimizes the process to enhance uptime and improve safety.
Screenshot of www.mogroup.com