Norway, a country known for its breathtaking fjords, rich cultural heritage, and robust economy, is home to some of the most prominent companies in the world. Despite its relatively small population, Norway has nurtured a diverse range of industries, from energy and shipping to telecommunications and finance. The country's business landscape is characterized by a blend of state ownership and private enterprises, with a strong emphasis on sustainability, innovation, and global competitiveness. Ever wanted to know what are the top ten biggest companies in Norway? Well so did we so lets begin and start analyzing their market share, profitability, revenue, workforce, leadership, services, products, historical background, and future growth projections for 2025.
1. Equinor ASA
Equinor ASA, formerly known as Statoil, stands as Norway's largest company and one of the world's most significant players in the energy sector. Established in 1972 as a state-owned entity, Equinor was initially focused on developing Norway's offshore oil resources. Over the decades, the company expanded its operations globally, transitioning from a pure oil company to a diversified energy corporation with a strong emphasis on renewable energy. As of 2023, Equinor holds a dominant market share in Norway's energy sector, with annual revenues exceeding $100 billion.
The company's leadership is spearheaded by CEO Anders Opedal, who has been pivotal in driving Equinor's shift towards sustainability. Under his leadership, the company has set ambitious targets to reduce carbon emissions and increase investments in renewable energy sources, including wind and solar power. Equinor's workforce comprises over 20,000 employees globally, with a significant portion based in Norway.
Equinor's product portfolio includes oil, natural gas, and renewable energy solutions, with services ranging from exploration and production to energy trading and carbon capture technologies. The company's history is deeply intertwined with Norway's economic development, playing a crucial role in transforming the nation into a wealthy and energy-independent country.
Looking ahead to 2025, Equinor is poised for substantial growth in the renewable energy sector, with plans to further diversify its energy mix. The company's future growth projections include expanding its offshore wind capacity, investing in hydrogen technology, and enhancing its carbon capture and storage capabilities. With Norway's government continuing to support green energy initiatives, Equinor is expected to maintain its leadership position while driving the global energy transition.
Telenor Group, a global telecommunications giant, is one of Norway's most prominent companies, with a significant market share in both domestic and international markets. Founded in 1855 as a state-owned telegraph company, Telenor has evolved into a leading provider of mobile and broadband services, with operations in multiple countries across Europe and Asia. The company's annual revenue surpasses $12 billion, with a net profit of approximately $1 billion.
Led by CEO Sigve Brekke, Telenor's leadership has focused on innovation, digital transformation, and expanding its presence in emerging markets. The company employs around 20,000 people worldwide, with a workforce that is increasingly diverse and tech-savvy. Telenor's product offerings include mobile services, broadband, TV, and digital solutions for businesses and consumers alike.
Historically, Telenor played a crucial role in the development of Norway's telecommunications infrastructure, contributing to the country's reputation as a leader in digital connectivity. Over the years, Telenor has adapted to the rapidly changing telecommunications landscape, embracing new technologies such as 5G, Internet of Things (IoT), and artificial intelligence (AI).
As Telenor looks towards 2025, the company is set to capitalize on the growing demand for digital services and connectivity solutions. Future growth projections include expanding its 5G network, enhancing cybersecurity offerings, and exploring opportunities in the digital healthcare and fintech sectors. Telenor's commitment to sustainability and social responsibility is expected to further strengthen its position as a leading global telecom provider.
3. DNB ASA
DNB ASA, Norway's largest financial services group, has a commanding presence in the country's banking and insurance sectors. Established in 1822, DNB has grown to become a cornerstone of Norway's financial system, providing a wide range of services, including retail banking, corporate banking, asset management, and insurance. The company generates annual revenues of over $8 billion, with a net profit exceeding $2 billion.
Under the leadership of CEO Kjerstin Braathen, DNB has focused on digitalization, customer experience, and sustainable finance. The company employs approximately 9,000 people, with a strong emphasis on fostering a diverse and inclusive work environment. DNB's product offerings include loans, savings accounts, payment solutions, investment products, and insurance policies, catering to both individual and corporate clients.
DNB's history is marked by a series of mergers and acquisitions, which have enabled the company to expand its market share and diversify its services. As one of the largest banks in the Nordic region, DNB has played a pivotal role in financing Norway's economic development, particularly in sectors such as energy, shipping, and real estate.
Looking forward to 2025, DNB aims to strengthen its position as a leader in sustainable finance, with plans to increase its green lending portfolio and support the transition to a low-carbon economy. The bank is also investing in digital innovation, including the development of new fintech solutions and the expansion of its digital banking services. As Norway continues to embrace digitalization and sustainability, DNB is well-positioned to capture new growth opportunities while maintaining its leadership in the financial sector.
Norsk Hydro ASA, one of the world's largest aluminum companies, is a key player in Norway's industrial landscape. Founded in 1905, Norsk Hydro initially focused on producing fertilizers but later transitioned to aluminum production, becoming a global leader in the industry. The company's annual revenue exceeds $15 billion, with a net profit of over $1 billion.
CEO Hilde Merete Aasheim leads Norsk Hydro, steering the company towards greater sustainability and innovation. The company employs around 30,000 people worldwide, with a significant portion of its workforce based in Norway. Norsk Hydro's product portfolio includes primary aluminum, rolled products, and extruded solutions, with applications across various industries, including automotive, construction, and packaging.
Norsk Hydro's history is deeply rooted in Norway's industrialization, with the company playing a vital role in developing the country's energy-intensive industries. Over the years, Norsk Hydro has adapted to changing market conditions, investing in technology and sustainability to maintain its competitive edge.
As Norsk Hydro looks ahead to 2025, the company is focused on reducing its carbon footprint and enhancing its circular economy initiatives. Future growth projections include expanding its recycling capabilities, increasing the use of renewable energy in its production processes, and developing new aluminum alloys with improved sustainability credentials. With a growing global demand for lightweight, sustainable materials, Norsk Hydro is well-positioned to capitalize on new market opportunities while contributing to a more sustainable future.
Yara International ASA, a global leader in crop nutrition, is one of Norway's most prominent companies, with a significant presence in the agricultural sector. Founded in 1905 as Norsk Hydro's fertilizer division, Yara became an independent company in 2004, focusing on providing sustainable solutions for agriculture. The company's annual revenue exceeds $15 billion, with a net profit of over $1 billion.
CEO Svein Tore Holsether leads Yara International, emphasizing sustainability, innovation, and digital transformation. The company employs around 16,000 people globally, with a strong commitment to diversity and inclusion. Yara's product offerings include fertilizers, crop nutrition programs, and digital farming solutions, helping farmers increase their yields and reduce their environmental impact.
Yara's history is closely tied to Norway's industrial development, with the company playing a crucial role in addressing global food security challenges. Over the years, Yara has expanded its operations worldwide, becoming a trusted partner for farmers in over 150 countries.
Looking towards 2025, Yara International is set to strengthen its position as a leader in sustainable agriculture, with plans to increase its investments in digital farming technologies and low-carbon fertilizers. The company is also focused on expanding its partnerships with stakeholders across the agricultural value chain, from farmers to retailers, to promote sustainable farming practices. As the world grapples with climate change and food security issues, Yara is poised for continued growth and innovation in the years ahead.
Annual Revenue of Norway's Top 10 Companies
6. Aker BP ASA
Aker BP ASA, one of Norway's leading oil and gas companies, is a key player in the country's energy sector. Formed in 2016 through the merger of Det Norske Oljeselskap and BP Norge, Aker BP has rapidly established itself as a significant force in the exploration and production of hydrocarbons on the Norwegian Continental Shelf. The company's annual revenue exceeds $8 billion, with a net profit of over $2 billion.
Led by CEO Karl Johnny Hersvik, Aker BP's leadership has focused on operational efficiency, technological innovation, and sustainable growth. The company employs around 2,000 people, with a strong emphasis on safety, environmental stewardship, and collaboration with partners across the energy value chain.
Aker BP's product portfolio includes crude oil and natural gas, with a focus on high-margin assets in Norway. The company's history is relatively short, but it has quickly gained a reputation for being a dynamic and agile player in the energy industry.
As Aker BP looks ahead to 2025, the company is focused on optimizing its existing portfolio, developing new fields, and reducing its carbon footprint. Future growth projections include increasing production efficiency, investing in digital technologies, and exploring opportunities in carbon capture and storage. With the global energy transition underway, Aker BP is positioning itself to thrive in a low-carbon future while continuing to meet the world's energy needs.
7. Orkla ASA
Orkla ASA, a leading supplier of branded consumer goods, is one of Norway's largest and most diversified companies. Founded in 1654 as a mining company, Orkla has evolved into a conglomerate with operations in food, confectionery, snacks, personal care, and home products. The company's annual revenue exceeds $5 billion, with a net profit of around $500 million.
Under the leadership of CEO Nils K. Selte, Orkla has focused on innovation, sustainability, and expanding its product portfolio. The company employs approximately 18,000 people, with a strong presence in the Nordic region and growing operations in Europe and Asia. Orkla's product offerings include well-known brands such as Grandiosa, Möller's, and Jordan, catering to a wide range of consumer needs.
Orkla's history is a testament to its ability to adapt and thrive in changing market conditions. From its origins in mining to its current status as a consumer goods powerhouse, Orkla has consistently evolved its business model to stay competitive and relevant.
Looking towards 2025, Orkla is focused on strengthening its position as a leader in sustainable consumer goods. Future growth projections include expanding its organic and plant-based product lines, increasing its investments in digitalization, and exploring new markets in Asia and Africa. As consumers become more health-conscious and environmentally aware, Orkla is well-positioned to capture new growth opportunities while maintaining its leadership in the consumer goods sector.
Norsk Tipping AS, Norway's state-owned gambling company, is one of the largest contributors to the country's sports and cultural sectors. Established in 1948, Norsk Tipping operates a wide range of lottery, sports betting, and gaming products, generating annual revenues of over $3 billion, with profits directed towards social causes.
CEO Thor Gjermund Eriksen leads Norsk Tipping, with a focus on responsible gaming, innovation, and customer experience. The company employs around 400 people, with a strong emphasis on integrity, transparency, and social responsibility. Norsk Tipping's product offerings include Lotto, Vikinglotto, Eurojackpot, and various sports betting options, catering to a broad customer base across Norway.
Norsk Tipping's history is closely linked to Norway's social welfare system, with the company playing a crucial role in funding sports, culture, and humanitarian initiatives. Over the years, Norsk Tipping has adapted to changing market conditions, embracing digitalization and expanding its product portfolio to meet the evolving needs of its customers.
As Norsk Tipping looks ahead to 2025, the company is focused on enhancing its digital platforms, expanding its responsible gaming initiatives, and exploring new product opportunities. Future growth projections include increasing its market share in the digital gaming space, developing new sports betting products, and strengthening its partnerships with sports and cultural organizations. As Norway's gambling landscape continues to evolve, Norsk Tipping is well-positioned to maintain its leadership while contributing to the country's social welfare.
Storebrand ASA, one of Norway's leading providers of insurance and pension products, has a significant presence in the Nordic financial services market. Founded in 1767, Storebrand has a long history of serving both individual and corporate clients with a wide range of financial solutions, including life insurance, health insurance, pensions, and asset management. The company's annual revenue exceeds $7 billion, with a net profit of over $1 billion.
CEO Odd Arild Grefstad leads Storebrand, emphasizing sustainability, customer-centricity, and innovation. The company employs around 1,700 people, with a strong focus on digitalization and customer experience. Storebrand's product offerings include retirement savings plans, life insurance policies, and investment management services, catering to the diverse needs of its clients.
Storebrand's history is marked by a commitment to financial stability and social responsibility, with the company playing a key role in shaping Norway's pension system. Over the years, Storebrand has adapted to changing market conditions, embracing digitalization and sustainability as core pillars of its strategy.
As Storebrand looks towards 2025, the company is focused on expanding its sustainable investment offerings, enhancing its digital platforms, and increasing its market share in the Nordic region. Future growth projections include developing new products tailored to the needs of an aging population, exploring opportunities in impact investing, and strengthening its partnerships with stakeholders across the financial ecosystem. As Norway's financial services market continues to evolve, Storebrand is well-positioned to lead the way in sustainable finance and customer-centric innovation.
Kongsberg Gruppen ASA, commonly known as Kongsberg, is one of Norway's largest and most technologically advanced companies, specializing in defense, aerospace, and maritime solutions. Founded in 1814, Kongsberg has a long history of innovation and engineering excellence, providing cutting-edge solutions to clients worldwide. The company's annual revenue exceeds $3 billion, with a net profit of over $300 million.
Under the leadership of CEO Geir Håøy, Kongsberg has focused on expanding its global presence, investing in research and development, and driving innovation across its product lines. The company employs around 11,000 people, with a workforce that includes some of the most skilled engineers and technologists in the industry. Kongsberg's product offerings include advanced defense systems, autonomous vehicles, and maritime solutions, serving clients in both the public and private sectors.
Kongsberg's history is a testament to its ability to adapt and thrive in a rapidly changing technological landscape. From its origins as a weapons manufacturer to its current status as a global technology leader, Kongsberg has consistently pushed the boundaries of innovation.
Looking ahead to 2025, Kongsberg is focused on expanding its capabilities in autonomous systems, cyber defense, and digitalization. Future growth projections include increasing its market share in the defense and aerospace sectors, developing new maritime technologies, and exploring opportunities in emerging markets. As the demand for advanced defense and maritime solutions continues to grow, Kongsberg is well-positioned to lead the way in technological innovation and global competitiveness.
Wrap Up
The top ten biggest companies in Norway represent a diverse range of industries, from energy and telecommunications to finance, consumer goods, and technology. These companies have played a crucial role in shaping Norway's economic landscape, driving innovation, and contributing to the country's global competitiveness. As they look towards 2025, these companies are focused on sustainability, digitalization, and expanding their global presence, positioning themselves for continued growth and success in the years ahead. Whether it's Equinor's leadership in the energy transition, Telenor's expansion into digital services, or Kongsberg's advancements in defense technology, these companies are set to play a pivotal role in shaping the future of Norway and the world.
