Title page 1

Contents 1

EXECUTIVE SUMMARY 2

1. MULTINATIONALS AND EUROPE'S COMPETITIVENESS 6

2. EUROPE'S MULTINATIONAL BACKBONE AND THE GLOBAL SCALE OF THE 100 LEADERS 9

2.1. Global Revenue 10

2.2. Global R&D Intensities 12

2.3. Global Investments 15

3. LEADERS' ECONOMIC FOOTPRINT IN EUROPE 17

3.1. Revenue Footprint in Europe 17

3.2. Employment Footprint in Europe 21

3.3. Investment Footprint in Europe 26

3.4. European Value Chain Integration 27

4. SOCIAL AND ENVIRONMENTAL FOOTPRINT 33

5. CONCLUSIONS - ANCHORING COMPETITIVENESS IN EUROPE'S CORPORATE FOOTPRINT 39

ANNEX I - METHODOLOGY, SCOPE AND DATA INTEGRITY 43

Tables 14

TABLE 1. AVERAGE R&D INTENSITIES BY SECTOR AND COUNTRY OF HEADQUARTER (EUROPE, NON-EUROPE), 2024 14

TABLE 2. GLOBAL CAPEX BY SECTOR AND COUNTRY, 2024, IN USD BILLION 16

TABLE 3. COMPANY-LEVEL REVENUE IN EUROPEAN ECONOMIES, 2024, IN EUR, BILLION 18

TABLE 4. COMPANY-LEVEL EMPLOYMENT IN EUROPE, 2024 22

TABLE 5. REPORTED INVESTMENTS AND ASSETS IN EUROPE (PROPERTY, EQUIPMENT, SEGMENT ASSETS) 26

TABLE 6. OVERVIEW OF CUSTOMERS OR SELLING PARTNERS (B2B AND B2C), TOP 20 COMPANIES BY EUROPEAN REVENUE 29

TABLE 7. OVERVIEW OF VOLUME OR VALUE OF PRODUCTS SOLD, TOP 20 COMPANIES BY EUROPEAN REVENUE 31

TABLE 8. RENEWABLE ELECTRICITY SHARE BY COMPANY (RANKED BY PERFORMANCE) 36

Figures 11

FIGURE 1. GLOBAL NET REVENUES BY SECTOR AND COUNTRY OF HEADQUARTERS (EUROPE, NON-EUROPE), 2024, IN USD MILLION 11

FIGURE 2. TOP 20 COMPANIES WITH HIGHEST R&D INTENSITIES IN 2024 13

FIGURE 3. REVENUE IN EUROPE BY SECTOR AND REGION OF HEADQUARTERS, EUR BILLION, 2024 21

FIGURE 4. EMPLOYMENT IN EUROPE BY SECTOR, 2022-2024, IN THOUSANDS OF EMPLOYEES 25

FIGURE 5. RENEWABLE ELECTRICITY SHARE 38

Boxes 7

BOX 1. ABOUT THIS STUDY AND HOW THE 100 LEADERS WERE SELECTED 7

Annex Tables 46

TABLE A1. COMPANIES COVERED IN THIS STUDY 46

TABLE A2. OVERVIEW OF COMPANIES EXCLUDED FROM LONG LIST 50