Vitol overtakes Glencore as biggest company in Switzerland
In 2018 Vitol boasted growth of 26.8% for a total turnover of CHF226 billion
Keystone
Commodity trader Vitol has taken the top spot in the ranking of the largest companies in Switzerland by total turnover, relegating Zug-based Glencore to second place.
This content was published on
2 minutes
Keystone-SDA/jdp
According to the rankingExternal link published in the Handelszeitung on Thursday, in 2018 Vitol boasted growth of 26.8% for a total turnover of CHF226 billion ($231 billion) compared to Glencore’s CHF215 billion.
Commodity traders dominated the ranking with seven out of the top ten companies. Twenty years ago, in 1998, just one commodity group made it into the top tier.
Food and beverage giant Nestlé, which last year generated sales of over CHF91 billion, was the top ranked non-commodity trading company coming in sixth. Ten years ago, Nestlé was the second largest company in terms of turnover.
Pharmaceutical giants Roche (CHF57 billion) and Novartis (CHF51 billion) rounded out the top ten.
The biggest jumps in the ranking were made by Google Switzerland (from 123 to 108), conglomerate Conzzeta (from 130 to 111) and biotech company CSL Behring (from 101 to 87).
Positive year
The ranking shows that 2018 was a positive year for the biggest companies in Switzerland. Some six out of seven companies surveyed showed positive growth, many in double digits. Some 179 companies had turnover in the billions – six more than a year ago.
Despite the growing presence of commodity traders in the top tier of the Swiss economy, their employment impact is much more modest. Vitol has only 5,400 employees globally, compared to 300,000 at Nestlé.
The list, produced by Bisnode D&B Switzerland and Handelszeitung, has been published annually since 1968.
More
More
Big data key for commodity traders’ future
This content was published on
Report forecasts margins to fall further unless industry invests in new technology.
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
A twin of the Milky Way existed in the young cosmos
This content was published on
A billion years after the Big Bang, there was already a spiral galaxy that resembles the Milky Way, according to the James Webb Space Telescope
Trains resume service to Swiss ski resort Zermatt after heavy snowfall
This content was published on
Zermatt can once again be reached by train starting Saturday afternoon. The Alpine holiday resort was inaccessible by land for some time after heavy snowfall last Thursday.
Authorities urge vigilance after heavy snowfall in southern Switzerland
This content was published on
Vigilance remains the order of the day in the southern canton of Valais, despite a stable situation after heavy snow on Thursday, authorities said on Saturday.
Switzerland won’t be spared drug violence: criminal police head
This content was published on
It is only a matter of time before Switzerland, like other countries in Europe, experiences an escalation in drug-related violence, says the head of the Federal Criminal Police.
Handful of Swiss Easter processions take place after inclement weather
This content was published on
Traditional Good Friday processions continue to take place in some municipalities in Switzerland. In Romont, canton Fribourg, for example, the "Pleureuses" marched through the streets.
Great St. Bernard pass between Switzerland and Italy closed due to avalanche
This content was published on
An avalanche forced the closure of the Great St. Bernard pass between Switzerland and Italy on Thursday. The route remains closed to Easter traffic.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Glencore begins the changing of the old guard
This content was published on
The impending retirement of Glencore’s copper kingpin Telis Mistakidis marks the start of a generational shift at the powerful commodity trader.
How do traders ensure due diligence in high-risk countries?
This content was published on
The high number of corruption allegations in the commodities sector raises the question of how traders ensure due diligence in high-risk states.
Swiss-based traders scramble to adapt to sulphur shipping cap
This content was published on
It may not have a maritime coastline, but Switzerland will be on the front line regarding measures intended to make sea-bound transport greener.
This content was published on
Public Eye issued a press release and report on November 10 accusing four Swiss-based commodities traders, including Vitol, of doing business “with dodgy individuals or politically exposed partners” and colluding with the Appleby law firm to conceal “business relationships associated with serious risks of corruption or conflicts of interest”. Vitol also takes issue with the…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.