The Fortune Global 500 is a ranking of the largest companies in the world. The placement depends on the total turnover. The mere placement often doesn’t say much about the success or failure of a company in the past year. Because not every corporation can or wants to play in the league of front runner Walmart in terms of sales.
The comparison with the ranking in the previous year is more meaningful. It shows which companies started to soar in the financial year that ended March 31, 2020. The London-based finance and insurance company Prudential improved by 292 places to 80th place. The Fortune Global 500 also shows which companies have been downgraded as a result of a drop in sales.
These are some of the biggest and most famous losers among the world’s largest corporations.
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# 10 Toshiba
There are numerous well-known names among the 50 biggest relegators of the Fortune Global 500. One of them is Toshiba. The Japanese technology group dropped 31 places to 402th place. According to the business magazine, sales fell by 6.4 percent to 31.2 billion US dollars.
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# 9 Renault
The crisis in the automotive industry is also reflected in Renault’s balance sheet. According to “Fortune”, the French group recorded a minus of 8.3 percent to 62.2 billion dollars and fell by 32 places to 175th place.
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# 8 Canon
Canon went down 35 places. For the world market leader in digital cameras from Japan, it was only enough for 380th place in the Fortune Global 500 in 2020. According to the information, sales fell by 7.9 percent to 33 billion dollars.
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# 7 ZF Friedrichshafen
In 2020, there were many German companies among the 50 largest relegators. The auto supplier ZF Friedrichshafen fell from 338th place to 302nd place. “Fortune” put the sales at 40.9 billion dollars (minus 6.2 percent). Randstad and ThyssenKrupp fell by 33 places each.
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# 6 Deutsche Bank
It got even tougher for Deutsche Bank. It fell in the Fortune Global 500 by 52 places to 291th place. According to the figures, sales fell by eleven percent to $ 41.8 billion.
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# 5 Boeing
Even before the corona pandemic, Boeing was in crisis. In 2019, the aircraft manufacturer had to contend with the consequences of two catastrophic crashes in the 737 Max model, with hundreds of deaths. Boeing fell 53 places to 121st place. According to Fortune, sales fell by 24.3 percent to $ 76.6 billion.
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# 4 Uniper
Uniper also fell 53 places. The German energy supplier fell to 131st place. The reason, according to “Fortune”: a drop in sales of 20.2 percent to 73.7 billion dollars.
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# 3 Honeywell International
Honeywell International was in demand as a manufacturer of N95 masks in 2020. In the financial year up to March 2020, however, the US group could not shine. “Fortune” recorded a drop in sales of 12.2 percent to $ 36.7 billion. Honeywell fell 57 places to 347th.
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# 2 Tata Motors
Tata Motors was the second biggest loser of the year in the Fortune Global 500. The leading automobile manufacturer in India was in 337th place, 72 places lower than in the previous year. Sales fell according to the information by 14.6 percent to 37.2 billion dollars.
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# 1 Centrica
The biggest loser in the Fortune Global 500 was the British utility Centrica. It fell by 129 places to 440th and was just barely on the list of the world’s largest companies. According to “Fortune”, sales fell by 26.9 percent to $ 28.9 billion.