European companies on the Fortune 500 list saw combined revenues rise 4% to a record $15.5 trillion and profits climb 3% to $1 trillion. However, on a constant currency basis, revenue growth was below 1% and net profits actually declined. By contrast, U.S. Fortune 500 companies reported a 12.4% increase in profits and 5.4% growth in revenue. This growth challenge was the central theme of the Fortune CEO Forum held in London on September 16. Business leaders identified several levers: reforming the regulatory framework, fostering innovation and retaining talent, reducing energy costs, adopting artificial intelligence, and focusing on the continent’s strong sectors such as life sciences, healthcare, and aerospace and defense.
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