2020 marked a milestone in the business world. The pandemic caused havoc that caused, for the first time in almost 50 years, losses in the 500 most important companies in Mexico 2021: the accumulated sales of the companies fell 8.5% in real terms, the same as the Gross Domestic Product (GDP).
But this is not the only novelty. The economic crisis hit Petróleos Mexicanos to such a degree that it lost the first place on the list, something never before seen in this ranking prepared by Expansión since 1975. After this fall, Carlos Slim’s firm, América Móvil, managed to position itself as the largest company in the country in terms of sales.
The edition of The 500 most important companies in Mexico 2021 has been the one in which the most companies registered falls, there were 260 companies that suffered the economic crisis caused by COVID-19. This number grew notably compared to the 141 that lost in 2019 and the 76 in 2018, which was the best year for all.
On the other side of the coin are the companies that managed to double their sales, which were 118 out of a universe of 500. These belong to sectors that became essential during the pandemic, such as electronic commerce, funeral services, electrical equipment and mining.
What is the ranking of the 500 most important companies in Mexico?
‘The 500 most important companies in Mexico’, which is 46 years old, is a list of Mexican and foreign companies with operations in the country, the largest -by sales amount- in Mexico.
´This is the list of the 10 most important companies in Mexico. Detailed information on each of the 500 companies that are part of the Expansión ranking, including the history of the last decade, can be found.
1. América Móvil. Although Carlos Slim’s company had stumbles in some markets, it advanced to the top of the ranking and became the most important company in Mexico with sales of 1,016,887 million pesos.
2. Pemex. The state oil company loses its crown after closing 2020 with “the worst crisis in its history”, in the words of Octavio Romero Oropeza, director of the company. With sales of 953,730 million pesos, the firm not only fails to retain the first position in the ranking, but is increasingly moving away from being the company that boosted national finances and led the country to the oil boom in the 1980s. .
3. Walmart de México. The strategy of the supermarket chain to become a more agile business and the boost to its e-commerce is what has allowed it to continue its growth in the country and, in addition, to remain in the top three of the ranking with 701,734 million pesos in sales.
4. CFE. Under the leadership of Manuel Bartlett, the Federal Electricity Commission went from being a regulated company to setting the standards for the electricity sector. This 2021 the recognition of the fourth most important company in Mexico is won, by accumulating 503,636 million pesos in sales.
5. Femsa. During the pandemic, the Monterrey company that generated sales of 492,966 million pesos threw the meat on the grill to digitize some of its services, which allowed it to face the challenges due to the mobility limitations that COVID-19 brought with it.
6. General Motors de México. Despite the fact that the automotive company stopped all its plants in the midst of the pandemic, it achieved 416.5 billion pesos in sales after implementing a car entry strategy with aggressive financing plans. In addition, it was in charge of serving its customers from an early stage of the purchase decision process through a web platform.
7. Grupo Bimbo. The Mexican company, which registered 331.051 million pesos in sales, dodged the ravages of the pandemic in the 33 countries of America, Europe, Asia and Africa where it has a presence.
8. Cemex. The Mexican cement company implemented recovery strategies in 2020 that it had already implemented in previous crises, and expansion plans for the next three years were also launched. This 2021 is part of the top 10 of the 500 most important companies in Mexico with 278,755 million pesos in sales.
9. BBVA Mexico. With 272.105 million pesos in sales, the financial institution occupies the ninth position in the ranking of The 500 most important companies in Mexico 2021, despite the consequences that the pandemic left to the banks.
10. Alpha. 2020 was a tough year for the conglomerate, however it managed to overcome the stumble of COVID-19 and generated sales of 263,867 million pesos.
