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SAP Surpasses Novo Nordisk To Become Europe’s Largest Company

by THEFUTURE.TEAM

March 24, 2025

SAP, the German software company, has officially overtaken Danish pharmaceutical giant Novo Nordisk to become Europe’s largest company by market capitalization. SAP’s market value reached $340 billion, surpassing Novo Nordisk’s $293.06 billion.

Key Factors Behind SAP’s Rise

SAP has experienced significant stock growth, particularly driven by optimism around its cloud business and its investments in generative artificial intelligence (AI). Since the start of 2025, SAP’s shares have risen 7%, and the company has seen a total return of 160% since the end of 2022, substantially outpacing the broader European STOXX 600 index, which rose by only 28%. The company’s increasing focus on cloud technologies and AI solutions for business applications has positioned it as a leader in digital transformation.

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In recent months, strong investor interest has further propelled SAP’s growth, spurred by its expanding cloud services portfolio, AI developments, and strategic partnerships with large international corporations. These factors, alongside improvements to SAP’s ERP systems, have helped the company secure its top position.

Challenges For Novo Nordisk

In contrast, Novo Nordisk, which held the title of Europe’s largest company as recently as September 2023, has seen its stock lag due to disappointing results from its experimental obesity drug, Cagrisema. This has led to a slight decline in its market value, despite its strong performance in the pharmaceutical industry.

What This Means For The Future

The rise of SAP highlights the growing dominance of the technology sector in Europe, with digital transformation and AI solutions becoming key areas of investor focus. While Novo Nordisk is likely to remain a major player in the pharmaceutical industry, SAP’s success suggests that the European technology sector could experience even more growth, particularly with the increasing importance of AI and automation in business.

Looking ahead, competition between tech giants such as SAP and ASML is expected to intensify, marking the beginning of a new era for Europe’s technology-driven economy.

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Cyprus Achieves 23.2% Reduction In Energy Intensity As EU Economies Decouple Growth And Consumption

by THEFUTURE.TEAM

February 13, 2026

Overview

Cyprus has recorded a remarkable 23.2% decrease in net domestic energy use intensity over the past decade, signaling a decisive move toward improved energy efficiency. Eurostat reports that the overall EU economy utilized 56.1 million terajoules of energy in 2023, a 4.1% decline from the previous year, as countries continue efforts to decouple economic growth from energy consumption.

Sector Analysis

Within the EU’s energy landscape, public and private sector activities accounted for 72.3% of total energy use, while households consumed the remaining 27.7%. The manufacturing sector emerged as the largest individual consumer at 14.3 million terajoules, representing 25.5% of overall usage. Meanwhile, sectors related to the supply of electricity, gas, steam, and air conditioning recorded an 8.7% reduction between 2022 and 2023, while manufacturing registered a 5.5% decline. In contrast, the transportation and storage sector posted an 8.1% increase, reflecting shifting demand patterns.

Comparative Performance And Regional Trends

Cyprus’ performance stands out among regional peers. Greece, for example, registered a 19.6% reduction in energy intensity over the same period. Broader EU trends show mixed progress: Estonia and Ireland recorded the fastest declines in energy consumption, while Malta and Lithuania experienced increases. These differences highlight the importance of targeted policies and infrastructure investment in driving efficiency gains.

Conclusion

The sustained drop in energy intensity demonstrates that economies can increase output without proportional rises in energy consumption. This trend supports a broader EU objective of aligning economic growth with sustainable energy practices. Cyprus’ performance sets a strong benchmark for both businesses and policymakers, illustrating the productivity gains that can be achieved through effective energy management.