TOP 500: The biggest companies in Latin America.

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A change in methodology

The LT500 ranking of the highest revenue companies in Latin America for 2018 incorporates a change in the way the list is compiled. The new measurement introduced by the LT team of economists no longer includes as separate companies the affiliates and subsidiaries that are 100% controlled by a parent company that already figures in the ranking. This prevents the numbers (revenue/profit/assets) of certain companies from being divided between the parent company and its affiliates.

TOP 500 The biggest companies in Latin America RANK COMPANY, COUNTRY SECTOR 2018 2017 1 1 Petrobras, Brazil Energy 2 2 Pemex, Mexico Energy 3 4 America Movil, Mexico Telecom. 4 3 JBS, Brazil Food 5 5 Vale, Brazil Mining 6 8 Telefonica, Spain (1) Telecom. 7 7 Walmart de Mexico, Mexico Retail 8 9 Grupo Raizen, Brazil Energy 9 6 Petrobras Distribuidora, Energy Brazil 10 10 Grupo Ultra, Brazil Holding 11 16 CFE, Mexico Energy 12 13 Femsa, Mexico Beverages 13 11 AB InBev, Belgium (1) Beverages 14 12 Pet. Ipiranga, Brazil Energy 15 17 Copec, Chile Energy 16 18 Casino, France (1) Retail 17 21 Carrefour, France (1) Retail 18 15 Exito, Colombia Retail 19 19 Ecopetrol, Colombia Energy 20 22 Techint, Argentina Holding 21 20 Cencosud, Chile Retail 22 31 Enel, Italy (1) Energy 23 24 Alfa, Mexico Holding 24 23 Braskem, Brazil Chemical 25 33 Codelco, Chile Mining 26 25 AmBev, Brazil Beverages 27 28 Grupo Bimbo, Mexico Food 28 27 CBD, Brazil Retail 29 30 Falabella, Chile Retail 30 26 YPF, Argentina Energy 31 29 Cemex, Mexico Cement 32 41 Volkswagen, Germany (2) Vehic/parts 33 14 Eletrobras, Brazil Energy 34 32 Gerdau, Brazil Steel 35 36 Cargill Agricola, Brazil Agri. 36 34 BR Foods, Brazil Food 37 43 Grupo Mexico, Mexico Mining 38 49 Temium, Argentina Steel 39 35 Clara Telecom, Brazil Telecom. 40 37 LATAM Airlines, Chile Airlines 41 54 FCA Fiat Chrysler, Italy (1) Vehic/parts 42 51 Enel Americas, Chile Energy 43 38 Nestle, Switzerland (1) Food 44 42 EP Petroecuador, Ecuador Energy 45 39 GN Fenosa, Spain (1) Energy 46 44 Copersucar, Brazil Food 47 45 Bunge, USA (2) Food 48 50 General Motors, USA (3) Vehic/parts 49 40 Dufry AG, Brazil Retail 50 46 Votorantim, Brazil Holding 51 96 Renault, France (1) Vehic/parts 52 62 CPFL, Brazil Energy 53 48 Org. Soriana, Mexico Retail 54 59 Via Varejo, Brazil Retail 55 56 ArcelorMittal, Luxembourg Steel 56 88 Enel, Brazil Energy 57 57 Americas Mining, Mexico Mining 58 130 Iberdrola, Spain (1) Energy 59 52 Pepsico LAF, USA (1) Food 60 47 Oi, Brazil Telecom. 61 55 Dow, USA (1) Chemical 62 94 Area Continental, Mexico Beverages 63 58 Grupo SURA, Colombia Holding 64 80 Heineken, The Beverages Netherlands (4) 65 65 Southern Copper, USA Mining 66 63 Cemig, Brazil Energy 67 70 ENAP, Chile Energy 68 81 Liverpool, Mexico Retail 69 93 Neoenergia, Brazil Energy 70 71 Louis Dreyfus, France (1) Agri. 71 67 Mexichem, Mexico Chemical 72 74 Amil, Brazil Healthcare 73 73 Sigma, Mexico Food 74 85 Ford, USA (1) Vehic/parts 75 75 AES, USA (1) Energy 76 108 PSA Peugeot Citroen, Vehic/parts France (1) 77 53 Embraer, Brazil Transport 78 61 Marfrig, Brazil Food 79 69 CSN, Brazil Steel 80 66 Millicom, Luxembourg (1) Telecom. 81 76 American Airlines, USA (1) Airlines 82 77 Sul America, Brazil Holding 83 99 Tenaris, Argentina Steel 84 87 CelulosaArauco, Chile Pulp 85 72 P&G, USA (5) Manuf. 86 64 Lojas Americanas, Brazil Retail 87 82 CMPC, Chile Pulp 88 84 Org. Terpel, Colombia Energy 89 113 Daimler, Germany (2) Vehic/parts 90 97 Alpek, Mexico Chemical 91 78 Telmex, Mexico Telecom. 92 68 Grupo EPM, Colombia Holding 93 86 TIM, Brazil Telecom. 94 83 Grupo Argos, Colombia Holding 95 109 Elektra, Mexico Retail 96 100 Grupo Chedraui, Mexico Retail 97 90 Grupo Televisa, Mexico Media 98 92 Grupo Carso, Mexico Holding 99 122 Antofagasta PLC, Chile Mining 100 91 Bayer, Germany (1) Chemical 101 95 Cresud, Argentina Agri. 102 79 Minera Escondida, Chile Mining 103 89 GloboCom., Brazil Media 104 103 Avianca, Colombia Airlines 105 98 Sabesp, Brazil Water 106 107 Ind.Penoles, Mexico Mining 107 111 Nemak, Mexico Manuf. 108 124 Caterpillar, USA (1) Manuf. 109 102 Irsa, Argentina Holding 110 106 Copel, Brazil Energy 111 -- Yara, Norway (1) Chemical 112 121 Energisa, Brazil Energy 113 112 Cosan Ltd., Brazil Food 114 126 Petroperu.Peru Energy 115 114 Coca-Cola, USA (1) Beverages 116 125 RaiaDrogasil, Brazil Retail 117 123 Eletropaulo, Brazil Energy 118 101 Schlumberger, USA (1) Services 119 105 Raizen Energia, Brazil Energy 120 120 Colgate-Palmolive, USA (1) Manuf. 121 134 Quinenco, Chile Holding 122 156 Ref. La Pampilla, Peru Energy 123 116 Itaipu Binacional, Br/ Energy Paraguay 124 150 Energias do Brasil, Brazil Energy 125 118 SMU, Chile Retail 126 143 Minerva, Brazil Food 127 147 Magazine Luiza, Brazil Retail 128 129 Gru ma, Mexico Food 129 127 Mondelez Internacional, Food USA (1) 130 145 Fibria, Brazil Pulp 131 117 Cielo, Brazil Services 132 131 Telecom, Argentina Telecom. 133 133 UAL, USA (1) Airlines 134 144 Grupo Light, Brazil Energy 135 135 Whirlpool, USA (1) Manuf. 136 161 Sanofi, France (1) Pharm. 137 115 Alesat Combustiveis, Brazil Energy 138 140 Sodimac, Chile Retail 139 146 Arcos Dorados, Argentina Food 140 -- Hydro, Norway (1) Steel 141 164 Usiminas, Brazil Steel 142 185 Soc. Minera Cerro Mining Verde, Peru 143 139 GOL, Brazil Airlines 144 137 CCRRodovias, Brazil Services 145 165 Grupo Lala, Mexico Food 146 138 Suzano, Brazil Pulp 147 128 Coamo, Brazil Agri. 148 155 Monsanto, USA (10) Chemical 149 152 Entel, Chile Telecom. 150 168 CNH, The Netherlands (2) Vehic/parts 151 162 Grupo Aeromexico, Mexico Airlines 152 160 Roche, Switzerland1 Pharm. 153 202 Reficar, Colombia Mining 154 141 Avon, USA (1) Manuf. 155 157 Emb. Andina, Chile Beverages 156 181 Natura, Brazil Manuf. 157 196 Collahuasi SCM, Chile Mining 158 188 Prosegur, Spain (1) Services 159 154 Mabe, Pern Electronics 160 170 Ind. Bachoco, Mexico Food 161 148 G. Nutresa, Colombia Food 162 171 BASF, Brazil Chemical 163 132 Syngenta, Switzerland (1) Agri. 164 149 Weg, Brazil Manuf. 165 151 Whirlpool, Brazil Manuf. 166 175 Aut. Canal de Panama, Panama Services 167 179 Rede D'Or Sao Luiz, Brazil Health 168 192 Paul FLuz, Brazil Energy 169 174 CGE, Chile Energy 170 189 AHMSA, Mexico Steel 171 191 CCU, Chile Beverages 172 177 Equatorial, Brazil Energy 173 183 Ripley, Chile Retail 174 187 Rede Energia, Brazil Energy 175 163 The Mosaic Company, USA (1) Agri. 176 220 Pampa Energia, Argentina Energy 177 153 Telefonica del Peru, Peru Telecom. 178 172 Agrosu per, Chile Agri. 179 176 Enel Generacion, Chile Energy 180 60 Furnas, Brazil Energy 181 199 Goldcorp, Canada (1) Mining 182 190 Arcor, Argentina Food 183 167 Grupo ACS, Spain (2) Construct. 184 200 Klabin, Brazil Pulp 185 194 Grupo Sanborns, Mexico Retail 186 197 Copa, Panama Airlines 187 205 Banmedica, Chile Health 188 186 DuPont.USA (1) Chemical 189 203 Coelba, Brazil Energy 190 159 Ericsson, Sweden' Electronics 191 204 Recope, Costa Rica Energy 192 195 AES Gener, Chile Energy 193 229 Los Pelambres, Chile Mining 194 201 InRetail Peril, Peru Retail 195 215 Corp. Fragua, Mexico Retail 196 173 Grupo Ice, Costa Rica (6) Energy 197 247 Aeropuertos y Servicios, Transport Mexico 198 211 Azul, Brazil Airlines 199 209 Cemig Gen., Brazil Energy 200 223 Xignux, Mexico Holding 201 104 Grupo ISA, Colombia Energy 202 193 Cosan, Brazil Food 203 224 Daimler, Mexico Vehic/parts 204 -- Molinos Agro, Argentina Food 205 232 Adidas, Germany (1) Manuf. 206 208 lochpe-Maxion, Brazil Manuf. 207 182 Transpetro, Brazil Energy 208 212 Lojas Renner, Brazil Retail 209 235 Southern Peril, Peru Mining 210 142 Pan American, Argentina Energy 211 198 Sidgo Koppers, Chile Holding 212 210 Julio Simoes, Brazil Transport 213 213 Alicorp, Peru Food 214 271 FCA Automobiles, Argentina Vehic/parts 215 231 Alsea, Mexico Food 216 217 Enel Distribution, Chile Energy 217 219 SQM, Chile Chemical 218 158 B2W Varejo, Brazil Retail 219 248 Anglo American Sur, Chile Mining 220 226 Celesc, Brazil Energy 221 296 Imp y Exp. De la Patagonia, Retail Argentina 222 206 C.Vale, Brazil Agri. 223 214 Engie, Brazil Energy 224 228 Halliburton, USA (1) Services 225 246 Electrolux, Sweden (1) Manuf. 226 222 Fresnillo PLC, Mexico Mining 227 346 Vitro Vidrio Piano, Mexico Manuf. 228 238 Cablevision, Argentina (6) Telecom. 229 207 Biosev, Brazil Agri. 230 241 Siderar, Argentina Siderurgica 231 244 Nueva EPS, Colombia Health 232 374 Vitro, Mexico Manuf. 233 230 ANCAP, Uruguay Energy 234 250 Drummond, Colombia (9) Mining 235 256 G. Mexico Transportes, Transport Mexico 236 216 Ingredion, USA (1) Food 237 225 Corp. Favorita, Ecuador Retail 238 234 Guararapes, Brazil Textile 239 233 Lojas Riachuelo, Brazil Retail 240 221 Grana y Montero, Peru Construct. 241 227 Sanmina, USA (7) Electronics 242 252 CAP, Chile Steel 243 240 Kimberly Clark, Mexico Paper 244 236 Olimpica, Colombia Retail 245 274 Novelis, USA (8) Steel 246 249 Ultragaz, Brazil Energy 247 289 Localiza, Brazil Sen/ices 248 218 ExxonMobil, Colombia Energy 249 166 Eletronorte, Brazil Energy 250 245 Pague Menos, Brazil Retail 251 258 Ripley, Chile Retail 252 261 Cosan Log, Brazil Transport 253 292 Rumo, Brazil Transport 254 272 Elektro Redes, Brazil Energy 255 237 Alunorte, Brazil Steel 256 242 Bavaria, Colombia Beverages 257 243 UNE EMP Telecom., Colombia Telecom. 258 310 Carb. del Cerrejon, Colombia Mining 259 255 Kroton, Brazil Education 260 269 IndustriasCH, Mexico Steel 261 239 Comgas, Brazil Energy 262 263 Minera Valparaiso, Chile Mining 263 260 LITE, Uruguay Energy 264 266 El Palacio de Hierro, Mexico Retail 265 290 Minera Centinela, Chile Mining 266 253 M. DiasBranco, Brazil Food 267 267 Grupo Gigante, Mexico Retail 268 259 Alkosto, Colombia Retail 269 288 Ampla En., Brazil Energy 270 273 Celpe, Brazil Energy 271 299 NotreDame Intermedica, Brazil Health 272 268 SPDM, Brazil Health 273 284 Thyssenkrupp, Germany (2) Steel 274 285 Celpa, Brazil Energy 275 316 American Axle & Manuf., Vehic/parts USA (1) 276 286 UCP Backus...

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