02.3 Heritage as Opportunity Europe’s most valuable public companies - 95% TRADITIONAL INDUSTRY of which come from traditional industries - have demonstrated remarkable endurance until now Median age in years of the 348 European companies that are constituents of the 102 S&P Global 1,200 index. This compares to 64 for North American companies. Do the old have the speed it takes to respond to tech-enabled change? S&P Global Market Intelligence Interestingly, the median age of the incumbent companies in these industries is well over 100 years. In the battle of incumbent versus startup, Interestingly, the median age of the incumbent companies in these industries is well over 100 years in most cases. it is not the young who beats the old or the large who beats the small. It is In the battle of incumbent versus startup, it is not the young that beats the old or the large that beats the small. It those who are fast that are more likely to succeed against the slow. is those that are fast that are more likely to succeed against the slow. Median age in years of European public Insurance 155 companies in S&P Global 1,200 by industry Financial Services 154 group Industry 4.0 135 LEGEND Food & Drink 130 Median Age of Companies (years) CPG 125 Materials 113 Mobility 102 Biology 2.0 92 Retail 66 Energy 62 0 25 50 75 100 125 150 175 Median age (years) Note: Based on an analysis of the industry breakdown by market cap, Source: S&P Global Market S&P Global Market Intelligence revenue, market cap/revenue multiple and age of the 328 Intelligence constituents of the S&P Global 1,200 Index from Europe. Data as of October 2018. & 21 In Partnership with www.thestateofeuropeantech.com Photo: Joonas Linkola