European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank49

Sweden · Technology

Hanza

Provides regional contract manufacturing across electronics, sheet-metal mechanics, heavy mechanics, wire harnesses, machining and assembly services.

+75%revenue growth
FY2022–FY2025
+110%net-income growth
FY2022–FY2025
+159%stock return
FY2022–FY2025
+10%2026 stock return
current context only

Company profile

The factory network behind other companies' products

HANZA is a contract manufacturer: customers retain their brands and markets while HANZA supplies the industrial chain behind the product. Its factories combine electronics, sheet metal, machining, heavy mechanics, wire harnesses and final assembly. The company also helps customers redesign fragmented supply chains before production moves, then places the work in regional clusters of complementary factories close to major customer markets.

Manufacturing platform

Six technologies can become one production chain

Electronics, sheet metal, machining, heavy mechanics, wire harnesses and assembly can be purchased separately or combined. HANZA also offers hardware and software design, prototyping, testing and design-for-manufacturing support. The result can range from a component to a tested, packaged product rather than a succession of unrelated subcontractors.

Products in practice

Forklifts, telecom equipment and gas detectors reveal the range

For Mitsubishi Logisnext Europe, HANZA describes transferring more than forty suppliers and final assembly of electric warehouse trucks to its Baltic cluster. It moved a WISI telecom production line into Central Europe and works with SAMON on gas-detection products. Other official cases cover Thermia heat pumps and Njord industrial air-cleaning systems.

Supply-chain redesign

Analyse the chain before moving the machines

HANZA's MIG method begins with a four-to-eight-week analysis of sourcing, production, assembly and logistics, followed by a risk and transfer plan. The Silva case makes that process tangible: after the analysis, production of compasses and headlamps moved from Silva's own Shenzhen factory to HANZA's Suzhou operation. A virtual tour lets customers inspect multiple technologies without travelling between sites.

Factory footprint

A regional network that can be inspected on screen

HANZA reports thirty factories and about 220,000 square metres of production space. Its founder's account traces the cluster idea back to the company's 2008 beginnings, while the investor page sets out the current strategy. An official group film and a tour through the Tartu sheet-metal plant turn that abstract outsourcing model into visible industrial operations.

Current 2026 update

What has changed in 2026?

Six months ended 30 June 2026 · 21 July 2026

Six months ended 30 June 2026latest official update
4company-specific highlights
+10%2026 stock return · context only

Net sales

First-half net sales rose 83.6% to SEK 5.22 billion; acquisition-adjusted organic growth was 14%.

Six months ended 30 June 2026 · SEK 5,219m · +83.6%

Adjusted operating profit

Adjusted operating profit increased 119.2% to SEK 445 million.

Six months ended 30 June 2026 · SEK 445m · +119.2%

Operating cash flow

Cash flow from operating activities rose to SEK 696 million from SEK 231 million.

Six months ended 30 June 2026 · SEK 696m · +201.3%

Q2 unadjusted margin and EPS

In Q2, the unadjusted operating margin fell to 5.9% from 7.0% and diluted EPS to SEK 0.85 from SEK 1.13; the company linked comparability items to staff reductions and Horizon programme wind-down costs.

Three months ended 30 June 2026

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202549+75%+110%+159%