15 Companies Getting Crushed By European Austerity

money wallet

Photo: Image: Flickr via Kate Ter Haar

With European governments jumping to cut their expenditures, European companies have a lot to lose from new austerity measures.Overall, European companies generate 8% of revenues directly from government expenditure, according to a Morgan Stanley investor note out today.

But some companies — who receive as much as 100% of their revenue from governments — are far more exposed to sovereign spending than that.

#12(tie) Finmeccanica

Sector: Industrials

Country: Italy

Market Cap ($ millions): 4,231

Price: €5.38

Government Expenditure (% of Total Revenue): 70%

#12(tie) Smith & Nephew

Sector: Health Care

Country: United Kingdom

Market Cap ($ millions): 8,230

Price: £5.87

Government Expenditure (% of Total Revenue): 70%

#12(tie) Ferrovial

Sector: Industrials

Country: Spain

Market Cap ($ millions): 8,505

Price: €8.53

Government Expenditure (% of Total Revenue): 70%

#12(tie) Pearson

Sector: Consumer Discretionary

Country: United Kingdom

Market Cap ($ millions): 14,638

Price: £ 11.48

Government Expenditure (% of Total Revenue): 70%

#11 Babcock International Group PLC

Sector: Industrials

Country: United Kingdom

Market Cap ($ millions): 3,727

Price: £6.63

Government Expenditure (% of Total Revenue): 75%

#8(tie) Synergy Health PLC

Sector: Health Care

Country: United Kingdom

Market Cap ($ millions): 757

Price: £8.75

Government Expenditure (% of Total Revenue): 80%

#8(tie) Cobham

Sector: Industrials

Country: United Kingdom

Market Cap ($ millions): 3,090

Price: £ 1.80

Government Expenditure (% of Total Revenue): 80%

#8(tie) Getinge

Sector: Health Care

Country: Sweden

Market Cap ($ millions): 4,960

Price: SEK 151.10

Government Expenditure (% of Total Revenue): 80%

#7 Celesio AG

Sector: Health Care

Country: Germany

Market Cap ($ millions): 2,408

Price: €10.41

Government Expenditure (% of Total Revenue): 82%

#3(tie) Basilea Pharmaceutica

Sector: Health Care

Country: Switzerland

Market Cap ($ millions): 422

Price: SFr 39.50

Government Expenditure (% of Total Revenue): 90%

#3(tie) Serco Group plc

Sector: Industrials

Country: United Kingdom

Market Cap ($ millions): 3,982

Price: £5.16

Government Expenditure (% of Total Revenue): 90%

#3(tie) Coloplast

Sector: Health Care

Country: Denmark

Market Cap ($ millions): 6,174

Price: DKK 816.00

Government Expenditure (% of Total Revenue): 90%

#3(tie) BAE SYSTEMS

Sector: Industrials

Country: United Kingdom

Market Cap ($ millions): 14,076

Price: £2.70

Government Expenditure (% of Total Revenue): 90%

#1(tie) Rhoen-Klinikum AG

Sector: Health Care

Country: Germany

Market Cap ($ millions): 2,909

Price: €15.47

Government Expenditure (% of Total Revenue): 100%

#1(tie) Elekta AB

Sector: Health Care

Country: Sweden

Market Cap ($ millions): 3,460

Price: SEK 257.90

Government Expenditure (% of Total Revenue): 100%

But EU governments aren't the only ones cutting their costs.

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