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Crisis? German companies with record profits

Nicholas by Nicholas
December 26, 2022
in News
0
Crisis?  German companies with record profits

Dhe hundred top-selling companies in Germany increased their turnover by 30 percent in the first nine months of this year. As the consulting company EY shows in an evaluation, a record level of 1.8 trillion euros was reached.

93 of the 100 companies were able to increase their sales. In view of the significantly higher gas prices, the gas importer Uniper took the lead with 213 billion euros, ahead of the car manufacturers Volkswagen, Mercedes and BMW.

Companies were able to pass on a good part of the increased energy costs to customers in the form of higher prices. 35 of the 100 companies managed to expand their profit margins in the generally difficult economic environment, 65 companies had to accept losses.

Overall, operating profits (EBIT) fell in the first nine months by 16 percent to 100 billion euros. However, this includes Uniper’s record-high loss, which amounts to 45 billion euros from January to September. The 99 companies with the highest sales without Uniper were able to keep their EBIT margins at a good 9 percent and achieved record profits of 145 billion euros, an increase of 22 percent on the previous year.

The auto industry is doing particularly well

Business in the German automotive industry is proving to be particularly robust. Volkswagen was not only able to raise a good 19 billion euros with the IPO of its subsidiary Porsche. Profits of 17 billion euros were also achieved in the operating business (plus 23 percent). Mercedes follows in second place with 15 billion euros (plus 26 percent). The Hamburg shipping company Hapag-Lloyd was able to advance to third place, which was able to more than double its profits to a good 14 billion euros in view of at times record-high freight rates.



Telekom achieved slight profit growth to 12 billion euros. BMW lost slightly to a good 10 billion euros. The Mainz-based vaccine manufacturer Biontech recorded slightly stronger losses of 12 percent in sixth place, but with a profit of a good 9 billion euros it still has an extremely high profit margin of 72 percent, the highest value among the 100 companies. Only Hapag-Lloyd has more than 50 percent with 53 percent. The fertilizer manufacturer K+S from Kassel lost its top position from the previous year and now has a margin of 31 percent after previously 86 percent.

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Almost three quarters of the companies created new jobs in the first nine months. Overall, employment rose 2 percent to 4.35 million. It was just below the pre-Corona high of 2019 with 4.36 million employees. Volkswagen remains the largest employer, ahead of the post office, Fresenius and Siemens. Auto1, About You and TUI increased employment the most.

Tags: bmwHapag LloydISIN_DE0005190003ISIN_DE0007664039Mercedes Benzrecord profitVolkswagen

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