The economic downturn in Germany was reflected for the first time in the numbers of the largest listed companies.
(Image: Imago (2), Bloomberg (2))
Dusseldorf At first glance, the profit boom in Germany’s largest publicly listed companies appears to be continuing: According to Handelsblatt’s calculations, the 40 leading Dax companies earned €45.3 billion in the first three months of 2023, up four percent from the strong previous year.
However, this includes €15.4 billion from Deutsche Telekom, more than half of which results from the sale of the radio tower business. Without Telekom’s special effects, the turnover of the 40 Dax companies amounted to only 31.9 billion euros. That was 27 percent lower than in the same period last year. On Wednesday, Siemens, Commerzbank and Munich Re were the last Dax companies to submit their quarterly accounts.
The economic downturn in Germany was reflected for the first time in the numbers of the DAX companies, after they were characterized by high profits in the past two years.
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