After the record profits, the prospects are darkening

Dusseldorf With a net profit of 117 billion euros, the 40 Dax companies achieved their second-best result in history in the past financial year. At 165 billion euros, earnings before interest and taxes were even around three percent more than in the previous record year 2021. With the presentation of Porsche Holding, in which the assets of the Porsche and Piëch families are bundled, all Dax companies now have their balance sheets released for 2022.

Sales rose even more sharply by a good 15 percent to a record 1.8 trillion euros. The high inflation with sharply rising prices had an effect here. But the balance sheets are clouded: the final quarter signaled a ten and a half percent drop in profits, a change in direction that is likely to continue.

“2023 will be characterized by high inflation, high interest rates and considerable geopolitical tensions,” predicts Mathieu Meyer, partner at the management consultancy EY.