Dusseldorf Despite high energy prices, a still double-digit inflation rate and recession worries, the 40 Dax companies made record profits in the third quarter. Together they earned around 30 billion euros net, more than ever before in a third quarter.
In the new episode of Handelsblatt Today Extended, stock analyst Ulf Sommer and host Anis Micijevic talk about the five Dax companies that made the highest profits in the past financial quarter.
Once again, German car manufacturers such as Mercedes, BMW and Volkswagen are at the forefront: “They sell a little fewer cars than in the past, but they charge much higher prices for them and as a result they earn significantly more,” explains Sommer. There are also no more discounts for consumers, as was customary in the past.
The third quarter also went extremely well for Siemens: The Munich-based company achieved a net profit of 2.7 billion euros, earning more than twice as much as in the previous year. “Siemens is increasingly becoming an IT group and has an extremely high order situation with a view to 2023,” says Sommer. In addition, the group operates a very prudent and attractive dividend policy.
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Deutsche Telekom is benefiting above all from high growth rates in the USA and has raised its profit forecast for the current year for the third time. In the third quarter, Telekom earned 1.6 billion euros, 78 percent more than in the previous year. T-Mobile US was the major driver. “The whole thing hasn’t paid off for years. It’s a very late success that Telekom is only now achieving in the USA,” says Sommer.
More: The downturn is shifting – Dax companies earn more in the third quarter than ever before
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