Why the profit boom is ending now

Dax companies

The economic downturn in Germany is reflected for the first time in the figures of the largest listed companies.

(Photo: Imago (2), Bloomberg (2))

Dusseldorf At first glance, the profit boom in Germany’s largest listed companies seems to be continuing: According to Handelsblatt calculations, the 40 companies from the leading index Dax earned 45.3 billion euros in the first three months of 2023, four percent more than in the strong previous year.

However, this includes EUR 15.4 billion from Deutsche Telekom, more than half of which results from the sale of the radio tower business. Without special effects at Telekom, the 40 Dax companies only came to 31.9 billion euros. That was 27 percent less than in the same period last year. On Wednesday, Siemens, Commerzbank and Munich Re were the last Dax companies to present their quarterly accounts.

The economic downturn in Germany is reflected for the first time in the figures of the Dax companies, after they had stood out in the two previous years with high profits.

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