Heavyweights on the Stock Exchange - Sales of the Dax groups barely grew
Germany's heavyweights on the stock exchange increased their profits by an average of 17 percent compared to the previous year in the second quarter. However, not all companies in the Dax 40 participated in this development, as car manufacturers in particular struggled, as shown in an analysis by the auditing and consulting firm EY.
The most profitable company was once again Deutsche Telekom AG, which generated an operating profit of six billion euros, followed by Volkswagen (5.5 billion euros) and Mercedes (four billion euros). RWE and Rheinmetall showed particularly strong growth. Bayer and Siemens Energy returned to the profit zone after losses in the previous year's quarter.
"On the brink of a recession"
In terms of revenue, the Dax companies achieved only a small increase of 1.7 percent compared to the previous year. Business in Europe developed more positively than in other markets. In Asia, revenues even decreased by five percent.
The chairman of the EY management board, Henrik Ahlers, speaks of "overall strong figures". "We are on the brink of a recession in Germany. Moreover, we see structural problems in many sectors such as overcapacities and a difficult cost situation. However, many German top companies are very strong globally, and some foreign markets still offer growth opportunities."
Despite the challenging market conditions, some Dax groups, such as RWE and Rheinmetall, demonstrated notable growth in their profits. Conversely, Dax groups like Bayer and Siemens Energy, which previously reported losses, managed to return to the profit zone in the second quarter.
