According to a study, Germany’s 100 listed companies with the highest turnover are heading for a strong year 2022, despite the consequences of the Ukraine war.

"Despite strong headwinds, the top German companies have done well this year," said Henrik Ahlers, CEO of the auditing and consulting firm EY Germany. However, no major leaps in sales are expected in 2023. "Both citizens and companies need to tighten their belts." High inflation and fears of a recession made consumers reluctant to buy and companies less willing to invest.

Revenue growth in the first three quarters of 2022

According to the information, almost all (93 percent) of the 100 listed companies with the highest sales recorded sales growth in the first three quarters of 2022 compared to the same period last year. Total sales increased by 30 percent to 1.78 trillion euros. Without the billions lost by the ailing energy company Uniper, which is to be largely nationalized, the combined operating profit (EBIT) of the companies would have risen by 22 percent to 145 billion euros. These were the highest absolute values ​​since the first evaluation five years ago.

According to the information, some of the companies benefited from cost increases, for example the logistics companies examined from high freight rates. The lack of chips and the subsequent strategy of primarily offering high-margin models and forgoing discounts have brought the car companies a sales increase of 13 percent despite lower sales figures. The massive increase in energy costs would have resulted in sales increases of 125 percent for the evaluated energy suppliers.

"Most companies were on a growth course this year, which is also reflected in the number of employees," said Ahlers. Overall, the top 100 employed 4.3 million people worldwide as of September 30, 1.7 percent more than a year earlier. For the coming year, Ahlers anticipates cost-cutting measures. A comprehensive, nationwide job cuts is not expected in view of the shortage of skilled workers.