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Germany’s 100 largest listed companies see falling profits
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Total profit (EBIT) of Germany’s 100 largest listed companies by turnover fell by 19 percent to around 81 billion euros (90.3 billion U.S. dollars) in the first three quarters of 2019, according to calculations published by consulting firm Ernst & Young (EY) on Friday.
A slight majority of Germany’s top companies had recorded a drop in profits while 60 percent also reported a lower profit margin, EY noted. The cumulative profit margin of Germany’s top companies fell from 8.2 to 6.4 percent — the lowest level since 2015.
The collapse in profits was partly due to “one-off effects and high restructuring costs”, said Hubert Barth, chairperson of the management board of EY Germany, adding that the minus was “also partly a consequence of weaker global demand and increasing trade barriers.”