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According to data from the audit firm EY, while the revenues of 66 of the top 100 sales companies increased in the first nine months, the revenues of 34 of them decreased compared to the same period last year. Last year, sales of almost all companies (93 percent) increased. EY does not expect a big jump in growth next year.
“The headwind is increasing,” said Henrik Ahlers, CEO of EY Germany. “Many companies have grown only little – or not at all – recently, and often their growth rates have remained below the rate of inflation.” Global political uncertainties and wars have led to serious uncertainty among both companies and the public.
According to the information obtained, the locomotive of growth in the top 100 this year was the automotive sector, whose sales increased by 11 percent in the first nine months. But Ahlers said sentiment for the industry was gradually diminishing as global new car sales slowed.
According to the information obtained, while a total increase of 5 percent was recorded in the sales of other industrial companies in the first three quarters, a 4 percent increase was recorded in the sales of trading companies. Things got even worse for the healthcare industry, which recorded a 12 percent drop in revenues following the corona boom. While logistics companies shrank by 14 percent, the chemical industry shrank by 20 percent. The decline in sales was largest among energy suppliers, at 44 percent, due to significantly lower electricity prices.
The groups’ total operating result (EBIT) reached 135 billion euros, a sharp increase of 32 percent compared to the same period last year. The main reason for the increase was energy company Uniper’s record loss of almost 45 billion euros following the gas crisis in 2022. This pushed the overall balance down during that period. If the impact is ignored, there will be an 8 percent drop in overall profit in the first three quarters of 2023.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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