The profits of Germany’s largest companies have fallen significantly this year. The 100 publicly listed companies with the highest revenues recorded a total profit of 102 billion euros in the first nine months of 2025, down 15% from the previous year, according to consulting firm EY on Monday. At the same time, these corporations cut 17,500 jobs. The automotive and chemical industries were hit particularly hard.
Among the most profitable companies, Deutsche Telekom led with an operating profit of 19.4 billion euros in the first nine months, an increase of 9% compared to last year. Siemens, BMW, and SAP followed in second to fourth place. In contrast, the automotive sector saw profits drop by an average of 46%, while the chemical industry’s profits fell by 71%.
On the other hand, IT companies nearly doubled their average profits, and the healthcare sector also performed well, with gains of around 40%. “2025 was another crisis year for the German economy,” said Jan Brorhilker of EY. “Economic growth remains weak, geopolitical conflicts and U.S. trade policies are causing investment caution, and Chinese companies are increasingly entering global markets, adding competitive and cost pressures.”
Total revenue for the 100 companies rose slightly to 1.55 trillion euros, a 0.6% increase over last year, though still below the inflation rate. Volkswagen, Mercedes-Benz, and BMW remained the top three in revenue rankings, but the automotive sector overall saw a 2% drop in revenue.
Employment among these companies fell slightly by 0.4%. “Many top German corporations are holding back on new hires and cutting administrative jobs, especially domestically,” Brorhilker explained. “We are also seeing the impact of growing implementation of AI technologies. The job market is likely to remain tight, particularly for new entrants.”
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