<div id="readability-page-1"><div>STUTTGART (dpa-AFX) - The weak economic climate continues to weigh heavily on Germany's leading publicly listed companies. In the first nine months, earnings before interest and taxes (Ebit) of the 100 highest-revenue corporations fell to €102 billion – a 15 percent decrease compared to the same period last year. This is according to an analysis by the auditing and consulting firm EY, which was made available to the German Press Agency. According to the data, just over half of these companies generated less profit than a year ago. The negative trend is ongoing, marking the third consecutive decline in profits. On the revenue side, however, there is a slightly positive signal for the first time in two years. Total revenue for the top 100 companies rose by 0.6 percent to around €1.55 trillion. However, this growth lagged behind the current inflation rate. Still, 58 percent of the companies managed to increase their revenues. EY expert Jan Brorhilker stated: &#34;2025 was yet another crisis year for the German economy.&#34; The economy remains weak, while geopolitical conflicts and U.S. trade policy have led to investment restraint. Furthermore, Chinese firms are increasingly pushing into the global market, adding extra competitive and cost pressures. &#34;German industrial companies, which are highly export-oriented, had a particularly tough time in 2025.&#34; Corporations Put the Brakes on New Hiring The strained situation is also leaving its mark on the labor market. Of the companies surveyed, 39 saw a decrease in employee numbers, while 47 reported an increase. The rest gave no information. All told, around 17,500 jobs were lost from January to September, a decrease of 0.4 percent, bringing the total number of employees worldwide to around 4.24 million. Since 2023, the total workforce has shrunk by approximately 100,000 jobs. Volkswagen remains the largest employer with around 633,000 employees, followed by DHL Group (about 537,000) and Siemens (about 318,000). Many top corporations are holding back on new hires. Job cuts are particularly prevalent in administration – especially within Germany, as Brorhilker explained. &#34;We are also seeing the impact of the increasing implementation of AI technologies. The labor market is likely to remain tight, especially for young professionals.&#34; Automakers Remain on Top Despite Sharp Losses As in previous years, automakers Volkswagen, BMW, and Mercedes-Benz lead the revenue rankings. However, the figures also highlight the crisis in Germany's core industry: The combined revenue of these three corporations fell by only two percent year-on-year to around €437.2 billion. However, operating profit for the first nine months plummeted by 46 percent to about €17.8 billion, with the magnitude of the decline varying by manufacturer. The top chemical companies suffered even more, with profits plunging 71 percent. In contrast, the technology sector performed significantly better. IT companies nearly doubled their profits, and the healthcare sector also posted robust profit growth of 40 percent. Deutsche Telekom tops the list of most profitable companies, recording an operating profit of €19.4 billion in the first nine months (up nine percent). Siemens, BMW, and SAP follow. The various crises have affected companies to differing degrees. &#34;The financial sector is doing relatively well, technology companies too, and the defense industry is booming,&#34; Brorhilker noted. Many companies have also transformed their business models in recent years, fundamentally repositioned themselves, and in some cases entered new markets. Has the Worst Passed? Despite the difficult starting position, Brorhilker is cautiously optimistic about the future. &#34;For the German auto industry, 2025 brought mainly bad news. But the strategic realignment and strong new models, especially in the electric segment, offer real opportunities that the worst may soon be behind us,&#34; he said. However, German industry is unlikely to become the engine of growth in the coming year. That role will continue to fall to other sectors, such as technology, according to Brorhilker. &#34;A calming of the geopolitical situation, combined with the federal government's investment package, could spark an economic turnaround that would benefit many industries.&#34;/jwe/DP/stk</div></div>

大眾汽車(ADR)

德國前 100 家上市公司的息税前利潤（EBIT）在前三個季度下降了 15%，降至 1020 億歐元，連續第三次下滑。儘管收入略微增長 0.6%，達到 1.55 萬億歐元，但仍未能趕上通貨膨脹。裁員總數達到 17,500 人，其中大眾汽車、DHL 和西門子是主要僱主。汽車製造商的利潤下降了 46%，而信息技術和醫療保健行業則實現了增長。安永的 Jan Brorhilker 保持謹慎樂觀，指出汽車行業戰略重組和電動模型中存在機會

Germany's Leading Corporations: Profit Slump and Fewer Jobs

- 德國前 100 家上市公司的税息前利潤下降至 1020 億歐元，同比減少 15%。
- 收入小幅上漲至 1.55 萬億歐元，但增長低於通脹率，部分公司利潤減少。
- 勞動力市場壓力增加，約 17500 個職位流失，汽車行業面臨顯著挑戰。

德國主要企業：利潤下滑和就業崗位減少