In this article we take a look at 15 of the top-selling German companies. If you want to see more of the top-grossing German companies, go straight to The 5 largest German companies by turnover.
Just as France is known for being a country of luxury powerhouses and beauty, Germany is known for being the country of great engineering and technological prowess. Many of Germany’s leading companies are leaders in their fields and are active in either industry or technology.
As a country, Germany is also a leading economic engine in Europe and the world. In terms of its economy, Germany has a GDP of over $4.2 trillion in 2021, which is almost a quarter of the EU’s GDP. With more than 83 million inhabitants, Germany is Europe’s largest consumer market. The country also has a high level of productivity, good infrastructure and a highly qualified workforce.
In terms of infrastructure, the federal government is actively involved in the construction of state-of-the-art facilities. The federal government recently announced that it would spend 6.3 billion euros or around 6.17 billion US dollars on expanding the charging network for electric cars. Federal Transport Minister Volker Wissing said: “We are not just any automotive location, but one of the world’s leading ones. And that’s why it’s important to us that what we prepare works well. We need a future-oriented, needs-based and user-friendly expansion of the nationwide charging infrastructure.” In terms of EV infrastructure, Germany currently has around 70,000 charging points and the federal government’s goal is to have 1 million charging points by 2030.
The federal government is also actively preparing its power grid to cope with the increased demand for electricity from charging electric vehicles. According to the Federal Motor Transport Authority, 14.6% of all newly registered vehicles in Germany were electric vehicles.
Leading German companies
Given the strong German car brands and their active support from the federal government, some of the top-selling German companies are vehicle manufacturers.
Given Germany’s economic size, many of the top-grossing German companies have sales in excess of $100 billion, with the largest generating sales in excess of $280 billion. Like leading American companies, many leading German companies operate worldwide.
Economic growth in Germany has recently slowed due to higher inflation and the rise in natural gas prices caused by the Russia-Ukraine war.
After growing 2.7% in 2021, the German economy is expected to grow by just 1.4% this year and contract by 0.4% next year, Germany’s economy ministry said in October. Inflation is also an issue, with the federal government expecting inflation to average 8% this year and 7% next year.
Another headwind was the Federal Reserve’s rate hikes. In a bid to control inflation in the United States, the Federal Reserve has already hiked interest rates five times this year. As a result, the fed funds rate is around 3% to 3.25% after hovering around 0.25% earlier in the year. According to some estimates, the federal funds rate could rise to 4.25% to 4.5% by the end of the year.
With interest rate hikes, economic growth could slow both in the United States and internationally. Since Germany does a lot of trade with the United States and internationally, its economy has also been affected by the rate hikes.
Although the German economy could slow late this year and next, the German economy is still one of the strongest in all of Europe and its companies are among the most innovative. In the long term, there is a good chance that German companies will remain at or near the top in many leading technology and industrial sectors.
Copyright: bizoon / 123RF Stock Photo
For our list of the 15 largest German companies by revenue, we took the top 15 companies from the top listed German companies by revenue from Companiesmarketcap.com.
For company sales, we used data from companiesmarketcap.com, which is generally the sum of the four quarters from Q2 2022, with the exception of Talanx and Daimler Truck, for which companiesmarketcap.com uses a different method for their calculation.
15 German companies with the highest turnover
15. Daimler truck
Revenue: $48.56 billion
Daimler Truck, manufacturer of commercial vehicles such as trucks and buses, is a 2021 spin-off of Daimler AG. The company was spun off because “Daimler Truck operates in an industry facing major technological and structural changes. With this in mind, the company is now positioned to operate most effectively as an independent entity, endowed with a strong net cash position and free from the constraints of a conglomerate structure.”
In 2021, Daimler Truck benefited from the economic recovery from the pandemic and significantly increased sales, revenue and earnings. Sales in 2021 were €39.8 billion, up 10% year-on-year, while the company’s orders were 590,000 units, up 37% year-on-year. Like other companies, Daimler Truck could face headwinds in an economic recession in 2023.
According to the companiesmarketcap.com method, Daimler Truck achieved a turnover of 48.56 billion US dollars and thus ranks 15th on our list of the 15 largest German companies by turnover.
Revenue: $49.49 billion
Talanx is Germany’s third largest insurance group in terms of premium income. Headquartered in Hanover, Talanx operates in over 175 countries and offers insurance and reinsurance products. In the first six months of 2022, Talanx’s gross written premiums increased by 17.7% and net earned premiums by 16%. According to the companiesmarketcap.com method, Talanx has sales of USD 49.49 billion, ranking 14th on our list of the 15 largest German companies by sales.
13. EnBW Energy
Revenue: $51.55 billion
EnBW Energie is a German utility that mainly supplies electricity and gas to Baden-Württemberg, a German state that is home to companies such as Mercedes-Benz and Prosche AG. In light of the Russian-Ukraine war, EnBW Energie’s 2022 results have declined due to lower gas flows that year and increased costs. Nevertheless, EnBW Energie is still one of the top-selling German companies with sales of 51.55 billion US dollars.
Regarding the second quarter of 2022, EnBW Energie CFO Thomas Kusterer said:
“EnBW’s integrated portfolio approach across the entire energy value chain and our solid internal financing power ensure stability. Against the background of the Russia-Ukraine war, we are sticking to our strategic positioning and our climate goals.”
Revenue: $53.66 billion
Bayer is a leading life sciences company headquartered in Germany with a pharmaceuticals division and a consumer health division. For its pharmaceuticals division, Bayer researches, develops and markets prescription products and therapeutics in areas such as cardiology, oncology and gynecology. In terms of revenue, Bayer had revenue of $53.66 billion for the trailing four quarters as of the second quarter of 2022.
11. Munich Re (Munich Re)
Revenue: $73.04 billion
Munich RE (Munich Re) is a leading global provider of reinsurance, primary insurance and insurance-related risk solutions. Munich RE (Munich Re) based in Germany has 142 years of risk expertise and 39,281 employees at the end of 2021. Measured in terms of its share in euros, Munich RE (Munich Re) has performed relatively well with a share price increase of 39.1% over the last 5 years and down just 2.1% year-to-date despite all the headwinds.
Revenue: $76.60 billion
Siemens is a German technology company focused on industry, infrastructure, transport and healthcare. The company recently made headlines when it signed a contract to supply electric vehicle battery pack equipment and technology for a joint venture between Stellantis, Mercedes Benz and TotalEnergies. As a company, Siemens is of substantial size given its revenue of $76.6 billion for the last four quarters as of Q2 2022.
Revenue: $94.98 billion
With around 111,000 employees and customers in almost every industry and country in the world, BASF is the largest chemical company in the world. The Germany-based company generated sales of 78.6 billion euros in 2021 and even more based on the cumulative sales of the company’s last four quarters as of Q2 2022. BASF operates in six segments including Chemicals, Materials, Industrial Solutions, Surface Technologies , Nutrition and Care , and Agricultural Solutions.
8. Deutsche Post
Revenue: $100.04 billion
Deutsche Post is a Germany-based provider of postal services. In October, the company said it would raise its full-year guidance when it reports third-quarter results on November 8. Deutsche Post’s results have improved as e-commerce shipments have increased and capacity constraints in sea and air freight have eased. However, given the slowing economy, the company could face short-term headwinds.
Revenue: $107.92 billion
With around 51 million customers, E.ON is Europe’s largest operator of energy networks and energy infrastructure. Measured by its key figures, E.ON has 72,000 employees, a regulated asset base of 35 billion euros, 1.6 million kilometers of energy networks and an adjusted EBITDA of 7.9 billion euros. The company is also driving the energy transition in Europe. CEO Leonhard Birnbaum said about the green turn: “E.ON will now start a comprehensive growth and investment offensive to establish a CO2-free energy world. In 2030, E.ON will be bigger, greener, more digital and more diverse. “
6. Deutsche Telekom
Revenue: $124.35 billion
With around 248 million mobile customers, 22 million broadband and 26 million fixed network connections, Deutsche Telekom is one of the world’s leading telecommunications companies. Deutsche Telekom is also global, with operations in over 50 countries and 216,500 employees at the end of 2021. In terms of revenue for the last four quarters as of the second quarter of 2022, Deutsche Telekom reported revenue of $124.35 billion and ranks 6th place in our list of the 15 largest German companies by turnover.
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Disclosure: None. 15 German companies with the highest turnover was originally published on Insider Monkey.