In this article, we will take a look at 15 of the largest German companies by revenue. If you want to see more of the biggest German companies by revenue, go directly to 5 Largest German Companies by Revenue.
Like France is known for being a land of luxury powerhouses and beauty, Germany is known for being the land of great engineering and technological prowess. Many of Germany's leading companies are at the cutting edge of their fields and operate in either industry or technology.
Germany, as a country, is also a leading economic engine in both Europe and the world. In terms of its economy, Germany has a GDP of over $4.2 trillion in 2021 which accounts for almost one quarter of the EU's GDP. Given its population of over 83 million, Germany is Europe's largest consumer market, and the country also has high levels of productivity, good infrastructure, and a highly skilled labor force.
In terms of infrastructure, the German government plays an active part in helping build the most modern equipment. Recently, for example, the German government announced it would spend 6.3 billion euros or around $6.17 billion to help expand the country's electric car charging network. German transportation minister Volker Wissing said, “We are not just any automotive location, but a leading one in the world. And that’s why it’s important to us that what we’re preparing succeeds well. We need a forward-looking expansion of the nationwide charging infrastructure that meets demand and is user-friendly.” In terms of its EV infrastructure, Germany currently has around 70,000 charging points and the German government's goal is to have 1 million charging points by 2030.
The German government is also actively preparing its electric grid to handle the increased electric demand from EV charging. According to Germany's Federal Office for Motor Vehicles, 14.6% of all of Germany's newly registered vehicles were EVs.
Leading German Companies
Given Germany's strong car brands and the German government's active support of them, several of Germany's biggest companies by revenue are vehicle manufacturers.
Given Germany's economic size, many of the largest German companies by revenue also have sales of over $100 billion with the largest with sales of over $280 billion. Like leading American companies, many leading German companies do business globally.
2022 Headwinds
Due to the higher inflation and the natural gas cost increases due to the Russia Ukraine war, Germany's economic growth has slowed recently.
After growing 2.7% in 2021, Germany's economy is expected to expand just 1.4% this year and decline 0.4% next year according to Germany's Economy Ministry in October. Inflation is also a problem as the German government expects inflation to average 8% this year and 7% next year.
Another headwind has been the Federal Reserve rate hikes. To control inflation in the United States, the Federal Reserve has increased interest rates 5 times already this year. As a result, the fed funds rate is around 3% to 3.25% after being near 0.25% in the beginning of the year. According to some estimates, the federal funds rate could rise to 4.25% to 4.5% by the end of the year.
Given the increases in interest rates, economic growth could slow both in the United States and internationally. Given that Germany does a lot of trade with the United States and internationally, its economy is also affected by the increases in interest rates.
Although the German economy might slow late this year and next year, 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's a good chance that German companies will continue to be at or near the forefront of many leading tech and industrial sectors.
For revenues of companies, we used companiesmarketcap.com's data which is generally the sum of the four quarters from Q2 2022 with the exception of Talanx and Daimler Truck, which companiesmarketcap.com uses a different method to calculate.
15 Largest German Companies by Revenue
15. Daimler Truck
Revenue: $48.56 Billion
Daimler Truck, which manufactures commercial vehicles such as trucks and buses, is a spin-off of Daimler AG in 2021. The company was spun off because, "Daimler Truck operates in an industry that is facing major technological and structural changes. Given this context, the company is now able to operate most effectively as independent entity, equipped with strong net liquidity and free from the constraints of a conglomerate structure."
In 2021, Daimler Truck benefited from the economic recovery from the pandemic and significantly increased its unit sales, revenue, and net profit. Sales were €39,8 billion in 2021, up 10% from the previous year, while the company's incoming orders were 590,000 units, up 37% year over year. Like other companies, Daimler Truck could potentially face some headwinds in 2023 if there is an economic recession.
According to companiesmarketcap.com's method, Daimler Truck had revenue of $48.56 billion, ranking it #15 on our list of 15 Largest German Companies by Revenue.
14. Talanx
Revenue: $49.49 Billion
Talanx is Germany's third largest insurance group by premium income. Based in Hannover, Talanx has operations in over 175 countries and provides insurance and reinsurance products. In the first six months of 2022, Talanx's gross written premiums rose 17.7% and its net premiums earned rose 16%. According to companiesmarketcap.com's method, Talanx has revenues of $49.49 Billion, ranking it #14 on our list of 15 Largest German Companies by Revenue.
13. EnBW Energie
Revenue: $51.55 Billion
EnBW Energie is a German utility that mainly supplies power and gas to Baden-Wuerttemberg, a German state that's the home to companies like Mercedes-Benz and Prosche AG. Given Russian Ukraine war, EnBW Energie's results in 2022 have declined due to lower gas flows this year and increased costs. Nevertheless, EnBW Energie is still one of the largest German companies by revenue with sales of $51.55 billion.
In terms of its Q2 2022, EnBW Energie CFO Thomas Kusterer said,
"EnBW’s integrated portfolio approach across the entire energy value chain and our solid internal financing capability ensure stability. Against the backdrop of the Russia-Ukraine war, we are sticking to our strategic lineup and our climate targets."
12. Bayer
Revenue: $53.66 Billion
Bayer is a leading life science company based in Germany with a Pharmaceutical division and a consumer health division. For its pharmaceutical division, Bayer researches, develops, and markets prescription products and therapeutics in fields such as cardiology, oncology and gynecology. In terms of its revenue, Bayer had sales of $53.66 billion for the last four quarters from Q2 2022.
11. Munich RE (Münchener Rück)
Revenue: $73.04 Billion
Munich RE (Münchener Rück) is a leading provider of reinsurance, primary insurance as well as insurance related risk solutions in the world. Based in Germany, Munich RE (Münchener Rück) has 142 years of risk expertise and 39,281 employees at the end of 2021. In terms of its stock in Euros, Munich RE (Münchener Rück) has performed relatively well, with shares up 39.1% in the last 5 years and down only 2.1% year to date despite all the headwinds.
10. Siemens
Revenue: $76.60 Billion
Siemens is a German tech company that focuses on industry, infrastructure, transport, and healthcare. The company recently made news when it signed a deal to supply equipment and technology for EV battery plants for a joint venture between Stellantis, Mercedes Benz and TotalEnergies. As a company, Siemens has substantial scale given its revenue of $76.6 billion in terms of the last four quarters from Q2 2022.
9. BASF
Revenue: $94.98 Billion
With around 111,000 employees and customers in nearly every sector and country in the world, BASF is the largest chemical company in the world. The Germany based company generated €78.6 billion in sales in 2021 and even more in terms of the cumulative revenue of the company's last four quarters from Q2 2022. BASF operates in six segments including chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions.
8. Deutsche Post
Revenue: $100.04 Billion
Deutsche Post is a German based provider of postal services. In October, the company said it will hike its full year guidance when it reports third quarter results on November 8. Deutsche Post's results have strengthened as e-commerce shipments have increased and capacity bottlenecks in the ocean and air freight have decreased. Given the slowing economy, however, the company could face headwinds in the near term.
7. E.ON
Revenue: $107.92 Billion
E.ON is Europe's largest operator of energy networks and energy infrastructure with around 51 million customers. In terms of its metrics, E.ON has 72,000 employees, a regulated asset base of €35 billion, 1.6 million kilometers of energy networks, and also an adjusted EBITDA of €7.9 billion. The company is also driving forward to the energy transition in Europe. CEO Leonhard Birnbaum said on the green transition, "E.ON will now launch a comprehensive growth and investment offensive to establish a zero-carbon energy world. In 2030, E.ON will be bigger, greener, more digital, and more diverse."
6. Deutsche Telekom
Revenue: $124.35 Billion
Deutsche Telekom is one of the world's leading telecom companies with around 248 million mobile customers, 22 million broadband lines, and 26 million fixed-network lines. Deutsche Telekom is also global, with operations in over 50 countries and a staff of 216,500 at the end of 2021. In terms of sales for the last four quarters from Q2 2022, Deutsche Telekom had revenue of $124.35 billion, ranking it #6 on our list of 15 Largest German Companies by Revenue.