German firms report profits despite layoffs
The largest German companies listed on the DAX index achieved record-breaking financial results in the second quarter of 2026, with operating profits increasing by approximately 16% to reach €52.6 billion, marking an all-time high despite global challenges such as war conflicts and trade disputes. Companies like Deutsche Telekom, Allianz, and Volkswagen reported record quarterly profits, while sectors such as defense, technology, chemicals, banking, and insurance experienced significant growth, driven by activities related to artificial intelligence and supply chains. Despite this record growth, thousands of jobs were cut, with a focus on growth occurring mainly in specific sectors benefiting from geopolitical and economic conditions.
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