Six Dax companies defy crisis
All the rest of the 40 companies listed in the leading index have failed to increase their net profits since 2019

Despite the global crisis and a reluctance to invest, six of the 40 DAX-listed companies in the leading index have managed to continuously increase their net profits year-on-year since 2019. Companies such as BASF and Adidas had to absorb billion-dollar write-downs and profit slumps, while supply chain difficulties and weak demand in China impacted business.
The few Dax companies that managed to post a steady rise in profits despite the adversity are characterized by robust business models that focus on products or services that are always in demand. For example, the profit streak at three of these six successful groups stretches back to 2015, and at one even to 2010.
Deutsche Telekom is one of these companies that can point to four years of rising profits. With a robust business model based on telecommunications services, the company was able to increase its profits even in times of crisis.
Munich Re, which operates as a reinsurer, has also been able to continuously increase its profits despite the Corona crisis and the weakness of its business in China. The company's business model is based on long-term contracts that endure even in times of crisis.
Vonovia, which operates in the real estate sector, also relies on long-term contracts. Strong demand for housing and long-term rental agreements ensure stable profits, which have risen steadily since 2019.
Despite the turbulence in the global market, Allianz has also been able to continuously increase its profits. The company benefits from its broad positioning in insurance and financial services, which generate stable earnings even in times of crisis.
The other two companies that have been able to continuously increase their profits since 2019 are SAP and Merck. SAP, a software company, was able to benefit from the digitization wave and successfully sell its products and services during the crisis. Merck, on the other hand, focuses on the production of pharmaceuticals and specialty chemicals, which have shown stable demand.
Despite the adversity in recent years, these six companies have been able to continuously increase their profits and thus maintain their position as pillars of the German economy.
