Last month, all German companies on the DAX blue-chip index lost value – more than €100 billion ($113 billion) – as China’s weakening economy hit German exporters.
Just three examples: Continental dropped 13 percent, Henkel 15 percent and ThyssenKrupp 20 percent.
But those dismal notes reflected only one month and one region of the world. Outside Asia, Germany’s largest companies stand to post record gains this year.
In fact, more German firms than ever raised revenue projections for the year, including pharmaceutical giant Bayer, chemical specialist Lanxess and the Fresenius health-care group as well as 56 others on the top stock indexes.
As a result, analysts recently raised 2015 profit estimates for 17 of the 30 DAX companies. The strongest numbers are expected at Lufthansa, Lanxess, the Munich RE insurance group and car manufacturer Daimler, all up more than 5 percent.
Earnings forecasts are also going up on the MDAX listing of the next 50 German companies, especially for the Bilfinger building group and chemical manufacturer Evonik.