Recession is away from Swiss companies

The 300 largest European and American companies have recorded a decrease in revenues in the first half, due to the fall of oil prices and commodities. The performance of Swiss companies has been rather bucking. The European groups have suffered a drop in sales by 4.6% year on year, as indicated by the consulting company EY in a statement today. For American companies the drop was 0.4%, while the 23 Swiss companies included in the ranking registered 9.5% up. Glencore and Nestlé set out in the European top ten, respectively in fifth and ninth.

European companies show a 9.6% decline of earnings while the US and Switzerland-based decreased by 3.5%: 14 of the 23 Swiss firms, however, improved the result. Roche is ranked first in Europe, with an operating profit of €7.4 billion before Deutsche Telekom and Nestle.

Overall, 47% of European businesses are active in the industrial sector, compared to 29% registered in the US. Instead, the computer industry is driving – with Apple, Google and Microsoft – the US while only 14 European IT-companies are included in the ranking, points out the note: the sector recorded €92 billion in revenue in Europe and €575 billion in extra-european countries. Apple, by itself, made a profit higher than the amount of the five most profitable European companies.