How the 100 largest companies in Lower Saxony are faring - Lower Saxony's Top 100 Firms Endure Mixed Fortunes in 2024, Eyeing Recovery
Last year saw a mixed bag of fortunes for the top 100 companies in Lower Saxony. Despite a 1.5% drop in overall revenue to €539 billion, many firms managed to hold steady or even grow. TUI, for instance, saw a 12% boost in revenue to €23.2 billion, securing third place.
Volkswagen, the region's giant, maintained its top spot with a slight 0.7% increase to approximately €324.6 billion. Continental, the second-largest, saw a 4% dip to €39.7 billion. The trend was mixed, with some companies expanding while others were held back by weak economic conditions.
Looking ahead, many firms expect a 3% revenue increase this year, buoyed by a modest economic recovery and government stimulus. Employment numbers, however, declined by over 3%.
TUI's strong performance pushed it into third place, while the top two spots remained with Volkswagen and Continental. Outside the Hannover-Braunschweig-Göttingen-Wolfsburg metropolitan area, notable companies include Hellmann Worldwide Logistics in Osnabrück and Sartorius AG in Göttingen. The exact ranking beyond the top two is dominated by firms in the metropolitan region, but cities like Osnabrück and Oldenburg also have multiple large companies.
Despite a challenging year, Lower Saxony's top companies have largely weathered the storm. With a modest recovery underway and positive expectations for the current year, the region's business landscape looks set to improve. However, employment numbers suggest that the road to full recovery may still be long.
