Companies posted record profits in the first quarter

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Dutch companies posted record profits in the first quarter of this year. According to the CBS statistics office, all companies that are not in the financial sector together made a profit of 81.5 billion euros. This is the biggest gain since the measures began in 1999, according to Statistics Netherlands.

Statistics Netherlands points out that companies received less corona support during the measurement period. However, both the operating profit and the profit of foreign subsidiaries were higher.

In particular, mining, petrochemicals and energy companies recorded higher profits. It also had everything to do with rising energy prices. Restaurants, travel agencies and aviation also managed to increase their results. This was again linked to the reopening of economies after the corona measures.

The extra corporate profits also meant that more taxes had to be paid. Non-financial companies spent 3.2 billion euros more on tax on profits in the first quarter than a year earlier.

In addition, an additional dividend of €3 billion was paid to shareholders. Investments in fixed assets – such as buildings, means of transport, machinery and brands – also increased by 1.2 billion euros. Finally, companies spent more money on employee compensation.

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