BERLIN, Sept 12 (Reuters) - German small and medium-sized enterprises achieved strong results in 2022 despite the difficult overall economic situation, a report of the German Savings Banks Association (DSGV) showed on Tuesday.
"When the impression is given these days that nothing in Germany works anymore, I answer that small and medium enterprises work," said Helmut Schleweis, president of the DSGV, at the presentation of a study about small and medium enterprises.
Revenues rose last year by an average of 14% and profits by 17% year-on-year, the report showed.
High energy prices in Germany could make companies shift more of their production abroad, Schleweis said, pointing to another big challenge for the German economy.
"This would benefit not only a few large companies, but also medium-sized businesses."
Persons:
Helmut Schleweis, Schleweis, Maria Martinez, Klaus Lauer, Rachel More
Organizations:
German Savings Banks Association, Thomson
Locations:
Germany