Dutch companies recorded record profits in the first quarter of this year. According to the statistics bureau CBS, all companies that are not in the financial sector together made a profit of 81.5 billion euros. That is the largest gain since the measurements started in 1999, says Statistics Netherlands.

    Statistics Netherlands emphasizes 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, mineral extraction, the petrochemical industry and energy companies recorded higher profits. This also had everything to do with the increased energy prices. The catering industry, travel agencies and aviation also managed to increase their results. This was again related to the reopening of the economies after the corona measures.

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

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