The European corporate sector is closing 2025 on an optimistic note, publishing a series of impressive financial results. Insurers such as Allianz and Axa are reporting record profits, while environmental services giant Veolia is exceeding forecasts thanks to its merger with Suez. Despite losses at the European Central Bank stemming from interest rate policy, the commercial market is showing strong resilience to inflation and commodity price volatility.

Records in the Insurance Sector

Allianz and Axa announced historic profits for 2025, raising dividends for shareholders thanks to high technical profitability.

Reduction of ECB Losses

The European Central Bank reduced its loss by over 80% year-on-year, an effect of lower debt servicing costs.

Expansion of Dia and Veolia Groups

Dia returns to profits and plans to open 100 stores, while Veolia strengthens its position as a leader in municipal services following its merger with Suez.

Analysis of financial reports for 2025 indicates a significant improvement in the financial health of key European market players. German insurance giant Allianz announced an operating profit of a record 17.4 billion euros, allowing it to raise its dividend by 11% to 17.10 euros per share. A similar trend was noted by the French group Axa, whose net profit reached a historic 9.79 billion euros. These companies have effectively absorbed inflationary pressure, passing higher costs onto increased premiums while maintaining operational discipline. A completely different situation is presented by the European Central Bank, which recorded a loss of approximately 1.3 billion euros in 2025. However, this result is significantly better than last year's deficit of 7.9 billion euros. The improvement stems mainly from reduced interest expenses following the lowering of interest rates. The institution emphasizes that its goal is not to generate profit, but to fight inflation, and the current negative results are a consequence of earlier bond purchases at low interest rates. Following the energy and inflation crisis of 2022–2023, European corporations underwent deep portfolio restructuring, focusing on cost efficiency and service digitalization. In the energy and industrial sector, the Italian group Eni stood out, which, despite falling oil and gas prices, generated nearly 5 billion euros in adjusted net profit. Meanwhile, Siemens Energy is returning to dividend payments for the first time since 2022, proposing 0.70 euros per share after achieving 1.68 billion euros in profit. The Veolia group also announced success, with revenues exceeding 44 billion euros. The company finalized its integration with Suez's assets, enabling it to achieve record profitability and strengthen its position in the US in the water technology sector. „L'année 2025 a été véritablement charnière, nous avons achevé l'intégration de Suez et accéléré la transformation du groupe vers une croissance internationale et technologique.” — CEO of the French group Veolia. In the retail market, the Spanish group Dia returned to profitability, recording a positive 129 million euros compared to a previous loss. The company plans aggressive expansion, aiming to open 100 new stores in 2026. Positive signals are also coming from sausage casing manufacturer Viscofan and construction company Cox, which reported double-digit revenue growth. Even in the car rental sector, Hertz, despite losses, shows an improvement in results of nearly 60%, indicating the ongoing transformation of the transport sector.

Mentioned People

  • Claudio Descalzi — CEO of the Italian energy conglomerate Eni.
  • Estelle Brachlianoff — CEO of the French group Veolia.
  • Martin Tolcachir — Global President of the Spanish retail group Dia.
  • Oliver Bäte — CEO of insurer Allianz.