Many companies increased their profitability during the phase of rising prices. But the tide has turned.
Businesses have weathered the surge in inflation in recent years quite well. During this phase of price increases, many large groups managed to improve their profitability. CAC 40 companies thus earned 149 billion euros in net profits last year, compared to 82 billion in 2019 before the health crisis and the inflationary surge. The CAC 40 champions have invested massively. Their investments increased by 17% on average over the three years following the pandemic to exceed 100 billion euros last year, according to EY. The French flagships also took advantage of this prosperous period to look after their shareholders. In 2023, the latter will receive a total of 97 billion euros, between dividends (67 billion) and share buybacks (30 billion).
Companies have in fact adapted perfectly to the rise in prices. Inflation is a two-stage phenomenon…
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