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Berlin’s 2024 State Firms Post Lower Profit as Senate Rejects Pay Cap Push

Finance officials cite one-off effects from the district-heating purchase, with investments rising alongside stronger equity.

Overview

  • State-owned and partly owned companies reported €232 million in net profit for 2024, down from €403 million a year earlier.
  • Profit-making entities delivered a combined €663 million, while other holdings posted €431 million in losses compared with €270 million in 2023.
  • Top earners included Berliner Wasserbetriebe (€164 million), Degewo (€109 million) and Stromnetz Berlin (€56 million), with BEW, berlinovo, BER, Vivantes and BVG among the biggest loss-makers.
  • Capital spending climbed to €4.6 billion and aggregate equity rose to €18.4 billion, with full-time positions increasing to 63,000 across 51 companies and nine public-law institutions.
  • Finance State Secretary Wolfgang Schyrocki rejected the SPD proposal to cap executive pay at the mayor’s salary, noting average CEO pay is 6.8 times staff and arguing a cap would hinder recruitment.