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This blog article is inspired by our list of the most important companies in Germany, which also covers the largest companies in Hesse. The list provides you with comprehensive insights into the highest-revenue players in Hesse’s economy. In addition to current revenue and employee figures, you will also find valuable information on industry focus, managing directors, and contact details. The data is conveniently available as an Excel file for direct download.
Summary
Short answer: The largest company in Hesse in 2023 – based on the Researchgermany list of the largest companies in Hesse – is Deutsche Bank AG. According to the 2023 Annual Report, net interest income amounted to €57.8 billion. This places Deutsche Bank ahead of the Lufthansa Group (€35.4 billion), Heraeus (€25.6 billion), Fresenius (€22.3 billion), and Merck (€21.0 billion).
Comparison of the Largest Companies in Hesse (Revenue 2023)
The table shows the largest companies in Hesse by 2023 revenue, based on the Researchgermany Hesse company list. For Deutsche Bank, interest income is reported as revenue.
| Ranking | Company | Industry / Business Area | Revenue 2023 (€m) | Employees 2023 | Headquarters (City) | Website |
|---|---|---|---|---|---|---|
| 1 | Deutsche Bank AG | Bank – Financial Services | 57,802 | 87,777 | Frankfurt am Main | db.com |
| 2 | Deutsche Lufthansa AG | Transport – Airline | 35,442 | 35,036 | Frankfurt am Main | lufthansagroup.com |
| 3 | Heraeus Holding GmbH | Industry – Technology & Chemistry | 25,649 | 15,777 | Hanau | heraeus.com |
| 4 | Fresenius SE & Co. KGaA | Healthcare – Medical Technology, Hospitals | 22,299 | 191,729 | Bad Homburg | fresenius.de |
| 5 | Merck KGaA | Chemistry – Healthcare & Life Science | 20,993 | 62,908 | Darmstadt | merckgroup.com |
Why Deutsche Bank Leads
- Earnings strength: The 2023 Annual Report reports net interest income of €57.8 billion.
- Stabilization after crisis: The bank achieved pre-tax profit of €5.7 billion, reflecting the successful transformation.
- Core areas: Deutsche Bank operates in four main business segments: Corporate Bank, Investment Bank, Private Bank, and Asset Management (DWS). All segments contributed positively to results in 2023.
- Capital strength: The Common Equity Tier 1 (CET1) ratio stood at 13.7%, and the leverage ratio at 4.7%.
- Importance for Hesse: As a globally active major bank headquartered in Frankfurt, Deutsche Bank is not only the largest financial player in Hesse but also a central player in the European banking system.
Competitor Assessment
Lufthansa benefited in 2023 from the strong air traffic recovery after the pandemic but, with €35.4 billion, remains clearly behind Deutsche Bank. Heraeus recorded €25.6 billion, Fresenius €22.3 billion, and Merck €21.0 billion. These companies are important global players but smaller in revenue compared to Deutsche Bank.
Methodology & Data Basis
Ranking by consolidated revenue 2023, based on respective annual reports. For banks, net interest income is counted as revenue. Cut-off date: 02.09.2025.
Source
- Deutsche Bank AG Annual Report 2023 (information on income, business segments, profit development, and capital ratios).
- Researchgermany list of the largest companies in Hesse
Image source: Tobias Reich, 08.09.2026
Last Updated on 5 months ago
