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Our list of the largest companies in NRW provides you with comprehensive insights into the highest-revenue players in North Rhine-Westphalia’s economy. In addition to current revenue and employee figures, you will 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: Deutsche Telekom AG remains the largest company in North Rhine-Westphalia in 2023 with revenue of €111.97 billion – based on the exclusive Researchgermany company list for NRW. The 2023 Annual Report shows that Telekom, through strong growth in the US market, stable results in Europe, and high investments in networks and digitalization, has maintained its leading position over Uniper, Deutsche Post (DHL Group), E.ON, and REWE.
Comparison of the Largest Companies in North Rhine-Westphalia (Revenue 2023)
The following table is based on the 2023 consolidated financial statements (as of 02.09.2025) and shows the largest NRW companies by revenue, based on the Researchgermany list of the largest companies in NRW:
| Ranking | Company | Industry / Business Area | Revenue 2023 (m €) | Employees 2023 | Headquarters (City) | Website |
|---|---|---|---|---|---|---|
| 1 | Deutsche Telekom AG | Telecommunications – Mobile & Fixed Line | 111,970 | 204,856 | Bonn | telekom.de |
| 2 | Uniper SE | Energy – Power Generation | 107,915 | 7,008 | Düsseldorf | uniper.energy |
| 3 | Deutsche Post AG (DHL Group) | Logistics – Parcel & Mail | 94,436 | 569,266 | Bonn | deutschepost.de |
| 4 | E.ON SE | Energy – Utility | 93,686 | 71,629 | Essen | eon.com |
| 5 | REWE-ZENTRALFINANZ eG | Retail – Food Retail | 83,987 | 255,349 | Cologne | rewe-group.com |
Why Deutsche Telekom Leads in 2025
- Revenue stability and international growth: The 2023 Annual Report highlights that Telekom was able to keep its revenue of €111.97 billion almost stable. Particularly strong growth came from the US business via T-Mobile US, which now contributes more than half of the group’s revenue (cf. pp. 32–34).
- Strong free cash flow: The group achieved an adjusted free cash flow of more than €16 billion in 2023, underlining its financial strength (cf. p. 80).
- Investments in networks: With investments of around €21 billion in 2023, most of it in 5G and fiber rollout, Telekom remains the market leader in network quality in Germany and Europe (cf. pp. 45–47).
- Number of employees: With around 205,000 employees worldwide, over 100,000 of them in Europe, Telekom remains a key employer with high economic significance.
- ESG strategy: The report highlights progress in sustainability, including the goal of climate neutrality by 2040, the use of renewable energy, and sustainable supply chains (cf. pp. 98–101).
Competitor Assessment
Uniper managed to stabilize after the 2022 energy crisis and, with €107.9 billion, shows high revenue but still trails Telekom. Deutsche Post (DHL Group) reached a record level again in 2023 with €94.4 billion, especially due to the parcel business. E.ON benefits from stable network earnings but remains below the €100 billion mark. REWE continues to grow in food retail but is clearly positioned below Telekom in terms of revenue and margins.
Methodology & Data Basis
Ranking by consolidated revenue 2023. Based on published annual reports and financial statements. Cut-off date: 02.09.2025 – at this time, the 2023 figures are the most current available in the company register.
Source
- Deutsche Telekom Annual Report 2023 (figures on revenue, free cash flow, investments, ESG strategy, T-Mobile US).
Image source: Nathan Anderson, 08.09.2026
Last Updated on 4 months ago
