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According to recent research, global businesses have suffered profit losses of up to $320 billion since 2017. This staggering figure is not a result of poor corporate management, but rather a direct consequence of global economic fluctuations and geopolitical uncertainty.
The report from Ernst & Young - Parthenon reveals this shocking reality. The survey covered nearly 3,500 publicly traded companies with annual revenues exceeding 1 billion dollars and found that they suffered severe blows during significant challenges faced by the global economy, such as inflation, war, and market turbulence. This impact has spread to every corner of the globe, with no region being spared.
Mats Persson, the UK macro and geopolitical strategy director at Ernst & Young Parthenon, pointed out that we have said goodbye to an era of easy profits and geopolitical stability. He emphasized that after years of low-cost funding and a relatively stable geopolitical environment, a series of macro changes from trade frictions to global conflicts means that government policies and global events have a more significant impact on corporate value and profits than in the past few decades.
Research also shows that approximately 25% of the surveyed companies experienced a decline in their profit margins (measured by EBITDA) of 5% or more over the past three years. This period coincided with a series of significant events in the global market, including soaring inflation, Russia's war in Ukraine, turmoil in the UK gilt market, and the conflict between Israel and Hamas.
It is noteworthy that Chinese companies have been hit the hardest in this global economic storm. However, companies from other countries have shown varying performances, with some demonstrating strong resilience to risk.
This report undoubtedly serves as a wake-up call for global businesses. In this uncertain era, companies need more flexible and resilient operational strategies to cope with the constantly changing global economy and geopolitical landscape. At the same time, it also highlights the importance for enterprises to strengthen risk management, diversify operations, and enhance adaptability.