German lubricants and chemical giants, Fuchs Petrolub and BASF, both celebrated successful years.
Fuchs revealed a 23.8% increase in revenues of €1.46bn ($2.02bn) in 2010, from a 15.5% fall in 2009 at €1.18bn ($1.64bn). Pre-tax earnings rose to €250m, a 39% improvement on the previous year.
Shareholders were set to benefit from the uplift with dividends of €2.7 for preference shares and €2.64 per ordinary share, both One Euro ($1.3) higher than the previous year.
The company benefitted globally from what it described as a "fast and strong recovery of the world economy" and stated it is planning further revenue growth in 2011 with a focus on research and sales as well as expanding infrastructure across the group.
Overall, Germany has been leading the way out of recession in Europe and this was further reflected by the annual figures from chemical specialist BASF. Pre-tax earnings soared to €8.1bn ($11.2bn a 68% improvement on the previous year, with record sales of €63.9bn ($88.6bn).
BASF was boosted by the acquistion of major competitor, Cognis, and took advantage of a strong recovery in the global chemicals market. Despite short-term concerns regarding the political situation in Libya, the company is optimistic for further expansion in 2011, with a focus on Asia and an increase in overall employee numbers by about 2,900 across the organisation.