German companies with business relations to Russia and Ukraine are looking ahead to the coming months with great uncertainty. This is shown by a survey of 280 companies that we conducted. In particular, the drastic supply bottlenecks and price increases as well as the sanctions against Russia pose major challenges for companies.

As a result of the war in Ukraine, 46 percent expect a drop in sales and 47 percent a drop in earnings. In addition, 80 percent assume that the Ukraine war will negatively impact their company for longer than a year. Forty percent fear negative effects lasting longer than three years.