Despite the recessive macro-economic situation and increasingly difficult conditions on national and international research markets, the Centre for European Economic Research (ZEW) in Mannheim can look back on a very successful year 2008. As last year, ZEW again improved its profitability in the financial year 2008. The annual result 2008 shows that ZEW’s earnings rose to 15.48 million euro, notably exceeding last year’s result (14,47 million euro).