Insolvency shock! Hallmann Group with 200 million euros liabilities!

Insolvency shock! Hallmann Group with 200 million euros liabilities!

The Austrian real estate landscape faces challenges, as the latest bankruptcy of Süba AG, a developer of the Hallmann Group, shows. The Hallmann Group, under the direction of Klemens Hallmann, has liabilities that are expected to be over 200 million euros. The bankruptcy meets an already tense market in which loan rates have risen and the property prices have decreased, which leads to a reserved buyer mood. This development has strengthened since mid-2022, as "https://www.oe24.at/businesslive/unternehücken/massiver-gewinneinbruch-und-kurzen-fuer-fuer-schulden-der-giftigen-fuer-hallmann/62989726"> Oe24.at

In recent years, Hallmann Holding International Investment GmbH, based in the first district of Vienna, has continued to slip into the red numbers. The last available balance sheet as of December 31, 2023 shows equity of 281.5 million euros, but the liabilities have increased: 106.4 million euros compared to around 61 million euros in 2019. In addition, holding assumes liability for project companies in the amount of around 122 million euros, which further increases the financial burden.

financing and short -term liabilities

A central problem for the Hallmann Group is the financing of your liabilities. Only 2.5 million euros in debt have a term of more than five years. While short terms are usually cheaper, the market situation has now intensified, so that banks and investors are not very inclined to accommodate the duration when inquiries. This negative mood is also influenced by the bankruptcy of Signa, the most prominent bankruptcy case in the Austrian real estate industry, which made headlines with creditors towards the end of 2023, such as Kleinezeitung.at reported.

The Hallmann Group has several significant investments, including the Währinger Gürtel 162 ownership company and Leopold-Böhm-Straße 8 Beteiligungs GmbH. Nevertheless, in contrast to Signa, Hallmann did not realize any significant profits from revaluation. The determined values ​​of the investments amount to around 226 million euros, in view of the lack of financial stability, a worrying condition.

market development and other bankruptcies

The Hallmann Group's problems are part of a larger trend in the real estate sector. The number of bankruptcies among builders increases, which is also evident in the cases of BBB Immo GmbH and the Vienna group IMFARR. These companies face the millions in the millions, and some have already had to go into bankruptcy. The economic climate remains unsafe, especially with the steadily increasing interest and intensified residential credit regulations.

The situation is alarming for many participants in the real estate market. The bankruptcy of Hallmann and the challenges that other companies look at illustrate the need for a more risk -conscious approach in the industry to avoid future setbacks. It remains to be seen how this development will affect the market as a whole and whether a recovery of the buyer's mood is emerging in the near future.