ÖBAG numbers 2024: Dividend breaks-new strategy concept in sight!

ÖBAG numbers 2024: Dividend breaks-new strategy concept in sight!

The Österreichische Beteiligungs AG (ÖBAG) will release a significant dividend of 1.26 billion euros to the Republic of Austria for 2024. This corresponds to a decline of around 25 percent compared to the 1.67 billion euros that were distributed in the previous year. In this context, Economic Minister Wolfgang Hattmannsdorfer announced a realignment of the ÖBAG in order to take more attention to Austria's strategic interests. This decision follows a strategy process that was initiated to evaluate the existing strategic orientation and further development of the corporate and investment strategy. Leadersnet reports that on July 1st the Ministry of Economic Affairs, as a 100 percent owner of the ÖBAG, around 766.93 million euros will be closed.

The breakdown of the dividend shows that 175 million euros are not available on a special dividend of the OMV, while 496 million euros come from the release of the composite. The decline in the overall release is also explained by the absence of special dividends of the Federal Real Estate Society (BIG) and a lower release of the OMV. Surprisingly, around 100 million euros were postponed to the next year at the request of the Ministry of Economic Affairs.

Personnel changes in the Supervisory Board

In the course of this strategic reorientation, there were also personnel changes to the ÖBAG supervisory board. Günther Ofner and Michael Höllerer were confirmed for another three years. Helene Schuberth follows Susanne Höllinger, while Richard Köhler and Gerhard Bayer serve in the committee for another five years. Angela Schorna also moves into the Supervisory Board for the OMV. ÖBAG director Edith Hlawati is satisfied with the financial result despite the decline.

The ÖBAG, which has its headquarters in Vienna and acts as a state -run holding company, plays a central role in the administration of government participations in companies such as the OMV, Federal Immobilien Society and the network. With a total value of its portfolio of around 32 billion euros, ÖBAG manages an extensive range of government investments. OE24 also emphasizes that at the last general meeting, a proposal to distribute 1.67 billion euros for 2023 was accepted which represents an increase of around 7 percent compared to the previous year.

The development of ÖBAG

The history of ÖBAG goes back to the late 1960s when the Austrian Industrieverwaltungs-GmbH was founded to centralize the interests of nationalized companies. Over the years, the organization experienced several restructuring, most recently in 2018, when ÖBIB was converted into a stock corporation and renewed as an Austrian Beteiligungs AG. Historically, there were always protests from politicians, unions and works councils in connection with the privatization of previous investments by ÖBAG. These developments illustrate the continuous relevance of ÖBAG in the Austrian economic structure, which is closely linked to the interests of the republic. [Wikipedia] (https://en.m.wikipedia.org/wiki/%C3%96 ÖLTERISTICHE_ BEITIENGENGEN_AG) in detail the milestones of the ÖBAG and its influence on the economic history of Austria.