ÖBAG figures 2024: Dividend collapses – new strategy concept in sight!

ÖBAG figures 2024: Dividend collapses – new strategy concept in sight!

Österreichische Beteiligungs AG (ÖBAG) will pay a significant dividend of 1.26 billion euros to the Republic of Austria for 2024. This corresponds to a decrease of around 25 percent compared to the 1.67 billion euros distributed last year. In this context, Economics Minister Wolfgang Hattmannsdorfer announced a realignment of ÖBAG in order to take Austria's strategic interests more into account. This decision follows a strategy process that was initiated to evaluate the existing strategic direction and to further develop the corporate and investment strategy. Leadersnet reports that on July 1st the Ministry of Economic Affairs, as the 100 percent owner of ÖBAG, will receive around 766.93 million euros.

The breakdown of the dividend shows that 175 million euros are attributable to a special dividend from OMV, while 496 million euros come from the Verbund distribution. The decline in the total distribution is also explained by the lack of special dividends from Bundesimmobiliengesellschaft (BIG) and a lower distribution from OMV. Surprisingly, around 100 million euros were postponed until next year at the request of the Ministry of Economic Affairs.

Personnel changes on the supervisory board

As part of this strategic reorientation, there were also personnel changes on ÖBAG's supervisory board. Günther Ofner and Michael Höllerer were confirmed for another three years. Helene Schuberth succeeds Susanne Höllinger, while Richard Köhler and Gerhard Bayer will serve on the board for another five years. In addition, Angela Schorna will join the supervisory board for OMV. ÖBAG board member Edith Hlawati is satisfied with the financial result despite the decline.

ÖBAG, which has its headquarters in Vienna and operates as a state-run holding company, plays a central role in the management of state holdings in companies such as OMV, Bundesimmobiliengesellschaft and Verbund. With a total portfolio value of around 32 billion euros, ÖBAG manages an extensive range of state investments. oe24 also highlights that at the last general meeting the ÖBAG board accepted a proposal for a distribution of 1.67 billion euros for 2023, an increase of around 7 percent compared to the previous year represents.

The development of ÖBAG

ÖBAG's history dates back to the late 1960s, when the Österreichische Industrieverwaltungs-GmbH was founded to centralize interests in nationalized companies. Over the years, the organization has undergone several restructurings, most recently in 2018, when ÖBIB was converted into a stock corporation and renamed as Österreichische Beteiligungs AG. Historically, there have been repeated protests by politicians, unions and works councils in connection with the privatization of ÖBAG's previous investments. These developments illustrate the continued relevance of ÖBAG in the Austrian economic structure, which is closely linked to the interests of the Republic. Wikipedia lists in detail the milestones of ÖBAG and their influence on Austria's economic history.