2024-03-20 11:02:23
Federal Council
Bern, 03.20.2024 – At its meeting on March 15, 2024, the Federal Council took note of the report of the board of directors of RUAG International Holding SA concerning the achievement of the objectives during the 2023 financial year. The strategic objectives it had set were achieved to a large extent, starting with the privatization process, which continued successfully.
The Federal Council defines four-year strategic objectives for companies belonging to the Confederation. They are required to inform it each year of their progress. In 2023, RUAG International achieved most of the strategic objectives set by the Federal Council, with the exception of those relating to operational activity.
Further privatization
RUAG International continued the privatization decided by the Federal Council, carrying out further divestments. The sites in Oberpfaffenhofen (DE) and Eger (HU), which were part of the RUAG Aerostructures division specializing in the construction of aircraft components, were sold to the German company Mubea at the end of 2023. In addition, RUAG International has negotiated with the Swiss company PILATUS Constructions SA the sale of the production facilities it owns in Emmen as well as the gradual takeover of the approximately 230 people employed at this site. The contract was signed in January 2024. During the 2023 financial year, RUAG International also transferred its land in Zurich Seebach to the city of Zurich.
The privatization process of RUAG International will end with the sale of its space sector (Beyond Gravity). This should take place by the end of 2025 at the latest. The Federal Council expects RUAG International to prepare the sale carefully in order to fulfill the general conditions for the divestment of Beyond Gravity that it set in the strategic objectives for the years 2024 to 2027 (see press release of November 29, 2023).
Influence of the privatization process on financial results
As in the previous year, divestments weighed on the financial results of RUAG International for the 2023 financial year. Thus, net turnover fell to 620 million francs (compared to 945 million in 2022), while operating profit reached 28 million and net profit 1 million. Operational activity, on the other hand, ended in a negative result due to low demand for aircraft components (RUAG Aerostructures) as well as the ongoing transformation and development of the space sector (Beyond Gravity).
However, the sales proceeds generated so far in the privatization process enable RUAG International to pay a new special dividend to the Confederation. This should amount to 150 million for the 2023 financial year.
Address for sending questions
Philipp Rohr, communications manager,
Federal Finance Administration AFF,
no phone +41 58 465 16 06, kommunikation@efv.admin.ch
Auteur
Federal Council
1710934623
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