2023-05-23 15:01:17
Wide range of information and services to support and manage the crisis for local companies
Vienna (OTS) – The unexpectedly rapid economic recovery following the Covid-19 pandemic and the consequences of the various crises have shaped the budgetary development of the Austrian Federal Economic Chamber (WKÖ) in the past year. This is shown by the financial statements for 2022, which have been sent to the finance committee of the WKÖ and will be available for approval by the economic parliament in June.
“The economic recovery following the pandemic continued at the beginning of 2022 – and even more clearly than hoped. The energy price crisis with extreme price increases and the massive increase in inflation as a result of the Russian war of aggression once morest Ukraine were also not foreseeable in the dimensions that occurred,” explains WKÖ Vice President and Finance Officer Wolfgang Hesoun.
Domestic companies were once once more confronted with immense challenges as a result of the numerous crises. “There was no talk of normal operations in 2022 either – neither for the economy as a whole, nor for the companies or the Chamber of Commerce. As WKÖ, we were faced with massive demands in the representation of interests and have further expanded our range of services for members in order to support the companies in overcoming the crisis accordingly.
Extensive service offerings for companies are well received
For example, the WKÖ has established a comprehensive service for companies in connection with the Ukraine war and, with the energy information point for companies at wko.at, provides ongoing updates, current data and important information on the subject. The support of the companies in view of the energy crisis as well as necessary relief measures were also the focus of the interest-political work of the WKÖ.
In addition, the digital information and advice offer was pushed with great success. This is shown, among other things, by the 150 webinars conducted by the WKÖ with more than 12,000 participants. With a view to the No. 1 hot topic, the shortage of skilled workers and workers, the IT job days held for the first time in 2022 as part of the international skilled workers offensive of the WKÖ also met with great interest. Around 54 million hits on wko.at, around 221,000 hits on the energy info point, 100,000 educational and career counseling sessions and over 327,100 participants in WIFI courses, 45,000 export counseling sessions for around 62,300 export companies and 45,200 start-up consultations for prospective entrepreneurs.
Statement of accounts 2022 in detail
The Austrian Federal Economic Chamber is financed from the chamber contributions, which totaled almost EUR 262 million in 2022 and were therefore 16.2% above the planned value. Income from chamber levy 1 amounted to around EUR 108.5 million, and that from chamber levy 2 to around EUR 153.5 million. Sales of goods and services amounted to EUR 19.3 million, almost reaching the pre-crisis level, although restrictive Covid regulations and regional lockdowns, especially in Asia, still had a negative impact on event activity and travel volume, especially in the first half of the year. The other operating income of EUR 50.6 million includes, for example, refunds for projects and cost reimbursements, which are offset by corresponding expenses. This also includes the reversal of the provision for funds from the Corona support fund that are no longer required. Personnel expenses (including pensions) were kept stable at EUR 139.8 million in the previous year. Material expenses totaled EUR 130 million and were therefore below budget.
The operating result in 2022 was EUR 62.1 million, plus the financial result of around EUR 1.1 million, resulting in earnings before taxes of EUR 63.2 million. After taking into account the capital gains tax of EUR 0.2 million, there is a result following taxes of EUR 63.0 million, which is due to the allocations, which were well above plan, the reversal of the provision for the Corona support fund and the lower material expenses results.
With the additional income, the building reserve for the improvement and expansion of the international network will be endowed with EUR 30 million. Furthermore, in the run-up to the Chamber of Commerce elections in 2025, the allocation of the electoral reserve required by the budgetary regulations to cover election expenses will be made with EUR 3 million. A further EUR 30 million will be allocated to the equalization reserve, which is used to cover unforeseen fluctuations in expenses and income.
“The current geopolitical upheavals and the associated economic effects show that a powerful service organization and lobby for domestic companies is essential. As in the last crisis year, the Chamber of Commerce will continue to stand by the side of Austrian companies with great commitment and a wide range of services,” emphasizes WKÖ Vice President Hesoun in conclusion. (PWK154/SR)
Questions & contact:
DMC – Data & Media Center
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E DMC_PR@wko.at
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