Of course, the recession hit Linz AG in full. “However, we have been able to fully fulfill our supply mandate and have never invested so much,” said Erich Haider, General Director of Linz AG, in an interview with OÖNachrichten.
The company presented its annual financial statements yesterday, which at first glance show a stable development. Compared to the previous year, sales fell minimally from 829.8 to 828.6 million euros. “But we missed our target sales by 24 million euros,” says Haider. The pandemic also left its mark on the result. “Corona cost us a total of 11.5 million euros,” says Haider.
The subsidiary Linz Linien in particular suffered a decline in sales of around ten percent to around 54 million euros. “Because of the high fixed costs, that is almost one to one in the result. That was just under six million euros,” says Haider. The decrease in the number of passengers was up to 80 percent.
The electricity and gas pandemic had an impact of 1.5 million euros on earnings. It was 1.3 million euros for the bathrooms and 0.5 million for waste. And the container terminal has also lost around 1.5 million euros, according to Haider.
“Bright spot on the horizon”
The business in the container terminal in the port of Linz is now “a bright spot on the horizon”. In the last quarter of 2020, sales were only two percent below the 2019 level, and in December the decline was only 0.2 percent. “The container business is a kind of seismograph for economic development,” says Haider. The fact that they are almost back to the level they were before the crisis made him confident for the near future.
No compromises on investments
No compromises have been made in terms of investments. On the contrary: With a volume of 138 million euros, they have never invested as much as in the previous year. This stabilizes the demand of the regional economy.
In addition, no new debt had to be incurred for these investments. “We finance everything from our cash flow,” says Haider. There was no short-time work. Of the 3192 employees, around 420 are currently working from home. (hn)
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/cloudfront-us-east-1.images.arcpublishing.com/dmn/KGDWII7YD5BWXL7JM34OFBQ774.jpg "Dallas College will also enroll people who want to get vaccinated against covid-19")
