While Corona had resulted in even less income, higher expenses and thus a loss for the Austrian Federal Economic Chamber (WKÖ) in the first year of the pandemic, there was a trend reversal last year: the representation of interests returned to the profit zone. This emerges from the statement of accounts published on Wednesday, which will be submitted to the Economic Parliament for approval in June.
The result of the WKÖ reflects the recovery of the economy, said Vice President and Finance Officer Richard Schenz in a press release from the interest group. “The economic forecasts for 2021 were initially very cautious. In fact, the past year was characterized by a clear catching-up process overall.” In addition, the government’s corona aid would have contributed to a faster recovery of the economy, said Schenz.
About the figures: expenditure of 258.8 million euros was offset by income of 281.4 million euros. In addition, there is a financial success of around 1.2 million euros. After taxes, the Chamber had a profit of 23.5 million euros, which went into the reserves. In 2020 there was a loss of 26.4 million euros.
The main sources of income for the interest group are the companies’ compulsory membership fees via Chamber Contributions I and II. Income from Chamber Contribution I increased last year from 76.3 to 92.9 million euros, and that from Chamber Contribution II from 131.5 to 143. 3 million euros. Taken together, the income from both chamber allocations was 236.2 million euros and thus exceeded the pre-crisis level (222 million).
The WKÖ’s other sources of income include sales of goods and services (9.8 million) and other operating income (35.4 million), which, however, are often offset by corresponding expenses.
12.3 million corona tests
Personnel expenses remained almost the same as in the previous year at 136.8 million euros, material expenses fell from 140 to 122 million euros.
Schenz also referred to the Chamber’s support for the company’s corona tests. There were 12.3 million tests in around 3500 companies. The WKÖ website registered 73 million page views, the number of “personal service contacts” amounted to 1.5 million.
Source: Nachrichten
