400,000 non-Linzers benefit from services provided by the city’s UGL

Since 2007, the group of companies has been submitting a voluntary consolidated balance sheet to the city of Linz (UGL). This doesn’t just affect Linz residents, as around 400,000 people outside the city limits also benefit from Linz AG. The UGL brings together numerous companies, from Linz AG to the tobacco factory, from senior centers to the airport, from GWG to the Donauparkstadion.

Linz AG is the largest investor

The consolidated balance sheet for 2022 presented today shows assets of 6.5 billion euros. The equity ratio is almost 39 percent, the investments of 364 million euros contributed significantly to stabilizing the economy in the Upper Austrian central area in the crisis year of 2022, said Mayor Klaus Luger (SP) and UGL managing director Christian Schmid. The largest investor is Linz AG with 162.1 million euros, followed by the city of Linz with 70.5 million euros and GWG with 43.5 million euros.

Equity ratio of 39 percent

Despite the investments, UGL’s equity increased by 109 million euros or six percent to exactly 2.07 billion euros. “Through its enormous investments, the City of Linz Group is making a significant contribution to strengthening Linz as a business location – both in the economically difficult years of the Corona period and during the subsequent crisis developments caused by the Russian attack on Ukraine,” said Luger.

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