Investor Klemens Hallmann came under pressure with his holding company: in the network balance that has just been stored, there is a loss of 168 million euros for 2023.
It was the year of bitter truths for Klemens Hallmann: the late group of his Hallmann Holding, published, shows the true size of the crisis year 2023: the Bottom Line is a loss of 168 million euros; The year before, Hallmann had a profit of 82.7 million euros.
Especially painful: the deconsolidation of the Süba group, which recently slid into bankruptcy, a gap of 87.7 million was collected. The debacle at Cyber Security Company Cyan AG, which was first integrated into the group result, also cost another 20 million euros.
Even more dramatic: the decades of the growth motor of the Hallmann Group, the real estate trade, clearly came to a halt in 2023. No sale, zero new income from the core activities. At the same time, hardly any investments were made. New loans are also not successful in the consolidated financial statements.
A spokesperson for the Hallmann Holding announced the apparent stagnation in the real estate sector that this was only due to the “Desconoliding of Süba”: in 2023 Hallmann Holding sold “Real Estate through share deals worth 36.6 million euros”. These would be shown in the group balance under the “financing result”.
Upgrading real estate
Despite a desperate attempt to reveal the property of 81 million euros, the operational cash flow 2023 remained deep red – minus 69 million.
Although the stock ratio rose from 37.5 to 42.2 percent, equity in reality: from 550 to 403 million euros. This was made possible by a huge balance that is cut.
In the case of the financial obligations, the debt mountain fell considerably to 435 million euros, but around 350 million of them will be due in the next five years. The benches are suddenly on the longer lever.
Financial Expert: “Some banks played Casino”
Hallmann must depend on the grace of his lenders without sales and new income. Renovation can only be achieved if the banks grant generous term extensions if necessary. Assessment gains on paper usually help little.
It is clear to financial experts Gerald ZMUEGG: in 2023 Hallmann Holding had to follow the hard renovation path – with staff possession, dividend stop and an iron austerity course. But not only Hallmann, the banks also get their fat away: ZMUEGG increases serious allegations against institutes that have granted light loans for years. A practice that was ultimately exposed to the collapse of Benkos Signa.
ZMUEGG’s conclusion: “Austria is the end of Europe today – also because some banks played during the Boom Casino.” Some institutions would have granted the loans in the past in a way “that they were already in need when they are granted.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
