Ein Plakat der BVG mit dem Slogan

Keeping the wheels turning.

Since 2014, the BVG has posted positive annual balance sheets for five years in a row. Last year, however, earnings at the BVG and the group as a whole were significantly below target, with annual net profit falling 59.5 million euros short of the forecast figure of 1.4 million euros. The group’s net income (-58.1 million euros) is thus 71.3 million euros down on the previous year’s figure of 13.2 million euros.

This was in large part due to the collective wage agreement of 2019, which resulted in significantly higher staff costs than scheduled. Taking into account this specific impact, the Management Board is generally satisfied with developments over the financial year and optimistic about future prospects.