In light of the sharp price declines of recent weeks, Vienna Stock Exchange is bundling the voice of Austrian listed companies. In an open letter, the Austrian capital market representatives address domestic and international investors. The executive boards reminds investors of their strengths, their stable planning and dividend policy, their excellent crisis management, their international market opportunities as well as their promising research & development activities.
Christoph Boschan, CEO of the Vienna Stock Exchange, encourages a long-term perspective: "It would be a mistake to turn away from Austrian stocks now. Currently, the Austrian national index ATX is trading far below its book value. In the opinion of Austria's leading companies, this picture is too pessimistic. Despite strict measures to contain the virus, the Austrian economy is by no means at a standstill, thanks to a high degree of digitalisation. The management believes in their companies, as the numerous manager's transactions of the last few weeks show."
Heimo Scheuch, CEO of Wienerberger and Chairman of the Supervisory Board of the Vienna Stock Exchange, sees no contradiction between production activities and the new requirements: "Austrian listed companies generate every 8th euro of domestic value added. The leading Austrian companies are well-positioned. With the right hygienic measures, I see no reason for stopping production. The risk group must of course be protected. It is precisely now that our jobs give us strength and stability. I would like to thank all the employees of the listed companies who are doing a great job these days. They are creating the basis for the trust in Austria as a business location.”
Attachement: Open Letter
