OWH i.L. publishes annual financial statements for 2023

Liquidators satisfied with the progress of the liquidation

27.06.2024

In the short financial year from 1 April 2023 to 31 December 2023, Frankfurt-based company OWH i.L. (OWH), which is in liquidation, was able to reduce its total assets by around a third from EUR 3.6 billion to EUR 2.4 billion. The sharp decline is primarily due to the further repayment of loans granted. Loans and advances to customers fell from EUR 2.1 billion to EUR 1.5 billion.

The total remaining liabilities of around EUR 1.1 billion are offset by loans and advances to banks and customers totalling around EUR 1.7 billion. In addition, OWH has cash reserves of over EUR 0.2 billion and equity of EUR 0.9 billion at the end of 2023.

“We are very satisfied with the progress of the liquidation,” says CFO Miro Zadro, one of the two liquidators of OWH. “We have succeeded in repaying loan commitments ahead of schedule to a far greater extent than we had hoped. In addition, OWH is and will remain comfortably financed. We are very optimistic that we will conclude the liquidation of OWH with a good result.”

The annual report with all the details and further explanations can be downloaded from the OWH website at following link .