Economica Report: NOVOMATIC Contributed About 2.1 Billion Euros to the Austrian Economy in Recent Years

By | November 15, 2023
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NOVOMATIC’s Economic Footprint is significant at both macroeconomic and regional levels. The enterprise contributes substantially to economic output, value-added, employment and taxes in Austria.

Austria’s leading private economic research institute, Economica, has calculated the macroeconomic importance of the NOVOMATIC group for Austria using empirical economic research methodology to analyse economic relationships. The results show that NOVOMATIC continues to make a significant contribution to the local economy on a consistent and continual basis.

In 2022, the NOVOMATIC Group directly generated almost a half billion euros in gross value-added. The total aggregate value-added effect even adds to over 700 million euros. In the period from 2019 to 2022, NOVOMATIC’s domestic value-added including the domestic upstream supply chain network – in spite of challenges associated with the coronavirus pandemic – came to a total of approximately 2.1 billion euros.

One out of every 570 euros in Austria

This means that one out of every 570 euros of value-added generated in Austria in 2022 was directly or indirectly attributable to NOVOMATIC. The company’s location in Lower Austria means that this state benefits even more from the economic strength of this leading Austrian company.

“Our value creation analysis shows that one in every 150 euros in Lower Austria is generated in connection with NOVOMATIC,” explains study author DI Helmut Berrer.

High impact on employment

Also in 2022, NOVOMATIC had approximately 3100 employees in Austria. Due to the purchase of upstream services, almost 2700 additional jobs are secured or created in Austrian supplier companies along the value chain.

In addition, the wages and salaries paid by NOVOMATIC and its affiliated companies, which are well above the Austrian average for employees, make a significant contribution to the country’s prosperity, totaling about 260 million euros per year.

“This shows the great importance of NOVOMATIC as a national and regional employer, since the company secures a total of almost 6000 jobs in Austria,” said Mag. Stefan Krenn, authorised representative of NOVOMATIC AG.

Tax revenue higher than tourism tax

Due to its strong economic performance and large workforce, NOVOMATIC is one of the largest payers of taxes and social security contributions in Austria. The total government revenue generated by NOVOMATIC amounted to 266 million euros in 2022, exceeding for example the total volume of Austria’s tourism tax.

Forward-looking investments in research and development

Significant investments are made each year in research and development to ensure that this positive development continues in the future. This high level of investment is also reflected in the registration of numerous intellectual property rights. In total, the company holds more than 5000 patents and trademarks.

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