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2024/06/07 / Erste Group Research


ASFINAG is wholly owned by the Republic of Austria and is responsible for the planning, financing, construction, maintenance, operation and toll collection of Austria's entire highway and expressway network with a total length of 2,249 km.

With total assets of almost EUR 20bn and close to 3,200 employees, ASFINAG achieved annual revenues of around EUR 3.1bn in 2023 and a net result of EUR 844mn. The balance sheet and credit ratios hardly changed following a markedly positive trend.

ASFINAG is financed by the tolls it collects and via the capital market in the form of bonds. All ASFINAG issues are explicitly, unconditionally and irrevocably guaranteed by the Republic of Austria (Aa1/AA+/AA+). A refinancing requirement of EUR 900mn is planned for 2024.

ASFINAG has had an advanced ESG management system with comprehensive sustainability reporting since 2010, in accordance with GRI since 2016, with an audit since 2020.
Moody's awards an Aa1 rating, S&P an AA+ with a stable outlook in each case and thus an assessment equal to that of the Republic of Austria.

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General information

AuthorErste Group Research
Product typeweekly / bi-weekly
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Market cap-
AvailabilityAll [1]


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