Novomatic contributed approximately $2.3B to Austrian economy in recent years, according to study

Novomatic has contributed about €2.1 billion ($2.3 billion) to the Austrian economy in recent years, according to a study by private economic research institute Economica, which calculated the macroeconomic importance of the group for Austria using empirical economic research methodology.

In 2022, the company directly generated almost a half billion euros in gross added value. The total aggregate effect of the added value reaches over 700 million euros, which shows Novomatic continues to make a significant contribution to the local economy on a consistent and continual basis, according to the company.

From 2019 to 2022, Novomatic’s domestic added value including the domestic upstream supply chain network – despite challenges associated with the coronavirus pandemic – amounted to approximately €2.1 billion ($2.3 billion).

The study highlights that one in every 570 euros of added value generated in Austria in 2022 was, directly or indirectly, attributable to Novomatic. The company emphasized that its location in Lower Austria means that this state benefits even more from its economic impact.

“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.

Also in 2022, the company had approximately 3,100 employees in Austria. Due to the purchase of upstream services, nearly 2,700 additional jobs were secured or created in Austrian supplier companies along the value chain.

Novomatic's Mag. Stefan Krenn

Furthermore, the wages and salaries paid by the group and its affiliated companies total about €260 million ($273 million) per year. “This shows the great importance of NOVOMATIC as a national and regional employer since the company secures a total of almost 6,000 jobs in Austria,” explains Mag. Stefan Krenn, authorized representative of Novomatic AG.

Additionally, the study highlights tax contributions. The total government revenue generated by Novomatic amounted to €266 million ($292.6 million) in 2022, exceeding, for example, the total volume of Austria’s tourism tax.

The group also emphasized significant investments in research and development, which is reflected in the registration of several intellectual property rights. In total, the company holds more than 5,000 patents and trademarks.