We can look back on a year of huge challenges. At the beginning of 2022, many were still hoping to see a return to some sort of normality after the end of the coronavirus pandemic. Those hopes were dashed when Russia waged its war of aggression in the middle of Europe. The human suffering in Ukraine is immeasurable. We feel the serious economic repercussions every day and worldwide: in companies, but above all as people. As is so often the case, the greatest burden is borne by those who already need protection and help.
This situation demands exceptional action from policymakers and society. Solidarity cannot be delegated. It is a matter for all of us. We in the RAG-Stiftung also addressed this responsibility intensively in the past year.
We strive to accomplish our tasks with great continuity and reliability. In a difficult environment, we again fulfilled the mission enshrined in our articles of association in 2022, namely to meet the costs for perpetual obligations of the coal mining industry from current income. We were able to further reduce expenses for that to 247 million euros. The foundation’s net annual profit surpassed expectations at 347 million euros. Not least, that means we remained a reliable partner for the recipients of our funding. For example, we were able to help alleviate acute need under a special budget for Ukraine aid.
The RAG-Stiftung once again demonstrated robustness and resilience in the crisis year 2022. We believe that this foundation means we are well positioned moving ahead.
Chairman of the Board of Executives of the RAG-Stiftung