Obersteirische Rundschau Medien
Company Overview
Obersteirische Rundschau Medien GmbH is an Austrian regional publisher headquartered in Bruck an der Mur, Upper Styria. Established in 2012, the company specializes in publishing journals and periodicals serving the Upper Austrian media landscape. Operating as a limited liability company with a share capital of €40,000, the publisher maintains a focused editorial operation with regional influence in one of Austria’s economically significant industrial areas.
As of FY 2025, Obersteirische Rundschau Medien employs 10 staff members and serves local readership and advertisers across Upper Styria. The company received €150,000 in state aid under Austria’s COVID-19 bridge loan guarantee scheme in May 2020, reflecting pandemic-related challenges to the regional publishing sector.
Ownership and Leadership
Michael Wasshuber serves as Managing Director, with Marco Wasshuber as shareholder. Simone Rittenbacher holds the position of authorized signatory (ppa). The organizational structure underwent significant transition in 2023, with previous Managing Directors Gertrude Wolny and Karl Huber departing in July 2023 and being replaced as shareholders by the current management structure on September 28, 2023. This leadership transition coincides with the company’s most severe financial deterioration.
Latest Financial Results (FY 2025)
Key Figures (Year ended June 30, 2025):
| Financial Metric | EUR (thousands) | Prior Year FY 2024 |
|---|---|---|
| Balance Sheet Profit (Bilanzgewinn) | €26,924 | €81,004 |
| Total Equity | €68,874 | €122,954 |
| Total Assets | €237,043 | €307,463 |
| Equity Ratio | 29.1% | 40.0% |
| Return on Equity | 8.6% | 65.9% |
| Cash on Hand | €90,142 | €175,614 |
| Receivables | €103,037 | €78,934 |
| Employees | 10 | 10 |
Revenue Performance
Based on statistical estimates in company filings, revenue showed volatility across the five-year period:
| Fiscal Year | Estimated Revenue | Year-over-Year Change |
|---|---|---|
| FY 2021 | €2,200,000 | — |
| FY 2022 | €2,200,000 | Flat |
| FY 2023 | €1,200,000 | -45.5% |
| FY 2024 | €2,100,000 | +75.0% |
| FY 2025 | €2,400,000 | +14.3% |
Important Note: These revenue figures are statistical estimates and represent the auditor’s estimates rather than audited turnover figures. No actual revenue/sales (Umsatz) line item appears in the published balance sheet documents.
Profit Performance – Audited Balance Sheet Data
The most striking finding in the financial data is the collapse in profitability, measured by Balance Sheet Profit (Bilanzgewinn) from official audited financial statements:
Five-Year Profit Trend (in EUR):
| Period | Balance Sheet Profit | Change |
|---|---|---|
| FY 2021 | €83,467 | — |
| FY 2022 | €117,643 | +40.9% |
| FY 2023 | €134,012 | +13.9% (Peak) |
| FY 2024 | €81,004 | -39.6% |
| FY 2025 | €26,924 | -66.8% |
Key Findings:
The company reached peak profitability in FY 2023 with €134,012 in balance sheet profit. Since then, profits have declined catastrophically: -79.9% from peak to FY 2025. The deterioration accelerated sharply in FY 2025, with profit collapsing by two-thirds from the prior year.
Critical Financial Deterioration (FY 2025 vs FY 2024)
Year-over-year changes reveal a severe financial crisis:
Profitability:
- Balance Sheet Profit: €81,004k → €26,924k (-66.8%)
- Return on Equity: 65.9% → 8.6% (-92% decline)
Balance Sheet Structure:
- Total Assets: €307,463k → €237,043k (-22.9%)
- Total Equity: €122,954k → €68,874k (-44.0%)
- Equity Ratio: 40.0% → 29.1% (-10.9 percentage points)
Working Capital & Liquidity:
- Cash on Hand: €175,614k → €90,142k (-48.7%)
- Receivables: €78,934k → €103,037k (+30.5%)
- Liabilities: €143,520k → €124,929k (-13.0%)
Operational:
- Employees: Stable at 10 (no reduction despite financial stress)
Equity Deterioration – Five-Year Analysis
Total equity (Eigenkapital) shows an alarming trend:
| Period | Total Equity | Change | Equity Ratio |
|---|---|---|---|
| FY 2021 | €125,417 | — | 42.2% |
| FY 2022 | €159,592 | +27.3% | 55.5% |
| FY 2023 | €175,962 | +10.3% (Peak) | 52.1% |
| FY 2024 | €122,954 | -30.1% | 40.0% |
| FY 2025 | €68,874 | -43.9% | 29.1% |
The equity position has deteriorated dramatically from the FY 2023 peak of €175,962k to just €68,874k in FY 2025—a decline of 60.9%. The equity ratio fell from 55.5% (FY 2022) to 29.1% (FY 2025), a loss of 26.4 percentage points. At 29.1%, the equity ratio is now below the 30% threshold, indicating heightened financial risk.
Notable Findings and Insights
1. Sustained Profit Crisis from FY 2023 Peak The company peaked at €134,012 in balance sheet profit in FY 2023. The subsequent two-year decline of 79.9% to €26,924 in FY 2025 represents a fundamental collapse in profitability. This is not a temporary downturn but an accelerating deterioration.
2. Catastrophic Equity Erosion Total equity has been cut nearly in half in two years (€175,962k in FY 2023 → €68,874k in FY 2025). The equity position now barely exceeds the company’s mandatory €40,000 share capital, leaving minimal buffer for losses. At current burn rates, equity could reach critical levels within 12-24 months.
3. Liquidity Crisis Emerging Cash declined 48.7% year-over-year to €90,142k, while receivables increased 30.5% to €103,037k. This combination suggests both significant cash consumption from operations and collection difficulties, with working capital pressure intensifying.
4. Revenue Volatility Indicates Structural Problems The dramatic revenue drop in FY 2023 (-45.5%) followed by recovery suggests the company experienced a major business disruption or strategic restructuring. The recovery to €2,400,000 by FY 2025 has not translated into profit recovery, indicating that revenue gains are being consumed by rising costs.
5. Margin Compression Across the Period Even as estimated revenue recovered in FY 2024-2025, profitability collapsed. This indicates that fixed costs have not been reduced proportionally and pricing power is limited in the competitive regional publishing market.
6. Return on Equity Collapse ROE fell from 65.9% (FY 2024) to just 8.6% (FY 2025)—a 92% decline in a single year. This exceptional deterioration reflects both the profit collapse and the eroding equity base, indicating severely diminished capital efficiency.
7. Workforce Stability Despite Crisis The company has maintained 10 employees (down from 13 in FY 2021-2022) but has held the line in recent years despite financial stress. This suggests either management confidence in recovery or minimum operational requirements to sustain publishing.
Financial Risk Assessment
Obersteirische Rundschau Medien faces critical financial challenges:
- Equity Adequacy: With equity of only €68,874k and declining further each year, the company has limited capacity to absorb additional losses
- Profitability Sustainability: At current profit levels (€26,924k), the company generates insufficient earnings to restore equity or fund growth
- Liquidity Concerns: Cash consumption accelerating while receivables mount suggests working capital stress
- Solvency Trajectory: At the rate of equity decline, the company could face solvency challenges if trends do not reverse
Conclusion
Obersteirische Rundschau Medien entered FY 2025 as an already-stressed publisher and experienced its most severe financial year to date. The combination of profit collapse (-66.8%), equity erosion (-44.0%), asset contraction (-22.9%), and cash depletion (-48.7%) indicates the company is in a critical financial situation. Without significant strategic intervention, including potential restructuring, asset sales, or merger activity, the publisher’s long-term viability is in serious question.
Data Sources: This profile is based on verified data from the official Dossier (North Data) dated February 23, 2026, and the audited annual financial statements (Jahresabschluss) for the year ended June 30, 2025. All balance sheet figures are from official filings. Revenue estimates are marked as such per source documentation.