The German Economic Stabilization Fund (WSF) to cope with the Corona crisis made a loss of 25.9 million euros in the first year of its existence.
As of the reporting date at the turn of the year, the balance sheet total was 40.7 billion euros, as the Federal Finance Agency reported on Monday in Frankfurt.
The fund, with a total of up to 600 billion euros, has supported several companies in distress with various instruments since the outbreak of the pandemic.
The best-known cases are Deutsche Lufthansa AG and the travel company Tui.
In addition to direct and indirect investments, the refinancing of loans through the KfW state bank is one of the fund's instruments.
The various financings were valued as of December 31, 2020 and also contain hidden reserves that can lead to extraordinary income at later points in time.
If, according to the WSF, the current stock exchange prices were used as a basis for the share in Lufthansa, there would be a hidden reserve in the three-digit million range. The recent sales of Lufthansa shares by the WSF showed the possibilities of realizing such theoretical hidden reserves in whole or in part, it said.