The Vienna Stock Exchange (Wiener Börse AG) has announced a robust performance for the first quarter of 2025, characterized by a significant increase in equity trading volume, a record number of new bond listings, and the Austrian Traded Index (ATX) Total Return reaching an unprecedented all-time high. The quarter also saw Steyr Motors AG, an Upper Austrian engine manufacturer, become the first listing on the direct market plus segment for SMEs in February. Further underscoring positive market sentiment, the latest share barometer survey indicates a continued rise in securities ownership among the Austrian population.
Christoph Boschan, CEO of Wiener Börse AG, commented on the strong start: “The German fiscal stimulus package and hopes for an end to the war gave the regional stock markets a boost in the first quarter. The Austrian leading index, including dividends, reached a new milestone by surpassing the 10,000 point mark for the first time. In view of the still very moderate valuation by international standards, the Austrian stock market has further upside potential,” says Christoph Boschan, CEO of Wiener Börse AG.
Significant Increase in Trading Volume
Equity turnover on the Vienna Stock Exchange reached EUR 18.5 billion in Q1 2025, a substantial 30% increase compared to the EUR 14.3 billion recorded in the same period last year. The most active trading days were March 21st (EUR 1.08 billion), February 28th (EUR 897.0 million), and March 5th (EUR 510.3 million). The most heavily traded Austrian stocks at the end of March were Erste Group Bank AG (EUR 4.4 billion), OMV AG (EUR 3.0 billion), and BAWAG Group AG (EUR 1.7 billion). The exchange also expanded its international global market segment, adding 38 shares from four countries, now available for trading with domestic fees, in euros, and during Vienna Stock Exchange hours.
Austrian Investor Base Expands Significantly
The 2025 Austrian “Aktienbarometer,” a study by the Federation of Austrian Industries, Aktienforum, and the Vienna Stock Exchange, reveals a significant surge in investment activity among Austrians. Nearly a third of the population (30%, representing 2.3 million people) now hold securities, a notable increase from 25% in 2022. Furthermore, 18% of non-investors (1.4 million people) expressed interest in entering the market. A key driver for investment is retirement planning, with 57% of respondents citing it as a motive in 2025, up from 49% in 2023.
ATX Total Return Achieves Historic Milestone
The ATX Total Return, which accounts for dividend payouts, surpassed the 10,000-point mark for the first time on March 6, 2025. With a year-to-date performance of 12.05% (9,565.62 points as of March 31, 2025), Austria’s leading index including dividends demonstrates strong international performance compared to the ATX excluding dividends (11.28%; 4,076.36), the DAX (11.32%), the Euro Stoxx (7.79%), and the MSCI World (-2.43%). The top-performing stocks in the ATX Prime at the end of March were STRABAG SE (67.34%), PORR AG (47.97%), and Palfinger AG (42.53%). The total market capitalization of domestic companies listed in Vienna reached approximately EUR 141 billion.
Record-Breaking Bond Listing Activity Continues
Following a record year for new bond listings in 2024 (13,443), the Vienna Stock Exchange has maintained strong momentum in 2025. The first quarter saw an unprecedented 6,094 new listings, the highest number ever recorded in the first quarter of a year. Notable listings included a convertible bond from Asian sportswear manufacturer Xtep International (HKD 500 million), fleet financing for leading car rental companies Hertz and Europcar, and Tier 2 sustainability bonds from VIENNA INSURANCE GROUP AG (EUR 300 million nominal amount). With over 1,100 bond issuers from 42 countries, the Vienna Stock Exchange remains a leading European venue for debt listings.
As a central infrastructure provider in the region, Wiener Börse AG connects Vienna and Prague stock exchanges, offering listed companies optimal liquidity and investors cost-effective trading. It compiles and disseminates price data and calculates key indices for numerous regional markets. Leveraging its expertise, the national exchanges in Budapest, Ljubljana, and Zagreb rely on the Vienna Stock Exchange’s IT services. Additionally, the company is involved in regional energy exchanges and clearing houses.
