Federal Council approves 2024-2027 strategic objectives for RUAG International
Bern, 29.11.2023 - During its meeting on 29 November 2023, the Federal Council approved the strategic objectives for RUAG International Holding AG for 2024 to 2027. Whereas the previous strategy period centred on the split of the RUAG group, the next few years will focus on the completion of the privatisation and, in particular, the sale of Beyond Gravity (space division) by the end of 2025.
The Confederation is the sole shareholder of RUAG International Holding AG. The Federal Council manages the company according to strategic four-year objectives, in particular. The Board is responsible for achieving these objectives, and the Federal Council audits this every year. In 2019, the Federal Council decided to privatise RUAG International completely, as there was neither a legal basis for, nor a public interest in, having a financial holding in such a technology company. Accordingly, the expiring strategic period centred on the split of the RUAG group completed in 2022, and the start of the privatisation process. This process is now well advanced and numerous business areas have already been divested.
By the end of 2025, RUAG International's last remaining large business area – the space division Beyond Gravity – should also have been sold. Thereafter, the company is to be wound up. This is the focus of the new strategic objectives for 2024 to 2027. Therefore, the goals set by the Federal Council are that the sale of Beyond Gravity should be completed by the end of 2025, that RUAG International should make no further acquisitions until then, that the purchaser should be from the Western world and that the sale should take account of Switzerland's locational, security and space policy interests.
In addition, RUAG International should continue to report profits that are in line with those of comparable companies. The proceeds from the divestment process are to be gradually paid to the Confederation in the form of dividends.
As RUAG International will constitute only a financial holding for the Confederation following the split, from 2024 onwards the Federal Department of Finance will act as the sole owner, with the Federal Department of Defence, Civil Protection and Sport (DDPS) no longer involved.
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The Federal Council
Federal Department of Finance
Federal Department of Defence, Civil Protection and Sports DDPS