RAG-Stiftung fulfils its mission reliably despite a persistently challenging environment
The RAG-Stiftung, Essen/Germany, has continued to work on the robustness and resilience of its portfolio under challenging conditions. The foundation was able to reliably fulfil its mission in 2024 and further strengthen its resilience. This was reported by the foundation’s board of directors on 2nd July 2025 during the annual press conference at the UNESCO World Heritage Site Zollverein in Essen
The figures for the past financial year were just as much a focus as developments in the current financial year.
“In difficult economic times, we cannot change the conditions, but we can do everything we can to adapt to them and deal with them. We did not start doing this in 2024. We plan with a long-term perspective, and that pays off,” emphasised Bernd Tönjes, Chairman of the Board of the RAG-Stiftung, during the annual press conference. Despite ongoing turbulence on the global markets, the foundation achieved an annual profit of 965 M € (previous year: 394 M €). Adjusted for the special effect of the sale of a block of Evonik shares in May 2024 worth 513 M €, the annual profit for 2024 still exceeded the target of 376 M € by 76 M €. This meant that around 1 bn € could be allocated to the provision for perpetual liabilities, which, after deducting expenses in 2024, now amounts to around 9.8 bn €.
The foundation’s assets decreased by 0.5 bn € compared to the previous year and amounted to 17 bn € at the end of 2024 (previous year: 17.5 bn €). However, given the severity of the turmoil in the world and on the markets, this decline was moderate and has already been partially offset. “We expect markets to remain highly volatile in the future,” emphasised Tönjes. “We are therefore focusing on three maxims: firstly, the ongoing diversification of our capital investments; secondly, reducing complexity in our strategic investments; and thirdly, further sharpening our return targets at acceptable risk levels. In short, our strategic triad is: diversification – focus – performance.”
The foundation spent 288 M € on perpetual obligations in 2024 (previous year: 266 M €). As in the previous year, the increase of around 20 M € was mainly due to a further rise in energy costs. Since the end of coal mining in Germany, the foundation’s expenditure on perpetual obligations as of 31st December 2024 now totals around 1.7 bn €. “The funds to fulfil our tasks have to be earned anew every year. We have been doing this with absolute reliability since 2019. Our total income consistently exceeds our expenditure – and the crises of recent years have not changed that,” said Jürgen Rupp, Chief Financial Officer of the RAG-Stiftung.
In total, the foundation invested over 700 M € in its capital investments last year. “The diversification of our investment portfolio is and remains a strategic goal in order to make the foundation model sustainable and weatherproof. We continue to prepare ourselves for challenging times, which we will counter with our increased strength,” said Rupp.
In the area of promoting education, science and culture, the RAG-Stiftung was again able to invest 32 M € in 2024. With its funding activities, it is tackling the pressing challenges of our time in its proven manner, including promoting democracy, combating socially-induced inequality in the education sector and loneliness among young people, and alleviating the shortage of skilled workers with a focus on STEM skills. “Our funding recipients know us as a reliable partner. Our board of trustees also appreciates this. Its members therefore agreed last year to increase our funding budget: 35 M €/a will be allocated to the promotion of education, science and culture from 2025 until initially 2027,” reported Bärbel Bergerhoff-Wodopia, member of the RAG-Stiftung’s Executive Board and responsible for human resources and the foundation’s funding activities. “This is a significant step and an expression of our Board of Trustees’ confidence in the Foundation’s funding work. In turbulent times, this means above all a measure of necessary stability for our funding recipients,” emphasised Bergerhoff-Wodopia.
“Diamonds are formed under pressure,” Tönjes summed up. “The pressure exerted on us and our investment portfolio as a result of the turbulence on the global markets is and remains high. But it drives us to continuously improve.” He emphasised that the new government must now quickly create the necessary conditions for the economy, Germany and Europe as a whole to regain strength. (RAG-Stiftung/Si.)
