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Total investment of EUR 5.5 billion planned to 2035
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New geothermal project for Graz
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Surgical result (EBIT) EUR 113.6 million
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Dividend for Land Styria from EUR 60 million to EUR 70 million increased
In 2024, Energie Styria made the largest investments in the company’s history in terms of sustainability: around EUR 300 million were spent on generation projects in the area of renewable energy and the expansion of the networks. “A clear signal that our company is one of the largest impulse providers for the economy and the labor market in the south of Austria,” said that Board duo Martin Graf and Werner Ressi At today’s balance sheet presentation.
With a turnover of EUR 2,191.9 million (2023: EUR 2,786.9 million) and an operational result (EBIT) of EUR 113.6 million (EUR 2023: 150.4 million), the company is solidly set up, “this despite heavy faults and upheavals of the overall economic conditions”.
The total assets of Energie Styria rose to EUR 4,461.6 million in 2024 (2023: 4,435.5 million), with a significantly grown equity of EUR 1,901.2 million (EUR 2023: 1,628.1 million) and an equity rate of EUR 42.6 % (2023: 36.7 %) was able to take its outstanding credit position Clearly consolidate and expand.
In 2024, the cash flow from operational activity was EUR 310.9 million (EUR 2023: -154.1 million) and thus underlines the extremely positive financial development, which was also attested again by the top rating “A” by Standard & Poor’s.
A dividend of EUR 70 million (2023: 60 million EUR) will be distributed to the state of Styria as the owner for 2024. This corresponds to an increase of 16.7 % or EUR 10 million compared to the previous year. The number of employees was increased to 2,198 (2023: 2,074).
“However, our strategic offensive in terms of sustainability will continue in the coming years,” said the board members, “by 2035 we are planning investments of around 5.5 billion EUR with Energie Styria, which will not only stabilize the location of Styria in a phase of great international uncertainties, but will be decisively shaped”. Above all, the upgrading and modernization of the over 30,000 kilometer power grid has a top priority, “only in this way can we actually use the rapidly growing parts of renewable energy to be used for all customers”.
Since the majority of the group’s orders – both in the area of generation and in the network – goes to domestic companies after tenders, “Energie Styria is one of the most important job engines in Austria,” state and Ressi. “At the same time, our projects massively reduce the independence of the country of energy imports and significantly strengthen regional competitiveness.”
At the moment, the expansion of wind energy is particularly promoted: The FreiländerAi II project: 105 megawatts (MW) and the Soboth-Beibiswald wind farm (performance: 93 MW) Two large systems are implemented: The construction work is in full swing here, and the first of the 30 wind turbines are still in operation this year.
For a few days now there has also been the green light for the wind power project on the Stubalm (performance: 60 MW) – after a procedure of 7 (!) Years, the implementation work can begin immediately.
The investment volume for these three wind farms alone amounts to almost EUR 500 million. After commissioning the Gratkorn hydropower plant (together with Verbund) in October 2024, further locations are currently being examined for their potential. The procedures for the Leoben-Ost project (planned commissioning 2028) and Stübing are currently underway.
In the area of large area photovoltaics, in addition to numerous other projects, the 20 hectare PV park in Dobl also goes into operation in 2025. “One of the country’s largest solar power plants with an investment volume of EUR 13 million and an output of 22 MWP”. In addition, its own “hydrogen society” will be founded in the 2025 group in order to bundle the activities in this area sustainably and in close cooperation with industry. The corresponding perspectives and strategies for this were developed last year in close coordination with the Industry Association (IV) and the most energy -intensive companies in Styria.
“We focus on the topic of heat transition,” said Graf and Ressi. “We start one of the largest geothermal projects in Austria and, together with OMV and Energie Graz, want to decarbonize the district heating supply of the Styrian state capital massively and sustainably”.
With a total investment volume of over EUR 400 million, around half of the total heat requirement from Graz will be covered with hot water from 2030. The project is currently in the competition by the competition authority. The ecologization of the heat is also one of the central themes of Energie Styria subsidiary Stefe SK, which was able to expand its position as the second largest district heating supplier of Slovakia in 2024.
There is a clear commitment to Energie Styria in the area of electric mobility: “Here we will double the number of public charging points (currently around 1,000) in the next two years,” said Graf and Ressi. The broadband expansion in almost all regions of the country with over EUR 20 million – 2025 alone is also massively upgraded.
“In view of increasing geopolitical tensions, we need a socio-political shoulder closure in terms of energy, because this is the only way we can make a significant contribution to the revitalization of the economy. However, clear regulatory framework conditions are the main basis for corresponding financing security,” says Martin Graf and Werner Ressi. “In any case, the current law initiatives at the state and federal level are generally to be evaluated positively in this context.”
“With Energie Steiermark, the country has an important asset to make us more independent of energy imports and strengthen the business location Styria. Investing in the modernization of the networks and renewable energy guarantee the Styrian economy to also have a reliable energy supplier as a partner in the future. For the employees of Energie Styria for their committed and professional work, ”says Governor Mario Kunasek.
“Energy Styria is not only important for the energy supply of the Styrians and due to its annual contribution to the state budget. Energy Styria is an important partner. Economic and Financial Council Willibald Ehrenhöfer.
Photo (Alex Krischner/Honorar-Free): Energy Styria board team Martin Graf and Werner Ressi