Result before taxes (EBT) at EUR 49.5 million – core business forest/wood characterized by high damaged wood content – real estate and renewable energy further on the growth course – Investment program continues
- Operating performance rose to EUR 372.1 million (+8 %)
- Forest damage record at EUR 49.2 million
- Operating performance forest/wood with EUR 233.1 million (+0.8 %) slightly above the previous year’s level
- The strongest increase in operating performance Renewable energy at EUR 34.0 million (+51.8 %)
- Operating performance Real estate further increased to EUR 68.0 million (+6.1 %)
- Century project “Forest of the Future” continues
In 2024, the hottest year was in Austria’s 257-year-old measurement history. It brought record temperatures, drought and at the same time enormous amounts of rain with devastating floods. The federal forest has given the greatest storm damage in more than 15 years. “Although the year was very challenging due to the consequences of climate change, above-average amounts of damages, increased costs and the overall economic situation, we were able to achieve our third best result overall and thus continue our success course,” explains Georg Schöppl, ÖBF board spokesman and board for finance and real estate on the occasion of the balance sheet presentation. “This was made possible by the unbroken demand for the raw material wood in all segments, a good wood price and the positive development in the areas of renewable energy and real estate.” The strategy of diversification has proven itself once again. Almost 30 % of the EBT are due to the investments in recent years in the areas of renewable energies and real estate. “Our four stand legs give us stability in a very volatile wood market. We can invest in the necessary conversion of our forests to climate-like mixed forests, in the further development of wind and hydropower plants as our contribution to the energy transition as well as in sustainable real estate projects,” says Schöppl.
In 2024, the operating performance of the ÖBF group was EUR 372.1 million and thus by another 8 % above the already very good value of 2023 (EUR 344.7 million). The result before taxes (EBT) is 49.5 million euros due to the cost factors- especially storm and infrastructure damage, personnel and wooden harvest costs- below the previous year’s value (56.0 million euros), but is one of the three highest in the company’s history. The same applies to EBIT at EUR 49.3 million (2023: 56.4 million euros) and the EBITDA with EUR 65.4 million (2023: 70.2 million euros).
“The Alpine region suffers particularly strongly from the climate crisis, we are confronted with it every day-the effects are also reflected in the books. In 2024, 75 percent of the total wooden harvest or around 1.5 million solid meters were unplanned as damaged wood, almost 500,000 festivals more than in the previous year,” reports Andreas Gruber, ÖBF board for forestry and nature protection. In 2024, the forest damage balance reached the record amount of EUR 49.2 million (2023: 32 million euros). This includes around 30 million euros in reduction in revenue for damaged wood as well as costs for storage, beetle control and damage to the infrastructure. “The economic success in all business areas makes it possible to adapt our forests to climate change. We get habitats, take care of protective forests and ensure wood supply,” says Gruber. The ÖBF expenses for forest care were more than ever (2023: 15.2 million euros) in 2024, of which EUR 9.7 million was on the bark beetle fighting. In the past three years alone, forest care costs have increased by 50 %, although expenses for bark beetle prevention have more than doubled. “But our efforts pay off. The bark beetle wood was significantly declining in 2024 compared to the previous year,” says Gruber.
Core area forst/wood due to high damaged wood content under pressure
In the core business forst/wood, in 2024 the high damaged wood content, the associated higher costs for forest protection and the wood harvest as well as the significantly increased personnel costs. The damage to the forest infrastructure, which was more than twice as high as in the previous year due to floods and heavy rain, also led to higher expenses. Fortunately, the operating performance was increased by 0.8 % to EUR 233.1 million (2023: 231.2 million euros) – the highest value in the company’s history. However, the result contribution (EBIT) is significantly below the previous year’s value (2023: 16.1 million euros) at EUR 1.3 million. A good wood price is all the more important.
In 2024, the amount of wooden harvest was around 2 million meters and thus a little above the original wooden harvest destination. “The main reason for the larger harvest is the high damaged wood content, caused by wind throw. In addition, we also have to carry out the stabilization of the forest. So we deliberately accept a higher amount of wooden harvesting, because a forest that is not maintained today is the damaged wood of tomorrow. Nevertheless, we cultivate our forests sustainably and do not use more than growing up,” emphasizes Gruber. For all 120 ÖBF forestry areas, there are not only forest management plans, but also your own nature conservation plans. These include measures to promote biodiversity and are integrated into the overall planning.
Renewable energy: continued growth course
For the second time in a row, the Renewable Energy division recorded the largest plus in operating performance in 2024 with an increase of 51.8 %. It rose to EUR 34.0 million (2023: 22.4 million euros). In 2024, the result contribution was also increased to EUR 12.4 million in 2024 (2023: 12.0 million euros). “Last year we expanded the Pretul wind farm in Styria by four plants and the next stage of expansion is already being planned,” reports Schöppl. In addition to the largest alpine wind farm in the Alpine region, the Federal Forests are currently operating nine hydropower plants and are involved in the wooden biomass power plant Wien Simmering (ÖBF 33.3 %, Vienna Energy 66.6 %).
In 2024, a total of 331.0 GWh electricity from wind, water and biomass were generated – by 8.6 % more than in the previous year (2023: 304.8 GWh). This corresponds to the average annual consumption of around 94,500 households*. The construction for the latest project took place in April in the Tyrolean Brixental, where the Federal Forest, together with the market town of Hopfgarten, built the Elsbethen hydropower plant by 2027. The joint investment volume is around 35 million euros. Another project is the Kobernaußerwald wind farm (Upper Austria), which is planned together with Energie AG and EWS Consulting GmbH and is the largest energy project in Upper Austria with up to 19 wind turbines. “We contribute step by step to the energy transition in Austria, which our country makes independent of fossil fuels and expensive electricity imports,” said Schöppl.
Success factor real estate: renewed results record
The Real Estate/Tourism division again completed 2024 with the best values: With an increase of 6.1 %, operating performance continued to increase to EUR 68.0 million (2023: 64.1 million euros). “The success of the diversification strategy is particularly evident in the real estate sector, which has been making the largest contribution to the operating result (EBIT) for many years and has been securing the company’s profitability. These results of the results come primarily from ongoing income.
“In the past 10 years we have developed 39 sustainable real estate projects on our space and invested 55 million euros in this sector. In 2025, another five projects can be completed with an investment volume of around 25 million euros. Wherever possible, we develop and manage our real estate ourselves, so we get the substance and increase added value in the region,” explains SchöPPP. One focus is on creating energy -efficient living space. The latest examples of real estate development with high ecological standards are the Miramonte project in Tenneck at Werfen (s) with five modern double houses in timber construction or the largest project in Gablitz in the Wienerwald (Lower Austria) with 52 rental apartments in solid wood construction.
Services expanded
In the Services division, operating performance in 2024 was also increased by 10.4 % to EUR 17.0 million (2023: 15.4 million euros). The tasks of the business area include technical and ecological planning, investigation, management for third parties and forest technology. With a total of over 120,000 examined individual trees and almost 3,000 hectares of controlled area, the Federal Forest are a reliable partner for more than 120 cities and municipalities as well as numerous companies and private customers. In addition, the Federal Forest has been managing around 17,500 hectares for municipal and private forest owners for many years. Further investments are also planned in the fourth business area, including building your own wooden harvest capacities both for forest staff and the machines. Overall, it is about a volume of more than 6 million euros in the next three to five years.
Outlook 2025
“We understand 100 years of the Federal Forest 2025 as a special order: We not only look back on many years of experience, but also continue to focus our focus on the future: We will put our whole strength in our project ‘forest of the future’. This clearly applies to coping with the climate crisis, which is present every day. Continuous economic success is therefore an important basis for this. As a contribution to the energy transition.
About the Austrian Federal Forest AG
The Austrian Federal Forest (ÖBF AG) are the nature of Austria. For 100 years now, they have been maintaining, protecting and managing the natural resources of the country – forests, lakes and mountains – in the sense of sustainability and with a view of future generations. With 850,000 hectares, the federal forest is the largest natural area economist in the country. 10 % of the state area, including 74 of the larger lakes, and 15 % of the forest area are entrusted to them. The company operates economically in the business areas of forestry and wood, hunting and fishing, real estate, services and renewable energies. The central guiding principle is sustainability: nature is no more taken than it grows again. Ecological, economic and social interests are constantly evaluated and balanced as possible. The Federal Forest encounters the challenges of the climate crisis with active forest management under the motto “Forest of the Future”. Because a sustainably managed forest has grown best to future ecological and social requirements. ÖBF AG is in the solo ownership of the Republic and employs 1,032 (as of 31, 12.21024) employees in 14 forest and national park companies as well as in the company management based in Purkersdorf in the Wienerwald (Lower Austria).
* based on 3,500 kWh per average budget per year
The Sustainability magazine For the 2024 financial year, it is now online at www.bundesforste.at/nhm2024.
Press photos under www.bundesforste.at. More pictures in the APICALOCALERIE.