Energie Steiermark made less revenue in 2024

The Styrian state energy utility Energie Steiermark, wholly owned by the state of Styria, presented its 2024 financial statements on Friday: While revenue declined from almost €2.8 billion to just under €2.2 billion compared to 2023, total assets increased slightly from €4.4 billion to €4.5 billion "despite significant disruptions." Operating profit (EBIT) declined from €150.4 million to €113.6 million.

Equity increased from €1.6 billion to €1.9 billion. The equity ratio is now at 42.6 percent (2023: 36.7 percent). Cash flow from operating activities was €310.9 million in 2024 (2023: €-154.1 million). A total dividend of €70 million (2023: €60 million) will be paid to the State of Styria, as the owner, for 2024. This represents an increase of approximately 16.7 percent compared to the previous year. The number of employees increased from 2,074 to 2,198.

In addition to the key figures, board members Martin Graf and Werner Ressi announced further investments in sustainable energy generation: "By 2035, we are planning investments totaling around 5.5 billion euros with Energie Steiermark, which will not only stabilize Styria as a location in a phase of great international uncertainty, but will also have a decisively positive impact." The modernization of the more than 30,000-kilometer-long electricity grid is a priority, "only in this way can we actually make the rapidly growing share of renewable energy available to everyone," the press release said on Friday.

Expansion of wind power and photovoltaic systems

Work continues on the expansion of wind energy: Construction is currently underway on the Freiländeralm II project, with a capacity of 105 megawatts (MW), and the Soboth-Eibiswald wind farm, with a capacity of 93 MW. The first of a total of 30 wind turbines are scheduled to go into operation in 2025. A few days ago, after seven years of planning, the green light was also given for the Stubalm wind power project (capacity: 60 MW). The investment volume for these three wind farms amounts to almost 500 million euros. Following the commissioning of the Gratkorn hydroelectric power plant, jointly with Verbund, in October 2024, further locations are now being examined for their potential. Processes are also underway for the Leoben-Ost project (planned commissioning in 2028) and Stübing.

Large-scale photovoltaic projects are also planned: The 20-hectare PV park in Dobl will go into operation in 2025. "We are placing a particular focus on the heat transition," says Graf. "We are launching one of Austria's largest geothermal projects and, together with OMV and Energie Graz, aim to massively and sustainably decarbonize the district heating supply of the Styrian capital." With a total investment volume of over €400 million, around half of Graz's total heat demand is to be met with hot water from underground sources starting in 2030. The project is currently being reviewed by the competition authority.

APA