Balance sheet: Holding Graz Group improves result
The Supervisory Board of Holding Graz has taken note of the economic results for 2024 presented by the Management Board and unanimously approved the successful 2024 balance sheet of the Holding Graz Group. In 2024, as it has done for over 60 years, Holding Graz once again initiated numerous measures and projects that an urban city like Graz simply needs to function.
In 2024, the Group generated around EUR 690 million with municipal tasks and many market-based services. EBITDA in 2024, including municipal subsidies, increased by around EUR 26 million compared to the business plan, from EUR 5 million to EUR 32 million. Earnings before taxes improved by EUR 24 million in 2024 compared to 2023, from EUR -63 million to EUR -39 million.
The City of Graz with Manfred Eber, City Councillor for Participations, underlines the performance of the city’s largest company in economic terms and is very proud of the employees with their tireless commitment to the city of Graz and its citizens. “The employees of Holding Graz ensure that the city keeps running every day and that security of supply is guaranteed. I would like to take this opportunity to expressly thank all employees for their dedication and commitment to serving the public,” emphasizes Eber.
CEO Wolfgang Malik: “Our 3,200 employees in the Group deliver exceptional performance: for the first time, almost 150 million euros were invested in Graz and the central region in one year – a record not only as an investment sum, but also as a precision landing in terms of preparation and management. The focal points were: the Neutor Line project (city center relief) with 13 million euros, the continuous expansion of district heating with 10.5 million euros, the double-track expansion of Line 5 with 7.5 million euros, the partial amounts for the purchase of articulated buses with 7 million euros and streetcars with 10 million euros, the permanently necessary investments in the water supply and transport lines with 7.5 million euros and, of course, the further expansion of the broadband network with 2.5 million euros.
I am particularly pleased with the double-digit improvement in earnings compared to the previous year and the business plan. The record results of the Ankünder, which delivered earnings of over EUR 10 million for the first time in 2024 on its 100th anniversary, or Servus with around EUR 4.4 million, but also the approach to pre-corona results at Graz Airport with EUR 4.5 million should also be emphasized in addition to the increase in Holding’s earnings – all supporting factors for the budget consolidation in Graz,” emphasizes Malik and thanks the entire Holding team for their tireless commitment.
Holding Graz Managing Director Gert Heigl: “Geopolitical upheavals, climate crises with volatile and high energy prices and the resulting inflation are having a global impact on economic development. As a municipal service provider with direct contact to its citizens, Holding Graz must of course also adapt its proven structures and business models in line with the motto: only permanent further development keeps us competitive and distinguishes us as an adaptable, modern service company. The focus of Holding Graz continues to be on improving the quality of products and services in the interests of citizens while implementing the necessary consolidation measures.”
Holding Graz Managing Director Mark Perz: “Consolidation measures have also made it possible to achieve savings of over 10 million euros compared to the budget in public transport. With Graz Linien, which is one of the centerpieces of Holding, we are doing a great deal to make it easier to combine living, work and leisure. For example, we are implementing our public transport construction program and thus supporting the residents and visitors of Graz. With around 450,000 passenger journeys beyond the city limits, this is also necessary. Infrastructure projects such as the procurement of the first 15 long Flexity streetcars, the double-track extension to Puntigam, which has already been successfully completed, and the extension to Mariatrost, but in particular the inner city relief and the Neutor line and many other rail extensions and new bus lines ultimately also make the large-scale infrastructure project “Maintenance Graz Linien” in Steyrergasse necessary.”
