Tiwag celebrates record profits and plans billions in investments!

Tiwag celebrates record profits and plans billions in investments!

Innsbruck-Land, Österreich - Tiwag, the state -owned energy supplier of Tyrol, has to report two surprising developments in 2024: an impressive leap in profits and a decline in sales at the same time. The group result before tax (EBIT) rose from 195 million euros in the previous year to an impressive EUR 346.8 million. These additional revenue was mainly achieved from the wholesale business, even if the corporate turnover fell from EUR 2.5 billion to EUR 1.978 billion. A clear contradiction that indicates the current market situation and illustrates the necessities of great investments. The Energy News Magazine describes that the TiWag continues to offer the cheapest electricity price under the state energy supplies Can: At around 9.8 cents per kWh net, the labor price is around 32 percent cheaper than, for example, at Verbund AG.

Thanks to these positive developments, Tiwag can distribute a dividend to the owner, the state of Tyrol, in the amount of 110 million euros - a sudden increase in 50.5 million euros in the previous year.

large investments are on

The additional revenue is an important step to realize the planned large billion dollar investments that the company is striving for in the next few years. 520 million euros have already been planned for 2025, and the total investment is to increase to 2.4 billion euros by 2029. Among other things, numerous expansion measures are planned in the area of ​​the power plant projects, network and district heating infrastructure as well as in e-mobility and photovoltaics. This information has also Top Tirol emphasized and emphasizes the need for this investments regardless of further state support.

Another essential point is that Tiwag is not only known for its electricity prices, but also actively supports the Tyrolean communities as well as the local economy and industry. This is also visible to households in Bavaria due to the favorable tariff offers, which on average pay up to 124 euros a year more for their electricity, while in South Tyrol the electricity invoices are up to a third more expensive.

Change of personnel and supervisory board

With all the changes within the company, there was also a change of board: Erich Demander retired at the end of March. His successor, Michael Kraxner, will lead Tiwag together with Thomas Gasser, who runs the sales, and Alexander Speckle, who is responsible for the building. The mandates of the supervisory boards, including Eduard Wallnöfer, Hannelore Weck-Hannemann, Manfred Pletzer and Michaela Hysek-Unterweger, were extended to keep the company on course.
according to ORF TIROL So do exciting times in which it adapts to the change in the energy industry and at the same time wants to meet the needs of the Tyrolean population.