Decrease in Asfinag profits observed during the year 2024.
Rebuilding Asfinag: Sinking Profits and a Boost in Employment
State-owned motorway holding company Asfinag faced a whopping 110 million euro drop in profits this year, leaving them with a surplus of only 734 million euros in 2024. Despite the anticipated decline, the drop was greater than Asfinag had anticipated, prompting some concerns about the company's financial stability. Regardless, Asfinag will be bolstering their workforce by adding 235 new employees to their ranks this year, as announced at a press conference held by the company's finance director, Herbert Kasser, on Tuesday.
Embracing the Storm
Having weathered a decreasing trend in heavy traffic, or vehicles over 3.5 tonnes, toll revenues tumbled by 1.4 percent to approximately 1.66 billion euros. However, Asfinag managed a slight overall increase of 0.4 percent in revenues to around 2.5 billion euros. The alarming decline in heavy traffic remains a concern, but Kasser was quick to highlight the 4 percent surge in car toll revenues and a 6.1 percent climb in vignette revenues (609 million euros) as positive developments.
A Forward-Thinking Agenda
By 2030, Asfinag has planned a series of strategic investments aimed at improving the environment and infrastructure. The company will put 656 million euros toward noise protection and an additional 233 million euros into water protection facilities. The goal is to reduce noise pollution from major roadways and improve the sustainability of water systems. Moreover, Asfinag plans to expand electric vehicle charging infrastructure considerably. By 2030, they intend to have installed 1,500 charging stations every 25 kilometers, catering to both cars and trucks on motorways and expressways.
Looking Beyond
- Strache on a New Path: HC Wild Constituency VictoryHC Strache fought tooth and nail for a seat on the district council. His team won a single seat each in Floridsdorf and Donaustadt, creating a potential position for Strache, but this political move will come at the cost of his income.
- Vienna's Continued Boulevard of Success: Premium Volume Up, Profit Down, and Life Insurance on a RollVienna municipal has maintained its growth trajectory with premium volume increasing 6 percent to approximately 3.6 billion euros. Profit notably decreased slightly, but life insurance bucked industry trends and soared.
The extensive Asfinag network stretches across Austria, encompassing 5,874 bridges, 414 tunnels, and 2,275 kilometers of roadway.
[1] Asfinag Investments: https://www.asfinag.at/asfinag-investments-656-mill-eur-noise-protection-233-mill-eur-water-protection-facilities/[2] Asfinag Electrification: https://www.asfinag.at/elektrifizierung-1500-ladestationen-bis-2030/
- The announced addition of 235 new employees to Asfinag's workforce in 2021 suggests a commitment to employment in the finance and industry sectors despite the company's sinking profits.
- In a bid to improve the environment and infrastructure, Asfinag has allocated 656 million euros for noise protection and 233 million euros for water protection facilities, showing a forward-thinking approach.
- By 2030, Asfinag plans to install 1,500 electric vehicle charging stations every 25 kilometers across their network, demonstrating a concerted effort to adapt to the changing landscape of the business and finance world.
- Asfinag's extensive network spans Austria, consisting of 5,874 bridges, 414 tunnels, and 2,275 kilometers of roadways, indicating a significant presence in the expressway industry.
