BIG Group Reports Over EUR1 Billion Investment in 2024

On April 2, 2025, the Bundesimmobiliengesellschaft (BIG) announced its consolidated financial results for 2024, highlighting a significant milestone by surpassing the EUR1 billion mark in investments. In total, the company invested EUR1.079 billion in new construction, renovations, and maintenance, thereby securing approximately 11,500 jobs across Austria.

The focus of these investments was primarily on the refurbishment and upkeep of existing buildings. The group's revenue increased to EUR1.533 billion, while the total value of its property portfolio rose to over EUR18 billion. The dividend payout to the Republic of Austria amounted to EUR206 million, reflecting a robust operational performance with an EBITDA of EUR880.5 million.

Christine Dornaus, the CEO of BIG, stated that the company has successfully continued its upward trajectory, serving as a vital economic driver for the local market. The year 2024 marked a historic achievement with investments exceeding EUR1 billion, entailing contracts with over 2,000 domestic construction firms, many of which are regional trades.

Investment levels rose dramatically compared to EUR865.4 million in 2023. Gerald Beck, another key executive at BIG, noted that more than 45% of the total investment was allocated to the renovation and maintenance of existing properties. The fair value of the portfolio increased from EUR17.2 billion in 2023 to EUR18.2 billion in 2024, with a consistent occupancy rate of 99% as of December 31, 2024.

BIG's overall revenues surged from EUR1.422 billion in 2023 to EUR1.533 billion in 2024, while the EBITDA rose from EUR834.5 million to EUR880.5 million. The equity ratio remained strong at 56.4%. For the fiscal year 2024, the company announced a dividend of EUR206 million to its owner, the Austrian Federal Holding Company (ÖBAG), compared to EUR200 million in 2023, which included a special dividend of EUR50 million.

Dornaus emphasized that despite economic challenges, including a recession and ongoing pressures in the construction and real estate sectors, BIG achieved record results. Rental income grew to EUR1.169 billion, up from EUR1.068 billion in 2023, attributed to project completions, new rentals, and rent adjustments, all of which contribute to maintenance and decarbonization efforts.

Although the profit for the year was recorded at EUR884.5 million, a decrease from EUR1.074 billion in 2023, this decline was mainly due to increased investments in decarbonizing existing buildings. While the portfolio value did increase, it did so at a slower pace than in previous years.

BIG's commitment to sustainability was further underscored with its first sustainability declaration published in accordance with the EU's Corporate Sustainability Reporting Directive (CSRD). Beck explained that the company plans to set greenhouse gas reduction targets following the European Sustainability Reporting Standards starting in 2025.

The focus on existing building investments is evident, with ongoing renovations at significant sites such as the Josefstadt Correctional Facility and the Vienna Regional Court. BIG aims to invest an additional EUR2 billion by 2040 for targeted decarbonization initiatives, with the first major investments already underway and expected to exceed EUR100 million annually starting next year. The goal is to supply as many properties as possible with locally sourced renewable energy.

In the education sector, BIG invested over EUR350 million in school and university construction projects, including major developments such as the Medical University Campus in Vienna and the Graz Center of Physics. These projects are designed to ensure that Austrian universities remain competitive internationally.

Additionally, BIG's subsidiary, ARE Austrian Real Estate, continued to contribute significantly to housing development in Austria. Despite a nationwide decline in completed housing units amid a growing population, ARE managed to maintain its output, with over 2,200 housing units under construction in 2024, of which more than 600 were completed on schedule. Their largest urban development project, the Village in the Third District of Vienna, is set to provide around 2,000 residential units along with commercial spaces, kindergartens, schools, and a large park.

The Village project will also feature Austria's largest geothermal heating network, utilizing 500 deep boreholes to create a unique energy system primarily powered by local renewable resources.

For further details, the full annual financial report for 2024 is available on BIG's official investor relations website.