Österreichische Bundesforste AG has prepared consolidated financial statements since fiscal 2002. The Group’s core business, namely the production of raw timber and the real estate and services segments are administered by ÖBf AG (parent company). As ÖBf AG also plays an important role as a factor in Group earnings, the direct activities of the parent company also form focal points of this report. Activities that are not carried out by ÖBf AG; but by its subsidiaries or holdings, are explicitly designated as such.