Austrian Federal Railways (ÖBB) reported earnings before taxes (EBT) of EUR 68.1m for 2025, down 40% year on year, as losses in freight transport weighed on group performance. Total revenues increased 8% to EUR 9,676.1m, while EBIT rose 4% to EUR 732.7m.
2025 results of Rail Cargo Group
Rail Cargo Group (RCG) recorded an EBT loss of EUR 135.5m, compared with a loss of EUR 24.5m in 2024. Freight volumes declined by 4% to 26.2 billion net tonne-kilometres amid the industrial recession and continued price pressure from road competition. Although freight revenues rose 6% to EUR 2,090m, the result was impacted by an EUR 81.1m goodwill write-down in Hungarian holdings and the agricultural transport business, as well as around EUR 36m in losses linked to developments in the agricultural sector. Excluding these effects, RCG’s EBT remained negative at EUR 54m.
Longer transport routes due to infrastructure works, particularly in Germany, and high energy costs also affected freight operations. ÖBB has initiated a group-wide competitiveness programme targeting a 10% reduction in controllable planned costs, equivalent to around EUR 300m annually, with measures including product portfolio adjustments and organisational streamlining in freight.
2025 results of ÖBB passenger transport
Passenger transport provided the main earnings contribution. The division increased revenues by 8% to EUR 4,093.5m and generated EBT of EUR 227.7m, compared with EUR 70.0m a year earlier, supported by a one-off credit for infrastructure usage fees. Passenger numbers reached 559 million across rail and bus services, up 1.4%.
2025 results of ÖBB infrastructure
ÖBB-Infrastruktur increased operating performance by 3% to 177 million train-km and reported EBT of EUR 15.1m, up 20% year on year. Group investments exceeded EUR 5bn in 2025, including major projects such as the Koralm Railway, the Brenner Base Tunnel and the Semmering Base Tunnel.