ÖBB Annual Report 2025

199 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 7 Consolidated Statement of Cash Flows 2025 2025 2024 Note in EUR thousand in EUR thousand Net income 3,088 141,068 Non-cash expenses and income + Depreciation and amortization on property, plant and equipment, intangible assets and investment property 9 1,867,997 1,675,252 + Depreciation / – appreciation on non-current financial assets 774 587 - Amortization of investment grants 9 -163,257 -153,850 + Losses / – gains on disposal of property, plant and equipment, intangible assets and investment property 20,759 7,735 + Losses / – gains on disposal of asset groups held for sale 874 -13,568 - Gains on exchange rates / + losses on exchange rates -5,617 4,600 - Other non-cash income / + other non-cash expenses -7,294 3,607 + Interest expenses 11 718,013 664,204 - Interest income 11 -43,551 -53,934 + Tax income 65,023 -27,444 Changes in assets and liabilities - Increase / + decrease in inventories 21 -64,824 -62,928 - Increase / + decrease in trade receivables and other assets -66,287 -116,902 + Increase / – decrease in trade payables and other liabilities and deferrals 25,199 191,835 + Increase / – decrease in provisions 26 10,900 102,204 - Interest paid -809,643 -698,113 + Interest received 11 74,426 92,356 - Income tax paid -15,791 -7,869 Cash flow from operating activities a) 1,610,788 1,748,839 + Proceeds from disposal of property, plant and equipment and intangible assets 30,315 34,738 - Expenditures for property, plant and equipment, intangible assets and the acquisition of consolidated companies *) 14, 15 -4,914,564 -4,741,585 - Expenditures for investments in financial assets -258 -42 + Proceeds / -repayments of investment grants from third parties 14, 15 369,899 395,918 + Proceeds from the sale of consolidated subsidiaries 0 4,970 - Expenditures for the acquisition of other business units 2 -561 -1,506 + Dividends received 3,675 2,360 + Cash received from the redemption of loans granted / – grant of loans (from investing activities) -9,503 0 Cash flow from investing activities b) -4,520,997 -4,305,147 + Payments from / – Payments to noncontrolling interests -79,194 -2,499 + Proceeds from issue of bonds and loans 25, 33 1,344,939 373,094 - Redemption of bonds and loans 33 -1,803,811 -1,566,244 - Cash paid for lease liabilities 33 -174,823 -188,057 + Proceeds from the assumption of other loans (from financing activities) 33 3,519,498 3,946,384 + Cash paid for the repayment of other loans 33 -13,138 -304,156 + Cash received from the redemption / – cash paid for the granting of other loans 216 -4,356 Cash flow from financing activities c) 2,793,687 2,254,166 Funds at the beginning of the period 279,911 583,683 Change resulting from the basis of consolidation 2,561 28 Foreign currency translation 1,521 -1,658 Change in the funds resulting from cash flows (a+b+c) -116,522 -302,142 Funds at the end of the period 167,470 279,911 1 ) For 2024, see Note 33 Infrastructure sub-operation of Graz-Köflacher Bahn und Busbetrieb GmbH. *) Prior-year figures have been adjusted to improve comparability. Information on the composition of cash and cash equivalents is provided in Notes 22 and 33. Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 7 Consolidated Statement of Cash Flows 2025 2025 2024 o e in EUR thousand in EUR thousand Net income 3,088 141,068 Non-cash expenses and income + Depreciation and amortization on property, plant and equipment, intangible assets and investment property 9 1,867,997 1,675,252 + Dep eci i / – appreciation o non-current financial assets 774 587 - Amortization of investment grants 9 -163,257 -153,850 + Losses / – gains on disposal of property, plant and equipment, intangible assets and inve tment property 20,759 7 735 + Losses / – gains on disposal f as et groups held for sale 874 -13 568 Gains on exchange rat s / + losses exc ang rates 5,617 4, 0 - Other non-cash income / + other non-cash expenses -7 294 3 6 7 + I terest expenses 718 013 664 20 - Interest income 11 -43,551 53,93 + Tax income 65,023 -27,444 Changes in assets nd liabilities I i inventori s 21 4 824 -62 28 - I crease / + r s i tr receivables and other assets -66 287 - 16 902 I i trade payables and other liabilities and deferrals 25 199 91 835 + Increase / – decrease in provisions 26 10,900 102,204 - I terest paid -809 643 -6 8 113 + Interest received 11 74,426 92,356 - Income tax paid - 5 91 -7 6 Cash flow from operating activities a) 1,610,788 1,748,839 + Proceeds from disposal of roperty, plant and equipment and intangible assets 30,315 34,738 - Expenditures for property, plant and equipment, intangible assets and the acquisition of consoli ated companies *) 14, 15 -4,914,564 -4,741,585 - Expenditures for inv s ments in fina cial ssets -258 -42 / -repayments of investment grants from third parties 14, 15 369,899 395 18 + Proceeds from the sale of consolidated sub idiaries 0 4 970 - Expenditures for the acquisition of other business units 2 -561 -1,506 Dividends r ceived 3,675 2,360 + Cash received from the redemption of loans granted / – grant of loans (from investing activities) -9 503 0 Cash flow from investing activities b) -4,520,997 -4,305,147 aym nts fro / – Payments to noncontrolling interests -79,194 -2,4 9 + Proceeds from issue of bonds and loans 25, 344 939 373 09 Redemption of bonds and loans -1,803 11 -1,566 244 - Cash paid f r leas liabilities -174,823 -188,057 Proceeds fr m the assu ption of other loans (from financing activities) 3,5 9 49 3,946 384 paid for the repayment of other lo ns 33 -13,138 -30 1 + Cash received from the redemption / – cash paid for the granting of other loans 216 - 35 Cash flow from financing activities c) 2,793,687 2,254,166 Funds at the be inning of the period 279 91 583,683 Chan e resulting from the basis of consolidation 2 6 2 Forei n currency translatio 1, 1 -1,658 Change in the funds resulting from cash flows (a+b+c) - 16 522 -302 142 Funds at th end of the period 167,470 279,911 1 ) For 2024, see Note 33 Infrastructure sub-operation of Graz-Köflacher Bahn und Busbetrieb GmbH. *) Prior-year figures have been adjusted to improve comparability. Information on the composition of cash and cash equivalents is provided in Notes 22 and 33.