ÖBB Annual Report 2025

203 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 11 2. Consolidation principles and basis of consolidation Consolidation principles Reporting date The reporting date for all fully consolidated companies included in the Consolidated Financial Statements is December 31. Foreign currency translation Foreign currencies are translated in accordance with the functional currency concept. The functional currency of all sub- sidiaries included in the Consolidated Financial Statements is the respective national currency. The Consolidated Financial Statements are presented in euros, the functional currency of the parent company. Foreign currency transactions are first translated into the functional currency by the Group companies at the spot rate applicable on the date of the transaction. Monetary assets and liabilities denominated in a foreign currency are translated into the functional currency at each reporting date at the respective spot rate. Translation differences from financial assets and financial liabilities are recognized in the financial expenses or financial income as relevant. Non-monetary items meas- ured at cost denominated in a foreign currency are translated at the rate applicable on the date of the transaction. Non- monetary items measured at fair value denominated in a foreign currency are translated at the rate applicable at the time the fair value is determined. The annual financial statements of the foreign subsidiaries included in the Consolidated Financial Statements are translated as follows: the assets and liabilities are measured at the foreign exchange reference rates of the European Central Bank [ECB] applicable as of the reporting date. The items of the Income Statement are translated at the annual average rates. Differences resulting from foreign currency translation are recognized in other comprehensive income. As long as the subsidiary is included in the basis of consolidation, the translation differences are continued in other comprehensive income and thus in consolidated shareholders’ equity. If subsidiaries leave the basis of consolidation, the corresponding translation differences are recognized in the consolidated net income. As the principal market of the ÖBB Group is in Austria, sales in foreign currencies account only for a small portion. The exchange rates of important currencies developed as follows (Source: reference rates of the European Central Bank (ECB) according to www.oenb.at) : Reporting date rate Annual average rate rounded in EUR Dec 31, 2025 Dec 31, 2024 2025 2024 Bosnia and Herzegovina Convertible Mark (BAM) 1.956 1.956 1.956 1.956 Bulgarian Lev (BGN) 1.956 1.956 1.956 1.956 New Turkish Lira (TRY) 50.484 36.737 44.816 35.573 Polish Zloty (PLN) 4.221 4.275 4.240 4.306 Renminbi Yuan (CNY) 8.226 7.583 8.119 7.787 Romanian Leu (RON) 5.097 4.974 5.042 4.975 Russian Ruble (RUB) 93.608 117.518 94.629 99.618 Swiss Franc (CHF) 0.931 0.941 0.937 0.953 Czech Koruna (CZK) 24.237 25.185 24.688 25.120 Hungarian Forint (HUF) 385.150 411.350 397.770 395.300 US Dollar (USD) 1.175 1.039 1.130 1.082 Consolidation Subsidiaries (capital consolidation) Subsidiaries are entities controlled by the Group. The Group controls an entity if it is exposed or has rights to variable returns from its involvement with the entity and has the ability to exercise control over the entity to affect the amount of these returns. The financial statements of subsidiaries are included in the Consolidated Financial Statements from the date the Group obtains control until the expiration of control. Accordingly, the results of operations of the businesses acquired or sold during the reporting year are included in the Consolidated Statement of Comprehensive Income from the date of acquisition or until the date of disposal respectively.