ÖBB Annual Report 2025

207 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 15 The previously immaterial subsidiary Rail Cargo Carrier – Poland Sp.z.o.o., Poland, which was acquired in May 2019, was included in the basis of consolidation for the first time as of January 1, 2024. The initial consolidation resulted in an expense of EUR 0.2 million, which has been reported in other expenses. In June 2024, all shares in the two companies ÖBB Am Hauptbahnhof 2 Beteiligungs GmbH (formerly: RINV HÖSBA Be- teiligungs GmbH) and Am Hauptbahnhof 2 Projektentwicklung GmbH & Co KG (formerly: HÖSBA Projektentwicklungs- und -verwertungsgesellschaft m.b.H. & Co KG), whose joint business activities were limited to holding the property “Am Hauptbahnhof 2, 1100 Vienna,” were acquired. As the assets of the two companies only represent a single identifiable asset, this is the acquisition of a single asset in a corporate shell without corporate quality, meaning that IFRS 3 was not applied and only the acquisition cost had to be allocated to the acquired assets. The entire property was rented before the purchase and reported under property, plant and equipment in accordance with IFRS 16, meaning that there were no significant changes in assets. The resolution passed by the National Council on July 5, 2023, regarding the Federal Act on the Transfer of the Infrastruc- ture Sub-operation of Graz-Köflacher Bahn und Busbetrieb GmbH to ÖBB-Infrastruktur AG (GKB Infrastructure Transfer Act) created the legal basis for merging the entire rail infrastructure into ÖBB-Infrastruktur AG. Graz-Köflacher Bahn und Bus- betrieb GmbH is wholly owned by the federal government. A transition agreement was signed in mid-December 2023 which, in addition to various mutual rights and obligations (essentially information obligations), includes the financing of the infrastructure division of GKB from January 1, 2024 until the demerger is entered in the commercial register. The agreement takes effect for economic purposes as of January 1, 2024, and the date of initial consolidation has been set for that date. Shares in the acquiring company were not granted in accordance with Section 1 (2) of the GKB Infrastructure Transfer Act and Section 17 (5) of the Demerger Act in conjunction with Section 224 (2) (2) of the Stock Corporation Act ( Aktiengesetz – AktG). The transaction is a combination of entities or businesses under common control, for which IFRS 3 does not apply. ÖBB Infrastruktur Group has decided to continue with the carrying amounts and will apply this accounting principle consistently to comparable transitions. The continuation of the carrying amounts of the acquired infrastructure assets provides the best insight into the net assets, financial position and results of operations as it was the aim of the federal government to merge the two business operations and not to uncover hidden reserves. At the end of October 2024, all shares in Rail Cargo Terminal – Sindos Societe S.A., Greece, were sold. The deconsolidation took place as of January 1, 2024. The net assets at the time of disposal, the consideration and the income from the disposal are as follows: in EUR m Property, plant and equipment 5.3 Trade receivables 0.2 Cash and cash equivalents 0.2 Current liabilities 0.5 Net assets sold 5.3 Consideration provided in cash 5.2 Loss on disposal -0.1 Goodwill is indicated in the statement of intangible assets provided in Note 15. The effects of the deconsolidation of subsidiaries or interests in subsidiaries are recognized in other operating income, other operating expenses, or in earnings of investments accounted for using the equity method in the Income Statement. A complete overview of all Group companies is provided in Note34. 3. Summary of significant accounting policies Basis of preparation of financial statements The Consolidated Financial Statements are prepared on the basis of the principle of amortized cost. This excludes derivative financial instruments and equity instruments measured at fair value and personnel provisions accounted for using the projected unit credit (PUC) method. Property, plant and equipment and investment property Property, plant and equipment and investment property are recognized in accordance with IAS 40 at purchase price or production cost less depreciation and possible impairments. Cost includes certain expenses incurred in the course of the construction or development of the