ÖBB Annual Report 2025

261 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 69 Fluctuations in the market interest rates levied on original fixed interest financial instruments only affect profit or loss if measured at fair value. Accordingly, fixed interest financial instruments measured at amortized cost are not exposed to any interest rate risks. Market interest rate fluctuations of financial instruments designated as cash flow hedges against interest-related cash flow fluctuations affect the cash flow hedge reserve in equity and are therefore considered in equity-related sensitivity calcula- tions. Market interest rate fluctuations of original variable interest financial instruments for which interest payments are not hedged against interest rate risks with cash flow hedges are included in the calculation of profit-related sensitivities. Market interest rate fluctuations of derivative financial instruments not designated as hedging instruments in accordance with IFRS9 affect the other financial expenses and income (changes of the fair value of the financial assets) and are there- fore included in profit-related sensitivity calculations. Effect in income statement Effect in shareholders’ equity Sensitivity analysis for interest rate risk Dec 31, 2025 in EUR million +100 Base points -100 Base points +100 Base points -100 Base points Assets Financial assets 0.0 0.0 -4.8 5.0 Cash and cash equivalents 1.2 -1.2 0.0 0.0 Liabilities Financial liabilities -8.5 8.5 0.0 0.0 Other liabilities 0.0 0.0 0.0 0.0 Consolidated effect 2025 -7.3 7.3 -4.8 5.0 Effect in income statement Effect in shareholders’ equity Sensitivity analysis for interest rate risk Dec 31, 2024 in EUR million +100 Base points -100 Base points +100 Base points -100 Base points Assets Financial assets 0.0 0.0 -6.6 6.9 Cash and cash equivalents 0,0*) 0,0*) 0.0 0.0 Liabilities Financial liabilities -2.3 2.3 1.6 -1.6 Other liabilities -0.7 0.7 0.0 0.0 Consolidated effect 2024 -3.0 3.0 -5.0 5.3 *) Small amount. 29.2.b. Currency risk The ÖBB Group is exposed to exchange rate risks resulting primarily from original financial liabilities denominated in foreign currencies. As of the reporting date, ÖBB Group was not exposed to any material risks relating to foreign currency liabilities. Accordingly, changes in exchange rates do not materially impact the result. Residual currency risks mainly relate to financial liabilities in euros of the Hungarian companies, which prepare their financial statements in Hungarian forints. In the case of remaining items from terminated CBL transactions (including US dollar bonds), almost all cash flows are settled in US dollars at matching maturities. Notwithstanding default on the investments, therefore, the Group is not exposed to any currency risk in connection with these transactions.