ÖBB Annual Report 2025

263 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 71 With respect to the maturities of receivables, see Note 20. The collateral for trade receivables in the 2025 financial year consists of a letter of comfort and in the 2024 financial year of fiduciary funds for real estate recovery projects. 29.2.d. Liquidity risk The primary goal of the ÖBB Group in financial terms is to secure the necessary liquidity flexibility for all ÖBB Group business operations. For the ÖBB Group, liquidity risk also means any restrictions in terms of volume or conditions on the ability to borrow or raise capital (for example, if downgraded by a ratings agency or in-house by a bank) that might hinder the implementation of the Group strategy or limit financial flexibility. The task thus consists of analyzing the liquidity risk and consistently securing liquidity (mainly by liquidity planning, agree- ment of sufficient credit lines, and sufficient diversification of creditors). The following tables show the contractually agreed (undiscounted) interest and redemption payments on original and derivative financial liabilities. Actually expected maturities do not deviate from the contractually agreed maturities. Non-cash Carrying amounts of cash flows in 2026 Carrying amounts of cash flows in 2027–2030 Carrying amounts of cash flows as of 2031 and onwards Carrying amount Carrying amounts Interest*) Redem- ption*) Interest Redemp- tion Interest Redemp- tion in EUR million Dec 31, 2025 Dec 31, 2025 2026 2026 2027–2030 2027–2030 2031ff 2031ff Original financial liabilities Bonds 5,360.5 0.0 175.8 1,034.0 552.2 721.7 424.9 3,604.8 Liabilities to banks 6,655.2 0.0 183.9 429.0 531.5 2,866.4 417.7 3,359.8 Financial liabilities leasing, subleasing and CBL 842.5 0.0 20.8 173.0 38.1 449.5 20.6 220.0 Other financial liabilities 26,327.1 14.0 449.3 1,122.8 1,697.3 4,988.5 7,313.9 20,201.8 Trade payables 1,641.2 0.0 0.0 1,641.2 0.0 0.0 0.0 0.0 Other liabilities 233.5 0.0 0.0 231.5 0.0 1.0 0.0 1.0 *) Other financial liabilities primarily include liabilities from accrued interest payments on bonds, other financial liabilities to the federal government (OeBFA) and liabilities to banks. The actual interest payments in 2026 from these accrued liabilities are reported under “Bonds and liabilities to banks” and not under “Other financial liabilities.” Non-cash Carrying amounts of cash flows in 2025 Carrying amounts of cash flows in 2026–2029 Carrying amounts of cash flows in 2030 and beyond Carrying amount Carrying amounts Interest*) Redemp- tion*) Interest Redemp- tion Interest Redemp- tion in EUR million Dec 31, 2024 Dec 31, 2024 2025 2025 2026–2029 2026–2029 2030ff 2030ff Original financial liabilities Bonds 6,891.5 0.0 234.0 1,527.7 598.4 1,538.5 554.6 3,825.3 Liabilities to banks 5,832.6 0.0 149.6 227.0 484.5 2,054.0 392.2 3,551.6 Financial liabilities leasing, subleasing and CBL 876.3 0.0 22.2 169.4 45.6 444.9 24.8 262.0 Other financial liabilities 22,484.7 21.6 346.3 409.2 1,325.6 4,582.0 6,408.7 17,471.9 Trade payables 1,667.4 0.0 0.0 1,667.4 0.0 0.0 0.0 0.0 Other liabilities 498.3 0.0 0.0 497.7 0.0 0.6 0.0 0.0 *) Other financial liabilities primarily include liabilities from accrued interest payments on bonds, other financial liabilities to the federal government (OeBFA) and liabilities to banks. The actual interest payments in 2025 from these accrued liabilities are reported under “Bonds and liabilities to banks” and not under “Other financial liabilities.” The interest and redemptions of financial liabilities shown above do not include those from residual positions from already terminated cross-border leasing transactions in the amount of EUR 14.0 million (py: EUR 21.6 million). Those redemptions and interest are offset by identical income amounts, which are netted in the cash flow with interest and redemption of the financial liabilities. In this case, the proceeds from the assets are transferred directly from the debtor to the creditor.