ÖBB Annual Report 2025

59 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 16 In addition, the federal government is providing a subsidy of EUR 484.3 million (py: EUR 392.1 million) for the operation of the infrastructure. This contribution is granted to the extent and for as long as the revenues to be generated under the respective market conditions (from users of the rail infrastructure) do not cover the expenses incurred (assuming economical and efficient management). The increase is due to factors such as the compensation for the reduction in the shunting fee and the increased costs for training apprentices as a result of the higher number of apprentices. Net assets and financial position Net assets and financial position of the ÖBB Group Overview Dec 31, 2025 Dec 31, 2024 Change Change in % Total assets in EUR million 46,875.8 44,168.2 2,707.6 6% PP&E-to-total-assets ratio 35 in % 90% 90% 0% 0% PP&E-to-net-worth ratio 36 in % 8% 9% -1% -11% PP&E-to-net-worth ratio II 37 in % 97% 96% 1% 1% Working capital 38 in EUR million -586.8 -713.6 126.8 -18% Equity ratio 39 in % 7.1% 7.7% -0.6% -8% Cash-effective change of funds in EUR million -116.5 -302.2 185.7 61% Structure of the Consolidated Statement of Financial Position in EUR million Dec 31, 2023 Dec 31, 2024 Structure 2024 Dec 31, 2025 Structure 2025 Change from 2024 to 2025 Property, plant and equipment 36,443.7 39,642.2 90% 42,087.4 90% 2,445.2 Other non-current assets 2,071.0 2,465.6 6% 2,616.5 6% 150.9 Current assets 2,350.1 2,060.4 4% 2,171.9 4% 111.5 Total assets 40,864.8 44,168.2 100% 46,875.8 100% 2,707.6 Shareholders’ equity 3,212.6 3,387.4 8% 3,338.6 7% -48.8 Financial liabilities 33,534.2 36,129.7 82% 39,203.2 84% 3,073.5 Other liabilities 4,118.0 4,651.1 10% 4,334.0 9% -317.1 Assets The ÖBB Group’s total assets increased by 6% to EUR 46,875.8 million (py: EUR44,168.2 million) in the reporting year, primarily due to investment in property, plant and equipment. As of the reporting date, the ratio of property, plant and equipment to total assets (PP&E ratio) was 90%, as in the prior year. These assets were primarily financed with borrowings through loans and bond issues. As of December 31, 2025, the PP&E-to-net-worth ratio was 8% (prior year: 9%). Taking non-current liabilities into account, the PP&E-to-net-worth ratio II is 97% (py: 96%). Working capital amounted to EUR -586.8million (py: EUR -713.6million). 35 PP&E ratio: property, plant and equipment/total assets. 36 PP&E-to-net-worth ratio: equity / property, plant and equipment 37 PP&E-to-net-worth ratio II: (equity + non-current borrowings) / PP&E 38 Working capital: inventories (excl. recovery objects and prepayments on orders) + trade receivables – trade payables. 39 Equity ratio: equity / total capital MR16 |