ÖBB Annual Report 2025

69 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 26 The economically strained situation of the federal government requires savings and new approaches in resource management, project prioritization and digitalization. The challenge is to bring more traffic onto the railroads without compromising punctuality, safety or customer satisfaction. The focus is therefore on sustainable optimization of the entire value chain from construction planning to operation and maintenance. The corporate group will continue to strengthen its role as the backbone of climate-friendly mobility by rail through innovation and a consistent focus on quality. With the Target Network 2040, the federal government presented its non-current policy for Austrian railroad infrastructure in 2024. The 2040 target network is based on the one hand on key targets for the upgrade of public transport and goods transport in Austria and on the other hand on capacity requirements, environmental impacts and macroeconomic effects. With the help of the framework plans, the targets from the 2040 Target Network are being implemented step by step. B.2. Material risks and uncertainties The opportunity and risk management procedure applies to the relevant business processes and key financial positions in the main Group companies, and is therefore considered to be an important instrument of corporate governance. ESRS 2.GOV-5.36.a The ÖBB Group defines opportunities and risks generally as events or developments that might cause a positive or negative deviation of results from the assumptions made during planning. The revision of the opportunity and risk portfolio conducted in sync with the respective planning. ESRS 2.GOV-5.36.b A Group guideline and a Group-wide binding opportunity and risk management manual define the minimum requirements for all entities involved. The first objective of the risk policy is to safeguard business operations. Risks should only be consciously taken if they are calculable and associated with the anticipated increase in earnings and the company’s value. ESRS 2.GOV-5.36.b At the end of 2025, the main opportunities and risks, none of which pose a threat to the company as a going concern, are distributed across the individual opportunity and risk areas as follows. Strategic management of the risk portfolio The potential consequences of pandemics are taken into account across the Group as risks with regard to a deterioration in income and liquidity. Behavioral and organizational measures and preventive health action plans that have already been developed may have a risk-reducing effect. As part of the risk revisions, attention was also paid to possible impact drivers brought about the Ukraine conflict. Group-wide action plans to avoid breaches of sanctions have been implemented and are monitored. The possible loss of subsidies and changing political conditions in international markets are also reflected in the risk portfolio. Contact with authorities and influential bodies has a risk-reducing effect in this context. Operating business The risk of quality problems with equipment – such as rolling stock and locomotives – are addressed through regular inspections of the equipment. Reporting systems are being optimized, maintenance services are being extended to additional providers, and counteractive emergency systems are being improved. The risk of terrorist attacks and acts of sabotage is reduced through targeted actions and instructions (behavioral recommendations) as well as through close cooperation and coordination with the Federal Ministry of the Interior. Existing emergency and crisis plans are regularly evaluated and reviewed as part of corresponding exercises. These statements also apply to the Group-wide risk of a possible blackout. In order to cope with a general grid failure, appropriate measures have been developed and are also included in the risk management system in an evaluated form. Risks arising from force majeure and natural hazards are countered with established systems and programs. For example, a natural hazard management system has been implemented (including weather information system, flood information system, natural hazard map). The risk of not implementing or partially implementing actions plans to increase productivity is monitored and minimized through continuous monitoring of the action plans. Sales and distribution Risks arise from possible fluctuations in demand and the associated lower passenger numbers or transportation volumes. The portfolio of market companies contains corresponding price, quantity and quality risks. These risks are mitigated by monitoring and analyzing customer behavior as well as by the targeted adjustment of offerings based on these insights. Both the expansion of the corporate group’s portfolio and corresponding new offerings increase the opportunities to acquire new markets and customers and to further exploit the market potential of existing groups. The risks arising from dependence on individual major customers or sectors are countered by increasing customer loyalty and monitoring the market situation. MR26 |