ÖBB Annual Report 2025

71 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 28 Subsidiaries and investments Subsidiaries and investments interests are considered in this risk area. Possible risks in this area consist of the possibility that planned values may not be achieved. Consequently, fixed assets must be written down during impairment tests or allowances on investments will become necessary. To mitigate risk, developments are continuously monitored and analyzed as part of the controlling process so that countermeasures can be taken in good time. RCG has a company in Russia (ooo Rail Cargo Logistics – RUS). The continuation of business operations is restricted in accordance with the procedure defined by the RCG with respect to the sanctions regime. The Russian business of ooo Rail Cargo Logistics – RUS is of only minor significance to the Group’s performance. Sustainability reporting Tools for risk assessment The centralized recording, assessment and management of relevant risks, along with specially developed risk management software supports process monitoring and the consolidation of the identified risks. Reports are derived for corporate management. Together with the results of the double materiality analysis, the risks identified form the basis of the sustainability topics to be reported. Further information on the link between the double materiality analysis and the Group’s risk management can be found in chapter E.1 “General information” under “Management of impacts, risks and opportunities.” ESRS 2.GOV-5.36.a Integration of the risk assessment The opportunity and risk portfolio is revised in close coordination with the planning and reporting processes. The relevant specialist departments are involved in the risk assessment process. Individual risks and opportunities are assessed by experts and verified in the risk platform. The consolidated results of the risk analyses are then summarized in a report for the Board of Management of ÖBB-Holding AG. The report shows the most important risks and the corresponding countermeasures or opportunities. On this basis, the Supervisory Boards and the appointed audit committees of ÖBB- Holding AG and the Group companies are provided with comprehensive information on the current opportunity and risk situation. This ensures that the corporate management is informed about the current risk situation and control measures at all times. ESRS 2.GOV-2.26.b; ESRS 2.GOV-5.36.d, e B.3. Financial instruments Original financial instruments The ÖBB Group’s portfolio of original financial instruments is reported in the Statement of Financial Position. These are finance-related receivables and liabilities, trade receivables and trade payables, financial assets, and securities. Detailed information is provided in the Notes to the Consolidated Financial Statements. Derivative financial instruments The ÖBB Group employs derivative financial instruments to hedge against risk associated with currencies, interest rate changes, and raw material prices. There is also a derivative to offset mismatches from cash flows arising from former cross-border leasing (CBL) transactions. Derivative financial instruments are concluded only with reference to a hedged item. Derivative financial instruments are measured in accordance with the applicable accounting standards. The derivatives used in the ÖBB Group are non-structured standard hedging transactions (plain vanilla interest rate swaps, forward exchange transactions, and raw material swaps) with a fair value of EUR 429.2 million (py: EUR464.0 million). In 2025, commodity swaps for the delivery years 2026 and 2027 were concluded with a fair value of EUR 16.6million (py: EUR25.6 million), and a plain vanilla interest rate swap with a nominal value of EUR 25.3 million has expired. MR28 |