Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 197 16. Investment property Only properties not qualifying as railway assets (Section10a Railways Act [Eisenbahngesetz]) and, therefore, freely leased to third parties or available for sale are assigned to this category. Essentially, properties for lease purposes and building rights are therefore reported under investment property. The useful lives of these properties correspond to the useful lives of those properties reported under property, plant and equipment. 2025 2024 in EUR million in EUR million Acquisition and manufacturing costs As of 01.01. 718.8 474.5 Additions 0.0 0.9 Additions at cost from subsequent acquisitions 50.2 45.2 Additions scope of consolidation 0.0 193.2 Disposals at cost -6.3 -2.1 Transfers from/to intangible assets 2.5 7.0 As of 31.12. 765.2 718.8 Accumulated depreciation As of 01.01. -201.3 -177.0 Depreciation and amortisation -10.9 -8.5 Additions scope of consolidation 0.0 -16.9 Disposals 5.0 1.1 As of 31.12. -207.2 -201.3 Net carrying amounts as of 01.01. 517.6 297.6 Net carrying amounts as of 31.12. 558.1 517.6 The additions to the scope of consolidation in 2024 pertain to a property that was recognised for the first time due to the acquisition of all shares in the two companies ÖBB Am Hauptbahnhof 2 Beteiligungs GmbH (formerly: RINV HÖSBA Beteiligungs GmbH) and Am Hauptbahnhof 2 Projektentwicklung GmbH & Co KG (formerly: HÖSBA Projektentwicklungs- und - verwertungs-gesellschaft m.b.H. & Co KG). If investment property is leased out, this is done by means of operating leases. The resulting rental income, excluding operating costs, amounted to approximately EUR 39.2 million (previous year: approximately EUR 27.2 million), against which directly attributable expenses (including repairs and maintenance, but excluding operating costs) of approximately EUR 7.9 million (previous year: approximately EUR 6.6 million) were incurred. In addition, operating expenses of approximately EUR 0.8 million (previous year: approximately EUR 0.7 million) were incurred for which no rental income was generated. The ÖBB-Infrastruktur Group has not concluded any agreements for the maintenance of its investment property that give rise to an obligation in this respect. The fair value is approximately EUR 1,516.3 million (previous year: approximately EUR 1,400.6 million). For 71% (previous year: 72%) of the properties, the valuation is based on external appraisals that are not derived exclusively from observable market data and are, therefore, classified within Level 3 of the fair value hierarchy. The fair values of the remaining investment properties were determined by internal experts of ÖBB-Immobilienmanagement GmbH using a discounted cash flow calculation based on the actual rents for the respective lease property. The fair values determined in this way were also allocated to hierarchy level 3 in accordance with IFRS13.