Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 233 The entire grants issued in accordance with Section42 Federal Railways Act (Bundesbahngesetz) in 2025 are approximately EUR 2,653.0 million (previous year: approximately EUR 2,530.0 million). The grant for expansion and reinvestment expenditure amounting to approximately EUR 1,464.3 million (previous year: approximately EUR 1,408.4 million) was increased by approximately EUR 157.6 million (previous year: approximately EUR 159.3 million) to approximately EUR 1,621.9 million (previous year: approximately EUR 1,567.7 million) in the statement of profit or loss as a result of the investment measures implemented and in line with interest rate developments. The grant for operational management, as well as inspection, maintenance, fault clearance and repair in the amount of approximately EUR 1,188.7 million (previous year: approximately EUR 1,121.6 million) was reduced as a result of an improvement in the operating business and the more favourable interest rate trend in the consolidated statement of profit or loss by approximately EUR 205.7 million (previous year: approximately EUR 217.5 million). The grant attributable to capitalised interest in accordance with IAS 23 in the amount of approximately EUR 156.2 million (previous year: approximately EUR 136.0 million) is to be seen as an investment grant and serves to cover future expenses incurred in the form of depreciation and amortisation. It is recognised in the annual financial statements as a reduction in the grant in accordance with Section42 (1) Federal Railways Act (Bundesbahngesetz) and is presented as an investment grant. Therefore, an amount in the sum of approximately EUR 983.0 million (previous year: approximately EUR 904.1 million was recognised in profit or loss for operational management, inspection, maintenance, fault clearance and repair. The portion of the annuity payments exceeding depreciation and amortisation, amounting to approximately EUR 138.0 million (previous year: approximately EUR 27.9 million), is recognised in the statement of financial position as deferred income in accordance with the accrual principle and is used to offset depreciation and amortisation charges in future periods. In principle, the balances relating to grants for expansion and reinvestment, maintenance and operational management are offset against liabilities, resulting in a liability to the Federal Government of approximately EUR 141.2 million as of 31 December 2025 (previous year: approximately EUR 244.4 million). Certain adjustments that were not included in the current grant agreement for 2022 to 2027 are recognised as receivables in accordance with the agreement with the federal government and are not offset against liabilities. Receivables amount to approximately EUR 182.6 million (previous year: approximately EUR 69.3 million). In response to the damage caused by the floods in 2024, the Federal Government has amended the grant agreement and reimbursed revenue shortfalls and costs amounting to approximately EUR 20.1 million for 2024. No additional grants relating to the 2024 floods will be awarded for the current and following financial year. The costs were covered by the Federal Government within the existing budgetary framework. Development of the grants in 2025 is, therefore, as follows: in EUR million Total grant Deferrals Profit or loss in 2025 Section 42 (1) Operational management 724.8 -240.5 484.3 Section 42 (2) Inspection, maintenance, fault clearance and repair 463.9 34.8 498.7 Total federal grant in accordance with Section 42 (1) and Section 42 (2) Federal Railways Act (BBG) 1,188.7 -205.7 983.0 Section 42 (2) Expansion and reinvestment, usage fee 1,464.3 157.6 1,621.9 Total federal grant for rail infrastructure in accordance with Section 42 (2) Federal Railways Act (BBG) 1,464.3 157.6 1,621.9 Total other operating income 2,653.0 -48.1 2,604.9 In the reporting year, an amount of EUR 0 (previous year: approximately EUR 93.0 million) was repaid to the Federal Government. The repayment relates both to liabilities already recognised as of 31.12.2023 and to federal grants received in 2024. In 2024, the subsidy development was as follows: in EUR million Total grant Deferrals and repayments Profit or loss in 2024 Section 42 (1) Operational management 657.3 -265.2 392.1 Section 42 (2) Inspection, maintenance, fault clearance and repair 464.3 47.7 512.0 Total federal grant in accordance with Section 42 (1) and Section 42 (2) Federal Railways Act (BBG) 1,121.6 -217.5 904.1 Section 42 (2) Expansion and reinvestment, usage fee 1,408.4 159.3 1,567.7 Total federal grant for rail infrastructure in accordance with Section 42 (2) Federal Railways Act (BBG) 1,408.4 159.3 1,567.7 Total other operating income 2,530.0 -58.2 2,471.8