ÖBB Annual Report 2023

Group Management Report 60 Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 15 Development of freight transport volumes on the road and railways in Austria Rail freight (change from previous year in %) Road freight (change from previous year in %) * preliminary estimates. Source: Statistik Austria, ASFINAG, own calculations. Road transport prices in Europe fell again in 2023 following the sharp rise in the previous year. The Transporeon freight rate index fell by more than 3.0% compared to the summer 2022 peak, despite continued high inflation. In 2023 as a whole, however, freight rates were still well above the pre-crisis level. The main reason for the significant decline in freight rates is the weak general economy in Europe and the resulting mismatch between available transport capacity and transport demand. 28 Even though capacities and freight rates eased, this was unable to halt the downturn in road transport performance. Rail freight transport also had a tough time in 2023. The slump was particularly severe in the second quarter, at 10.0 % compared to the same period of the previous year. The trend in the other quarters was, however, not much better. 29 On the one hand, the weak economy dampened overall demand for transport. The cost pressure however became even greater in comparison to road transport, with traction current prices continuing to rise, while the price of diesel recovered in the meantime. The drastic increase in cancellation fees for train paths in Germany planned for 2024 is also not a beneficial measure for rail freight transport. 30 The situation is precarious particularly in combined transport. Double-digit transport performance losses in 2022 were followed by further year-on-year declines of approx. EUR 15.0% in each of the first three quarters of 2023. 31 This was mainly due to a slowdown in the global sea container trade and thus in port hinterland traffic, an important service of combined transport. The shipping market also suffered from large free capacities and insufficient demand, particularly at the European North Sea ports. 32 The so-called “New Silk Road” also experienced a drastic slump after years of ramp-up between Europe and Asia. The war in Ukraine has recently caused traffic flows to slowly shift from the northern route via Russia to the so-called “middle corridor“ via Turkey and Azerbaijan. This route through the Caucasus has seen a clear increase in freight volumes, but it is set to remain a niche market for the foreseeable future. 33 Capacity shortages and other operational reasons result in long transit times on the central corridor compared to the route via Russia. 28 Transporeon Insights, Verkehrsrundschau. 29 Statistik Austria, ASFINAG. 30 Rail Business. 31 UIRR. 32 DVZ. 33 DVZ. | MR15 ing/Strategie und Unterne m nsentwicklung (inte n) nzern intern) 5,0% 4,6% 2018 2019 -3,7% 2020 2021 2022* -1,2% 2019 -5,7% 2020 6,3% 2021 3,8% 2022* 2020 2021 2022 2023* since 2019 -5.7% 6.3% 1.6%% -8.7% -6.9% 2019 2020 2021 2022 2023* since 2019 4.6% -3.7% 8.3% -1.2% -3.1% -0.2% Nicht verwendet ÖBB-Holding/Strategie und Untern hmensentwicklung (inte n) TLP grün (ÖBB-Konzern intern) 5,0% 4,6% 2018 19 -3,7% 2020 2021 2 -1,2% -1,2% 2018 019 -5,7% 2020 6,3% 2021 3,8% 2022* 2019 2020 2021 2022 2023* since 2019 -1.2% -5.7% 6.3% 1.6%% -8.7% -6.9% 019 2020 21 2022 2 4.6% -3.7% 8.3% -1.2% - Nich verwendet Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 15 Development of freight transport volumes on the road and railways in Austria Rail freight (change from previous year in %) Road freight (change from previous year in %) * prelimin ry estimates. Source: Statistik Austria, ASFINAG, own calculations. Road transport prices in Europe fell again in 2023 following the sharp rise in the pr vious year. The Transporeon freight rate index fell by more than 3.0% compared to the summer 2022 peak, despite continued high i flatio . In 2023 as a whole, how ver, freight rates were still well above the pre-crisis level. The main reason for the significant decline in freight rates is the weak general economy in Europe and the resulting mismatch between available transport capacity and tr nsport demand. 28 Even though capacities a d freight rates eased, this was unabl to halt t dow turn in road transport performance. Rail freight transport also h a tough time in 2023. The slump was partic larly sev re in the second quarter, at 10.0 % compared to th sam period of the previous y ar. The tr nd in the other quarters was, however, not much better. 29 On the one hand, th weak economy dampened overall demand for transport. The cost pressure however became even greater in comparison to road transport, with traction current prices continuing to rise, while the price of diesel recovered in the meantime. The drastic increase i cancellation fees for train paths in Germany planned for 2024 is also not a beneficial measur for rail freight transport. 30 The situation i precarious particularly in combined transport. Doubl -digit transport per ormance losses in 2022 were followed by further y r-on-year declines of approx. EUR 15.0% in each of the first three quarters of 2023. 31 This was mainly due to a slowdown in the global sea container trade and thus in port hinterland traffic, an important service of combined transport. The shipping market also suffered from large fre capacities and insufficient demand, particularly t the European North Sea ports. 32 The so-called “New Silk Road” also xperi nced a drastic slump after years of ramp-up between Europe and Asia. The war in Ukraine has rec ntly c used traffic flows to slowly shift from the northern route via Russia to the so-called “middle corridor“ via Turkey and Azerbaijan. This route through the Caucasus has seen a clear increase in freight volumes, but it is set to remain a niche market for the foreseeable future. 33 Capacity shortages and other operational reasons result in long transit times on the central corridor compared to the route via Russia. 28 Transporeon Insights, Verkehrsrundschau. 29 Statistik Austria, ASFINAG. 30 Rail Business. 31 UIRR. 32 DVZ. 33 DVZ. ailwa r 2 n e 31 U 32 33