ÖBB Annual Report 2023

67 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 22 C.2. Results of operations Results of operations of the ÖBB Group The growth of the ÖBB-Personenverkehr subgroup continued in 2023. In 2023, mobility in Austria was not affected by any measures to combat the pandemic, with the exception of a temporary mask requirement on public transport in Vienna in the winter of 2022 / 2023. Pandemic-related restrictions on cross-border transport have also been lifted. Transport performance has grown accordingly on all modes of transport. Growth in rail passenger transport in the ÖBB- Personenverkehr subgroup was approx. 10%, exceeding the pre-coronavirus level by approx. 10% and carrying over 493 million passengers for the first time in 2023. The ramp-up in long-distance rail transport continued. The record figure for passenger transport performance in 2022 in the ÖBB-Personenverkehr subgroup is likely to be significantly exceeded with a further increase of approx. 11% in 2023. Local transport in the ÖBB-Personenverkehr subgroup also recorded growth of approx. 10%, but is still just below the level of the pre-COVID-19 years. In the 2023 financial year, the Rail Cargo Austria subgroup suffered from persistently high electricity prices and a significant slowdown in economic growth. In addition, the problems in global container transport had a negative impact on the subgroup’s intermodal business segment. A positive pre-tax result was achieved despite falling short of the operating target due to resolute cost and price management, the successful performance of the rail forwarding companies and the revaluation of a subsidiary. The earnings situation in the ÖBB-Infrastruktur subgroup is significantly better due to the discontinuation of track access charges, higher traction power prices due to the situation on the energy market and the increase in rents due to index adjustments. In contrast, the weakening property market in Austria resulted in lower sales revenue in the subgroup. Overview 2023 2022 Change Change in % EBIT 44 in EUR million 581.7 663.4 -81.7 -12% EBIT margin 45 in % 7.5% 9.0% -1.5% -17% EBITDA 46 in EUR million 1,964.1 1,996.8 -32.7 -2% EBT in EUR million 111.6 193.2 -81.6 -42% Return on equity 47 in % 3.5% 5.5% -2.0% -36% Return on assets 48 in % 1.4% 1.7% -0.3% -18% With total revenues of approx. EUR 7,806.3 million (py: approx. EUR 7,397.7 million), a slight increase was recorded compared to the previous year. The ÖBB Group’s EBIT fell to approx. EUR 581.7 million in the reporting year (py: approx. EUR 663.4 million); the EBIT margin was 7.5% (py: 9.0%). EBITDA fell by 2% to approx. EUR 1,964.1 million in the reporting year (py: approx. EUR 1,996.8 million). After a result of approx. EUR 193.2 million in the previous year, an EBT of approx. EUR 111.6 million is reported this year. This corresponds to a decrease of approx. EUR 81.6 million compared to the previous year. Return on equity was 3.5% (py: 5.5%), return on assets 1.4% (py: 1.7%). 44 EBIT corresponds to operating profit (not including earnings of investments accounted for using the equity method) in the consolidated income statement. 45 EBIT margin: EBIT / Total income. 46 EBITDA: EBIT + depreciation and amortisation. 47 Return on equity: EBT / Equity. 48 Return on equity: EBT / equity MR22 |