ÖBB Annual Report 2023

83 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 38 Arlberg route Arlberg line; measures for timetable stability 10.7 2031 Bregenz – Bludenz; expansion of local transport (Rine valley concept) 12.7 2031 Programs Noise protection 6.4 Park & ride 9.8 Line electrifications 25.5 Regional rail network concept; line upgrades 87.8 Safety and operation management systems 305.0 Measures for customer satisfaction (mobile communications, data networks, wireless network) 0.7 Reinvestments in the railway network 664.5 Others (incl. intangible assets) 491.3 Total master plan and other investment projects 3,364.6 1) Commissioning of the service tracks, KLV and WLV facility took place in 2016. Phase 2 will be implemented by 2026. 2) Commissioning of the Vienna section took place in 2018 (Erzherzog-Karl-Straße – Vienna Aspern). The full expansion in the Stadlau to Marchegg area will be commissioned by 2024 and in the Marchegg to state border area by 2035. 3) Commissioning of the station conversion Neumarkt am Wallersee and Steindorf bei Straßwalchen already completed. 4) Commissioning of the Hennersdorf – Münchendorf section took place in 2019. The expansion in the Ebreichsdorf section was completed in 2023. 5) Commissioning of the Wien Süßenbrunn station conversion took place in 2023. 6) Commissioning of the Freistadt and Summerau station conversions took place in 2023. C.5. Corporate strategy GRI 2-22 Market environment The 2023 financial year was characterised by a rising number of travellers, accompanied by high inflation rates and economic upheaval. Economy in crisis The recovery from the pandemic was then followed in 2023 by the consequences of the war in Ukraine and massive increases in prices and inflation rates. This led to drastic interest rate hikes and a noticeable downturn in economic performance in European countries as well. The global economy looks set to feel the consequences of geopolitical tensions – between Russia and the West and between China and the USA – and the conflict in the Middle East for years to come. The resulting and increasing uncertainties are likely to have a dampening effect on globalisation and the global economy. The turnaround in interest rates will also put government budgets under increasing pressure to consolidate. At the same time, many countries are investing in the technological development and infrastructural expansion of the railway. Increased demand combined with a lack of resources, resulting supply bottlenecks and price increases as well as difficult supplier situations could have a dampening effect on the further development of necessary enabler technologies – particularly in the areas of digitalisation, automation and electrification in industry and transport. Sales volumes in rail freight transport have been stagnating or declining since 2020 due to COVID-19 and since 2022 due to the war in Ukraine and the weakened economy. Extreme weather events on the rise However, 2023 was also characterised by a large number of extreme weather events. The resulting consequential damage caused by landslides, embankment slides, overflowing torrents, floods, etc. has resulted in significant additional costs and quality losses. Investments and initiatives to minimise risk will also be required to an increasing extent in the coming years in order to create an infrastructure that is more resistant to extreme weather events. MR38 |