Massive Losses for Federal Railroad

TransportRail ♦ Published: April 30, 2011; 12:57 ♦ (Vindobona)

The Austrian Federal Railways (ÖBB) had to report a record loss of € 330m in 2010. CEO Kern speaks of "legacy".

Massive Losses for Federal Railroad / Picture: © Wikimedia Commons / Tokfo [Attribution]

The negative result is mainly due to developments in the freight division RCA, which generated a loss of € 353m. CEO Christian Kern said: "The net result is a reflection of the past. This legacy has been created over years."

The EBT amounted to € 329.8m last year, after being clearly positive in 2009 at € 120.8m. Although sales increased by € 334.2m to 6.08m, the EBIT…