Swiss Federal Railways (SBB) announced a return to profitability in the 2023 financial year, marking its first positive financial result since 2019. This turnaround was achieved amid a record-breaking increase in passenger numbers, with daily ridership reaching 1.32 million in 2023, up from 1.16 million the previous year. This surge in travelers helped SBB match its 2019 passenger levels, attributed in part to the dedication of its workforce. The growth in passengers, particularly for leisure travel within Germany and to neighboring European destinations, led to an uptick in revenue, notably within long-distance transport. For the first time in three years, this sector reported a profit of 122 million EUR, a significant improvement from a 49 million EUR loss in 2022.
This financial outcome reflects the combined earnings from long-distance transport, SBB Real Estate, and the energy sector. Despite these gains, SBB's debt remains substantial at 11.73 billion EUR, only marginally reduced from 2022. The company acknowledges that while the profit is a positive step, it falls short of substantially mitigating debt or offsetting prior losses to facilitate future investments, such as in new rolling stock.
SBB also focused on stabilizing the rail system amidst the record passenger numbers and ongoing infrastructure projects, including approximately 20,000 construction sites. Despite these challenges, SBB maintained safe, clean, and punctual train services. However, the increase in ridership has led to fewer available seats and lower customer satisfaction ratings regarding cleanliness, impacting overall traveler satisfaction slightly.
The company emphasized the importance of digitalization in improving operational efficiency and productivity. SBB plans to reduce costs by around 6.25 billion EUR by 2030 to stabilize its financial situation further. The Swiss federal government is also expected to contribute to covering long-distance transport losses incurred during the COVID-19 pandemic.
