The main reasons for the deficit are value adjustments as well as losses of the infrastructure and energy units, according to a press release by the Swiss Federal Railways on Monday.
The negative business result was notably due to the war in Ukraine, which led to higher energy costs and inflation-related higher prices and interest rates. Due to the low rainfall in the summer, the national railway company had to buy more electricity on the market, the report said.
Debts of the state-owned company rose by 2.5% last year – .an increase of more than 27% compared with 2019.
Cutting costs
However, the Federal Railways recorded a steady increase in passengers last year, but still short of the figures before the Covid pandemic.
The company has announced a cost-cutting programme worth CHF6 billion over the next six years. The package by the Swiss government is intended to sustainably secure financing until 2030 and reduce debts.
The Federal RailwaysExternal link operates a fully electrified network of 3,265 km in standard gauge and has about 34,200 employees.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
Swiss sites no longer suitable to store radioactive waste
This content was published on
The Federal Department of the Environment is removing the three siting regions Jura-Südfuss , Südranden and Wellenberg from the sectoral plan for deep geological repositories. They were previously intended as reserve sites for the storage of low- and intermediate-level radioactive waste.
Swiss State Secretary warns against cutting development aid
This content was published on
The head of the Swiss State Secretariat for Economic Affairs criticised the plan to cut CHF500 million a year from development aid and use it for the army.
Swiss railways celebrate anniversary with historic trains
This content was published on
Celebrations have been launched to commemorate the 175th anniversary of the first time-table railway route in Switzerland.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.