SBB half year results 01-06 2025

[bahnause]

SBB published its half-year results for January to June 2025 today. I have compiled the most important figures:

• Profit amounts to CHF 48 million, weighed down by high maintenance costs and declining revenues in freight transport.
• In the first half of the year, 1.41 million passengers travelled on SBB trains every day. That is 4.8 per cent more than in the same period last year – and more than ever before. However, growth has slowed.
• SBB has been able to increase customer satisfaction. This was due to improvements in the timetable, more seats and increased punctuality. 94.5 per cent of trains were on time in the first half of the year. That is 0.7 percentage points more than in the same period last year – a new record.
• 2025 is a ‘year of events’ for SBB. In the first half of the year, 2.5 million passengers travelled to events such as the Eurovision Song Contest. SBB deployed 600 extra trains for transport. In the second half of the year, another 1,000 extra trains will be in service for customers.
• SBB Cargo posted a deficit of around CHF 76 million last year. Further measures are planned to make freight transport profitable.

Link to the official press release: Halbjahreszahlen 2025

 

[MarkyT]

• SBB Cargo posted a deficit of around CHF 76 million last year. Further measures are planned to make freight transport profitable.

The Gotthard base tunnel accident and closure over the last few years must have hit freight revenues and raised costs for slow lengthy diversions.

 

[Watershed]

94.5 per cent of trains were on time in the first half of the year. That is 0.7 percentage points more than in the same period last year – a new record.

And that's based on a measure we might consider equivalent to 'time to 3' (TT3) in Britain. The average TT3 for British TOCs is only 85.9% as of the latest data period (Jan to March this year).

TT3 excludes cancellations though (AIUI), so you'd have to deduct another 3.1% to account for that. In all, that makes SBB trains around 3.1 times less likely (5.5% vs 17.2%) to be cancelled or materially delayed.