The National Railway Company of Belgium (SNCB) posted an operating income of €142.2m in 2023 – a substantial increase from €39.6m in the previous year despite energy prices rising.
The SNCB saw a 7.6% rise in passenger numbers in 2023, carrying 244.6 million commuters over the course of the year. This is equivalent to 96% of the weekday figures seen in 2019, before the pandemic hit. Moreover, home-to-school and leisure journeys have returned to pre-pandemic levels. However, commuting to work remains 10% lower, likely a result of increased remote working.
Leisure travel during weekends rose by almost 20% compared to 2019 while summer holiday travel in July and August increased by 8% compared to 2022. Furthermore, off-peak passenger numbers rose 10% compared to 2019.
An impressive EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) figure of €142.2m – over €100m more than the previous year, was reported. This significant jump in revenue is both from domestic and international operations, and comes despite costs inflating – especially in energy (a 34% increase in 2023).
Energy-saving measures saw the SNCB's energy consumption drop 2% last year.
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The results mean that the SNCB's deficit fell from €2.275bn at the end of 2022 to €2.228bn at the end of 2023. The objective is to bring this debt burden down to €1.5bn by 2032.
The rail company invested an impressive €852.3m in 2023 – up 10% on 2022. This includes purchasing and rolling out new M7 double-decker trains, renewing and maintaining existing trains, and continuing the European Train Control System’s (ETCS) implementation. It also covers infrastructure renovations – including to stations, tracks, and bicycle parking spaces.
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Additionally, the company continued its digitalisation, particularly in station information displays and implementing a new app catering to mobility-impaired individuals.
Finally, the SNCB hired 1,600 new staff in 2023, mostly in operational roles. "For the first time in ten years the number of recruitments exceeded the number of departures", the company reported.
