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Austrian Federal Railways increases profit by 68 pct in 2014

Xinhua, April 18, 2015 Adjust font size:

State-owned Austrian Federal Railways (OeBB) recorded a pre-tax profit of 185 billion U.S. dollars for 2014, a 68 percent increase over the year prior, company CEO Christian Kern said here on Friday.

"We have earned capital costs in all crucial company divisions -- freight and passenger traffic and our bus service, for the first time," Kern said.

The improvement is due to not only cost reductions but also the increasing satisfaction of customers, he said, claiming "we are the European leader."

The OeBB plans to push forward with numerous investments with a goal in becoming both more international and more digitally networked, Kern said. The increased competition combined with deregulation means growth must be sought in the "European home market."

Its freight services currently operate in 19 countries, with expansions planned for operations in Germany, the Benelux countries, and South-eastern Europe. Endi