NS €60 mil. in the red in first half of 2025 despite higher passenger numbers

Dutch rail company NS once again posted a loss of tens of millions of euros in the past six months. According to the rail company, discount tickets and campaigns did result in more passengers on the train, but “less than hoped.”

The operating loss for the first half of the year decreased slightly to €60 million, from €65 million in the same period last year. “Still clearly insufficient for a financially healthy NS,” the company stated. To return to profit, NS must “continue to cut costs and attract more passengers in the coming years, particularly during off-peak hours when there is still plenty of room on the train.”

According to the company, costs remain higher than revenue from the sale of train tickets and season tickets. The net loss for the first half of the year amounted to €9 million.

The railway company said it must continue to make hard choices to keep train tickets “relatively affordable” and to minimize the impact on passengers. “And this while we are also facing budget cuts in public transport and a lower government contribution to student public transport passes, which amount to €97 million less annually,” the company said.

NS also said that the inflation that drove up costs in recent years has not been fully reflected in train ticket prices. Earlier this month, caretaker State Secretary Thierry Aartsen (Public Transport) announced that train tickets will increase by 6 to 9 percent next year.

Passenger transport revenues rose slightly in the first half of the year to almost €1.5 billion, “despite the fact that NS had to deal with the NATO summit, strikes, railworks, and a relatively high number of infrastructure disruptions during this period.”

The company invested €146 million in the past period in, among other things, the purchase and modernization of trains and the expansion and sustainability of workshops, stations, and offices. NS also invested in hiring new employees.