SWITZERLAND | SBB CFF FFS reports record passenger numbers and punctuality in 2025, while warning over future investment needs

Switzerland’s national railway operator SBB CFF FFS carried a record number of passengers in 2025, achieving both unprecedented demand and the highest punctuality levels ever recorded. 

However, despite a headline profit approaching half a billion Swiss francs, the company warns that its financial position remains under pressure as major investments in rolling stock and energy infrastructure loom.

Record demand and strong but partly one-off profits

In 2025, an average of 1.43 million passengers travelled daily on SBB CFF FFS services, surpassing the previous record of 1.39 million in 2024. The growth in demand generated higher revenues from passenger transport, although this was partly offset by rising operating, maintenance and energy costs, as well as declining revenues in the freight sector. The company’s real-estate division once again delivered a solid financial performance.

The railway group reported an annual profit of CHF 496 million, up significantly from CHF 275 million in 2024. However, around half of this result is attributable to positive one-off accounting effects, notably a reduction in pension liabilities following a lower risk of future restructuring of the company’s pension fund. Because these accounting adjustments do not generate cash flow, they do not contribute to reducing the company’s debt. On an operational basis, the financial result was essentially unchanged compared with 2024.

Debt levels declined slightly to CHF 11.3 billion, compared with CHF 12.1 billion the previous year, thanks in part to an extraordinary capital injection of CHF 850 million from the Swiss Confederation. 

This contribution was intended to partially compensate the long-distance passenger business for losses incurred during the coronavirus pandemic. Combined with continued cost-saving and efficiency measures implemented by SBB CFF FFS, the support helped stabilise the group’s finances. Nevertheless, the company acknowledges that its debt remains too high.

Rising costs also mean the railway operator currently generates insufficient operating profit to finance future investment needs, particularly for new rolling stock and energy infrastructure. In the medium term, SBB CFF FFS estimates it will need an annual operating profit of around CHF 500 million to sustain necessary investment levels. As a result, the company intends to continue pursuing efficiency improvements and cost-reduction measures.

Operational performance and record punctuality

Operationally, the railway recorded a particularly strong year. Despite more than 20,000 construction sites across the network, passenger train punctuality improved further to 94.1% in 2025, compared with 93.2% in 2024, marking a new record.

The introduction of a revised timetable for French-speaking Switzerland, Romandy,  and the strategic grouping of engineering works during major line closures contributed positively to performance. SBB CFF FFS also demonstrated strong operational flexibility in handling major events, running around 1,600 special trains during the year.

However, some operational challenges remain. International trains frequently arrive late at Swiss border stations such as Basel and Schaffhausen, affecting network reliability. 

Security

Security has also become a growing concern. The railway operator reports an increase in violent incidents directed at staff, alongside a rising number of cyberattacks targeting railway systems.

In response, SBB CFF FFS has strengthened the presence of the Transport Police, introduced body cameras for staff, launched safety campaigns, and invested in improving the railway system’s resilience against cyber threats.

Passenger satisfaction rises

Passenger satisfaction with the Swiss rail system continues to improve. More travellers are choosing the train for weekend journeys and international connections, with services now linking Switzerland to more than 120 destinations abroad.

To meet growing demand, SBB CFF FFS is expanding international services in cooperation with partner railways, increasing train frequencies and simplifying ticketing and passenger services. Improvements include easier purchase of international tickets via the SBB Mobile app, as well as integrated seat reservations.

Passengers also value the broad range of public-transport ticket products available, including Half Fare PLUS, the GA Night travelcard, and discounted Flex tickets. These developments helped raise the customer satisfaction score to 80 out of 100 in 2025, compared with 79.2 in 2024.

In contrast, satisfaction among customers of SBB Cargo Switzerland declined slightly to 65 points, down from 67.6 in 2024, reflecting the ongoing restructuring of the freight business as well as pricing and service adjustments.

Stable workforce and strong staff engagement

The company emphasises that employee engagement remains central to its performance. Staff motivation remained stable at 80 points out of 100, unchanged from 2024.

SBB CFF FFS employed 35,770 staff in 2025, broadly in line with the 35,569 full-time positions recorded in 2024. In recent years, the group has created additional roles in operational areas such as train drivers and onboard staff, while gradually eliminating positions that are no longer required as the organisation evolves.

Freight transport undergoing restructuring

A major restructuring of the freight business began in 2025. The reform involves collaboration between the railway operator, freight customers and the Swiss Confederation.

The federal government has agreed to temporarily support single-wagonload freight transport, while customers will pay for services at cost price. At the same time, SBB CFF FFS is investing in operations, improving efficiency and reducing costs.

The company has also introduced a new strategy for combined transport, with the first north–south service under the Swiss Cargo Logistics concept launched in early 2026. During 2025, the railway signed numerous contracts with major freight customers.

Another milestone was the signing of a performance agreement with the Swiss Confederation covering single-wagonload freight operations. The exact number of jobs affected by the restructuring will be announced in spring 2026. According to the company, the project aims to secure long-term employment while ensuring environmentally sustainable freight supply for Switzerland.

Infrastructure expansion and maintenance debate

At the end of January 2026, the Federal Department of the Environment, Transport, Energy and Communications (DETEC) published the main outlines of the forthcoming “Transport ’45” railway development programme.

SBB CFF FFS welcomed the prioritisation of infrastructure projects and intends to provide a detailed response during the consultation process, expected to begin in June 2026.

The railway operator argues that network expansion is necessary as capacity bottlenecks are expected to emerge in the future. However, it emphasises that projects should be prioritised based on maximum benefit for passengers, manageable long-term maintenance costs, and compatibility with future mobility solutions.

Large infrastructure projects often only deliver their full benefits once complementary infrastructure is completed, and they also increase long-term maintenance costs. As a result, SBB CFF FFS stresses that preserving the existing network — known as maintaining the system’s ‘substance’ — must remain a priority.

Without sufficient funding for maintenance and renewal, the railway warns that the availability and reliability of Switzerland’s rail network could be compromised in the future.

Alongside expansion projects, both network maintenance and digitalisation will require significant financial resources. Digital technologies are expected to play a key role in the future railway system, enabling more trains to operate on the network while improving reliability and operational efficiency.

2013 Grand Tour of Switzerland

In 2013 Danny went on a Grand Tour of Switzerland by rail. 

1. Brussels – Luxembourg – Strasbourg – Basel;
2. The old Gotthard Line; 
3. Locarno to Brig, via the Centovalli, through Italy and the Simplon Tunnel;
4. Brig to Zermatt on the Mattherhorn and Gotthard Bahn;
5. Gornergratbahn;
6. Matterhorn Glacier Paradise;
7. Zermatt to Interlaken;
8. Jungfrau;
9. First cable car; 
10. Schilthorn Mountain and Trümmelbach Falls;
11. Schynige Platte Bahn;
12. Meiringen and the Reichenbach Falls; 
13. Zentralbahn to Lucerne and Engelberg; 
14. Lucerne and Kussnacht am Rigi; 
15. Rigi Mountain and Schwyz.

Danny touring Switzerland in 2018

1. Milan – Bernina – Sankt Moritz;
2. Hotel Soldanella Sankt Moritz;
3. Albula, Furka and Loetschberg passes;
4. Waldhotel Doldenhorn Kandersteg;
5. The Golden Pass line;
6. Golf Hôtel René Capt Montreux;
7. Swiss Riviera;
8. Lake Geneva and Geneva;
9. InterContinental Geneva;
10. TGV Lyria.

Timothy going to Switzerland in 2018, 2019 and 2020

• Antwerp to Zug by train;
• PHOTOS | Zug city tour;
• PHOTOS | Swiss Museum of Transport Verkehrshaus in Lucerne;
• VIDEO | Pilatus-Bahn – Mount Pilatus cogwheel railway in Switzerland;
• VIDEO | Gotthard Pass and Old Gotthard Tunnel in Switzerland;
• Landesmuseum Zürich and Zürich itself;
• Paris – Geneva – Lausanne with TGV Lyria first class on an Alstom TGV Duplex;
• REVIEW | Tralala Hotel Montreux;
• VIDEO | Snow white GoldenPass Line ride from Montreux to Zweisimmen, Interlaken and Lucerne in Switzerland;
• VIDEO | Mythical Mythen, Schwyz, Switzerland;
• Zürich – Frankfurt – Brussels with Deutsche Bahn’s ICE high speed trains;
• Antwerp – Brussels – Cologne – Basel – Zürich – Zug by train;
• Château de Gruyères Castle in Switzerland’s Fribourg canton;
• VIDEO | La Maison du Gruyère – Gruyère House in Gruyères, Fribourg, Switzerland;
• Walking on a frozen lake at Valbella and Lenzerheide (Lai) in Grisons, Switzerland;
• SWITZERLAND | Jungfraujoch, Europe’s highest railway station;
• SWITZERLAND | Rapperswil-Jona, Town of Roses;
• SWITZERLAND | Einsiedeln and its Abbey;
• EUROCITY EC-8 | Zürich to Cologne in SBB’s Panoramic Car;
• Bearhunting in Bern;
• Antwerp to Zug: the Frankfurt – Zurich Business Route;
• SWITZERLAND | Lindt Home of Chocolate in Kilchberg, canton Zurich;
• Kunsthaus Zürich art museum;
• ZUG | ‘Neuer Zuger Trail’ art and architecture walking rally by smartphone;
• Coping with train delays and cancellations: Zug – Antwerp when everything goes wrong.

2022 Train Tour of Switzerland ft. Circuit Zandvoort and the Mont-Blanc Express

1. Zandvoort, home of the Formula 1 Dutch Grand Prix.
2. REVIEW | ÖBB Nightjet Amsterdam – Zurich night train.
3. SWITZERLAND 2022 | Thun and Thun Castle.
4. SWITZERLAND 2022 | The Lausanne Métro.
5. REVIEW | Hotel du Raisin in Lausanne.
6. SWITZERLAND 2022 | The Vineyard Terraces of Lavaux in Vaud.
7. SWITZERLAND 2022 | Two days in Lausanne.
8. Romandy.
9. SWITZERLAND 2022 | Sankt Moritz.
10. REVIEW | Hotel Arte in Sankt Moritz.
11. SWITZERLAND | The Glacier Express from Sankt Moritz to Brig (and to Zermatt).
12. SWITZERLAND | The Grisons or Graubünden.
13. SWITZERLAND 2022 | Thurbo Seelinie, discovering Switzerland’s northern lake route.
14. SWITZERLAND 2022 | Sankt Gallen.
15. SWITZERLAND 2022 | Voralpen-Express: Sankt Gallen – Rapperswil – Lucerne.
16. MONT-BLANC EXPRESS | Linking Martigny, Chamonix and Saint-Gervais-les-Bains in the Alps.
17. REVIEW | Urban Hôtel & Spa in Aix-les-Bains.
18. Switzerland 2022.
19. EUROCITY EC-52 | Milan to Basel (and to Frankfurt) via the Simplon Tunnel.
20. SWITZERLAND | Basel during Herbstmesse.
21. REVIEW | Hyperion Basel.
22. EUROCITY EC-8 | Basel to Cologne in SBB’s Panoramic Car.

Eurovision Song Contest 2025 in Switzerland

• SWITZERLAND | Introducing Geneva.
• SWITZERLAND | Introducing Basel.
• SWITZERLAND | Introducing Sankt Gallen.
• SWITZERLAND | Introducing Bern.
• SWITZERLAND | Introducing Zurich.
• SWITZERLAND | Introducing Lucerne.
• SWITZERLAND | Introducing Lausanne.
• SWITZERLAND | Biel/Bienne, Lugano and Fribourg named as potential 2025 Eurovision Contest host cities.
• SWITZERLAND | Eurovision Song Contest 2025 to be held in Basel or Geneva.