Iarnród Eireann’s 2023 Annual Report reveals significant growth in passenger journeys and a robust financial performance. The report highlights a 28.5% increase in passenger journeys, totalling 46.1 million trips, a figure nearing the pre-pandemic 2019 level of 50.1 million.
Financially, the company reported a net surplus of €7.5 million, a substantial increase from the €0.8 million surplus recorded in 2022. This was driven by increased revenues from both freight and passenger services.
The company says it remains dedicated to sustainability, targeting a 51% reduction in emissions by 2030. Major projects supporting this goal include the Glounthaune to Midleton Twin Track project, the introduction of a new DART+ battery-electric fleet, and the development of the National Train Control Centre.
The freight sector saw mixed results in 2023, generating €10.7 million, with rail freight contributing €4.6 million and the rest coming from Navigator Forwarding, which specialises in automotive distribution. Rail’s contribution fell by €0.2 million, primarily due to the closure of Tara Mines.
Despite this, the company is moving forward with its Rail Freight Strategy 2040. Key initiatives include phase one of the Shannon Foynes Line project to restore freight services, refurbishing the pocket wagon fleet, and launching trials in partnership with Doyle Shipping Group at Dublin Port. Additionally, XPO Logistics began shipping products from Ballina to the Port of Waterford, further enhancing rail freight growth.
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