57.4 Million Shekel Profit for Israel Railways in H1 2025

Yesterday, Israel Railways published its results for the first half of 2025. The first half results indicate a clear trend of strengthening the financial resilience of Israel Railways. Over the past year, the rating companies 'Maalot' and 'Midroog' have upgraded Israel Railways and its bond rating from +AA to AAA. The rating upgrade stems from a significant improvement in the company's operations and strengthening its financial resilience, in light of the new operation and development agreement with the state, which also strengthens, in their estimation, the connection between the company and the state. This is alongside continued extensive investments in Israel Railways and rail transport.

The total profit for the first half of 2025 stood at 57.4 million shekels compared to a total profit of 101.76 million shekels in the corresponding half last year. The company ended the first half of 2025 with an operating cash profit (Adjusted EBITDA) of about 68.49 million shekels, compared to an operating cash profit (Adjusted EBITDA) of about 117.21 million shekels in the corresponding half last year. The company's total revenues amounted to about 1.81 billion shekels compared to 1.69 billion shekels in the corresponding half last year.

In the first half of 2025, Israel Railways carried about 3.3 million tons compared to 3.1 million tons in the same period last year. The railway's cargo transport revenues in the reported half stood at 159.6 million shekels compared to 162.9 million shekels in the same period last year. The losses of the cargo sector in the first half of 2025 stood at about 52.6 million shekels, compared to a loss of 30.1 million shekels in the same period last year.

The daily average of trips in the first half of 2025 stood at about 265 thousand trips per day, compared to about 250 thousand trips per day in the corresponding half last year. In the first half of 2025, 34.3 million trips were made compared to 31.4 million trips in the corresponding half last year. The travel data in the reported quarter were greatly affected by the 'With the Lions' operation, which led to a decrease in the number of passengers and also to a reduction in service due to the recruitment of workers for the war effort.

The revenues from passenger transport in the first half of 2025 amounted to 1.6 billion shekels compared to 1.49 billion shekels in the same period last year.

Chairman of the Board of Directors of Israel Railways, Adv. Moshe Shmaoni: "Israel Railways continues to strengthen its financial resilience for the benefit of improving the quality of life of all residents of the state, and grows in all aspects: financial, infrastructural, operational, and more. I thank the Ministry of Transport, the board members, partners, the railway management, the Ministry of Finance and the Companies Authority for the accompaniment and assistance in the development of the railway, and turning it into a strong and leading company in the landscape of government companies."

CEO of Israel Railways, Shiko Zana: "Despite the many challenges we faced in the last half, such as recruiting hundreds of railway workers for reserves, missile falls at railway stations, and operation in extreme emergency situations, we continued to promote and strengthen Israel Railways while improving the service. I thank the company's board of directors, the railway workers, and the Ministry of Transport and Finance for the partnership and dedication."