A total of 16.6m passengers used the services of the CFL in 2021 compared to 14,5m the previous year, which contributed to a year of financial recovery for the company. Photo: Romain Gamba/Maison Moderne

A total of 16.6m passengers used the services of the CFL in 2021 compared to 14,5m the previous year, which contributed to a year of financial recovery for the company. Photo: Romain Gamba/Maison Moderne

Luxembourg state railway company CFL posted a record turnover of €1bn for 2021 while improving its net income and increasing investment in modernisation and its railway network.

A total of 16.6m passengers used the services of the CFL in 2021 compared to 14.5m the previous year, which contributed to a year of financial recovery for the company. Railway traffic decreased by 42% in 2020 as a result of the breakout of the covid-19 pandemic. The return of full trains in 2021 contributed to €1.001bn of turnover marking a 9.4% increase from 2020 (€915.9m)

The railway company’s net income for 2021--constituting its income minus expenses, amortisation and taxes--reached €20.9m, up from €4.6m. CFL’s freight business contributed to the group’s improved financial figures with a consolidated net result of €6m, an increase of €5.2m from 2020. The company cited the new link between the Bettembourg-Dudelange terminal and Rostock in nothern Germany as a significant element in the progress of its freight activities.

In 2021, the CFL invested €288.4m in the modernisation, extension and maintenance of its network resulting in a record number of 311 construction days. The railway company’s employees grew by 430 reaching a total of 4,968.

Related articles