KPI: Operating Expenditure
The latest full year forecast for operational expenditure against full year budgeted operational expenditure.
Overview
The full year forecast aligns with the TfW Budget within the Business Plan. The figures below have been updated since the previous report to reflect spend after adjusting for new lease accounting arrangements, to align to our Welsh Government funding basis.
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2023/24 FY Spend £354.6M |
2024/25 FY Forecast £378.3M |
2024/25 FY Budget £379.6M |
Well-being of Future Generations Act (WFGA) goals addressed:
1. A Prosperous Wales
Forward look
We continue to review spend across TfW to identify risks and opportunities. We build management challenge and efficiency savings into the budget setting process.
KPI: Capital Expenditure
The latest full year forecast for capital expenditure against full year budgeted capital expenditure.
Overview
The full year forecast remains aligned to the TfW Budget within the Business Plan with the majority of spend on the Core Valley Lines and new trains for the transformation of the services. Reduction since last quarter relates to changes in scope on non-rail activity, particularly bus.
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2023/24 FY Spend £446.4M |
2024/25 FY Forecast £326.7M |
2024/25 FY Budget £331.9M |
Well-being of Future Generations Act (WFGA) goals addressed:
1. A Prosperous Wales
Forward look
We continue to review spend across TfW to identify risks and opportunities. We build management challenge and efficiency savings into the forecast process.
KPI: Revenue from ticket sales
The revenue earned from rail ticket sales. This is commonly referred to as Passenger Revenue (although Farebox Income is used interchangeably across the industry).
Overview
In Q3 2024/25, revenue from ticket sales increased compared to the same quarter last year. A key driver for this increase was the growth in the number of passenger journeys, particularly on short distance journeys of under 20 miles. Passenger journey growth in South Wales and the North Wales and Borders regions drove 72% of the increase in journeys Year-on-Year.
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Q3 2023/24 £36.4M |
Q3 2024/25 £41.9M |
Well-being of Future Generations Act (WFGA) goals addressed:
1. A Prosperous Wales
Forward look
We will continue to enhance ticket buying by exploring innovative approaches to fares and pricing such as Pay As You Go ticketing in South Wales. To make journeys easier for rail and bus customers, we are looking at ways of combining rail and bus travel in one ticket.
