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. Difference from prior year reflects higher costs associated with readiness for the introduction of increased services.
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2023/24 FY Spend £396.9M |
2024/25 FY Forecast £433.2M |
2024/25 FY Budget £438.8M |
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 also new rail rolling stock for the transformation of the services.
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2023/24 FY Spend £446.4M |
2024/25 FY Forecast £330.4M |
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 in the forecast process.
KPI: 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
Ticket sales increased significantly in Q2 2024/25 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 journeys of under 20 miles. Passenger journey growth in South Wales and the North Wales & Borders region drove 75% of the increase in journeys Year-on-Year.
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Q2 2023/24 £34.7M |
Q2 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.
