State-owned Dutch railway company NS has recorded a loss for the fifth year in a row, although 2024’s figures are an improvement on 2023.

In total, the company ended the year €141 million in the red, compared with €187 million in 2023.

The number of late trains rose very slightly, but this is mainly due to maintenance work, director Wouter Koolmees said. Some 89.4% of trains arrived on time. “In financial terms, things are still complicated for NS,” he said. “We are earning more, but costs are rising more quickly.”

The train is becoming a more popular way to travel abroad, with international ticket sales up 10% last year. However, the company expects it to be 2030 before total passenger numbers return to pre-coronavirus levels and is still feeling the impact of the shift to working from home.

The NS does not expect an end to the “poor performance” on the high-speed train network in 2025, following speed limits imposed last year. Trains are now able to travel at 120 kph again, but this is still well below the 200 kph target for domestic services and 300 kph for cross-border trains, the NS said.

The company, which operates at arm’s length from the state, paid €533 million to the infrastructure ministry for its licence last year, an increase of 15% on the previous year.

Koolmees did not say anything concrete about eventual ticket price increases. Prices were frozen last year after a government cash injection but are due to rise by 6.18% in 2025. The company says it plans to attract more passengers through discounts for off-peak travel.