CIE's annual report shows that the group recorded a deficit of €4m last year, mainly because of a once-off restructuring cost of €20m at Iarnrod Eireann. This figure includes grants of €262.5m from the State for providing public transport services.
CIE also received Exchequer funding of €280.6m for capital spending. Pay costs increased by €14.5m, mainly because of pay rises under Sustaining Progress.
Dublin Bus and Bus Eireann both returned a surplus but the Iarnrod Eireann charge left it with a deficit of €19.4m. Bus Eireann reported a surplus of €1.5m last year, following losses of €9.4m in 2002, while Dublin Bus's surplus more than doubled to €7.3m.
CIE says more people are now using public transport than at any time over the past 25 years, but is says traffic congestion is costing the two bus companies €68.6m a year. It says average daily bus speeds are now down to 12km per hour, compared with an international average of 23km per hour.
Passenger numbers at Dublin Bus rose by 2% to 149 million, while Iarnrod Eireann carried a record 35.5 million people.
Dublin Bus's annual report, also released today, shows that it received a state subvention of €53.8m, down from €56m in 2002. It says this is one of the lowest levels of public service obligation payments made to a bus operator in Europe.
Dublin Bus said revenue growth remained strong despite traffic congestion costing the company an estimated €49m a year due to large infrastructural works in the city including the Luas, Port Tunnel and the O'Connell St. regeneration.
