KPI: Operating expenditure
The latest full year forecast for operational expenditure against full year budgeted operational expenditure.
Overview
The full year forecast are aligned with the TfW Budget within the Business Plan.
2025/26 FY Spend £422.4M | 2026/27 FY Forecast £431.6M | 2026/27 FY Budget £531.9M |
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 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 are aligned to the TfW Budget within the Business Plan and the final funding letter.
2025/26 FY Spend £379.9M | 2026/27 FY Forecast £257.9M | 2026/27 FY Budget £249.3M |
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: 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
Revenue from ticket sales increased by 20.5% year on year in Quarter 1. Growth during the quarter was partially driven by the increased number of days in the first period of 2026/27 vs the same period in 2025/26, although strong volume growth in the Cardiff and the South Wales Valleys area and the central and west Wales area also contributed.
Q1 2025/26 £41.9M | Q1 2026/27 £50.5M |
Well-being of Future Generations Act (WFGA) goals addressed:
1. A Prosperous Wales
Forward look
In 2026/27, the expansion of contactless pay as you go in North Wales and the continued success in South East Wales will be key to driving up revenue. All increases in revenue will be reinvested into improving the services we offer.
