Dutch rail operator NS made a profit from passenger transport for the first time since 2019 last year, helped by higher ticket prices, slightly higher passenger numbers and cost-cutting measures.

The company, which is 100% state-owned, reported an underlying operating profit of €11 million, excluding one-off items. A year earlier it recorded a loss of €141 million.

NS said the result is still not enough to make the company financially healthy. Passenger numbers collapsed during the COVID-19 pandemic and have yet to fully recover because home working has become more common.

The NS has spent more money than it earned for years, as it invested hundreds of millions of euros annually in trains, staff and stations. As a result, its debts have risen to more than €1.2 billion.

The company plans to reduce the number of office staff and lower spending on IT and consultancy as part of a cost-cutting programme.

NS also said train services were more punctual last year and passengers were less likely to have to stand during peak hours because more trains and staff were available.

More than 85% of journeys arrived with a delay of less than three minutes,  meeting the minimum target agreed with the government in the new concession for the main rail network.