Transport for Wales (TfW) has published its 2024/25 Annual Report, revealing significant growth in rail passenger numbers and a positive impact on revenue for the not-for-profit organisation. The figures underscore the ongoing transformation of the Wales and Borders rail network.
Key highlights from the report include:
- 31.7 million train journeys made by customers – a fifth increase from the previous year.
- 17.8% increase in rail revenue, reaching £174.8 million.
- 77.1% of journeys made on new trains as of 24th May 2025.
- 1.2 million journeys on TrawsCymru bus contracts run by TfW – an 11.4% increase on last year.
- £47 million of Active Travel funding distributed.
TfW has been on a transformative journey since taking over the Wales and Borders rail franchise in 2018. This includes a substantial £800 million investment into brand-new trains and over £1 billion investment into the South Wales Metro.
This year has seen the successful electrification of the Treherbert, Aberdare, and Merthyr lines, with new trains now providing a significantly improved service to customers. Since 2020, TfW has laid over 120km of overhead cables and 70km of high voltage cable as part of its ongoing delivery of the South Wales Metro project.
A notable achievement in November 2024 saw TfW become the first heavy rail train operator outside of London and the South East of England to introduce a new Pay As You Go system at 95 stations throughout South Wales. Within just the first three months of its introduction, over 150,000 journeys were made using this new technology.
Cabinet Secretary for Transport and North Wales, Ken Skates said: “I am delighted with the progress TfW has made in transforming public transport across Wales and delivering an improved customer experience. Passengers are already experiencing benefits with more regular services, new trains, and better value fares. However, there is still an exciting programme of delivery ahead of us including the roll out of bus franchising, the development of Network North Wales, and the completion of South Wales metro. These improvements will help to connect communities, promote economic growth, and support new jobs.”
James Price, TfW CEO, said: “TfW has continually invested in public transport since we launched publicly in 2018 and we are now really starting to benefit from these investments with 31.7 million rail journeys made between 2024/25, resulting in a 17.8% increase in our rail revenue to £174.8 million. Our new trains and the fundamental changes we’ve made to rail timetables to offer more services have allowed us to attract more people to our network. Across our TrawsCymru bus network we’ve also seen increases in customers and we’ve been able to adjust our summer timetables to meet seasonal demand. Through distributing £47 million for Active Travel projects we’ve been able to make it easier for people to walk, wheel or cycle and this is a key part in creating a fully multi-modal public transport network.”
Scott Waddington, TfW Chair, added: “As I come to the end of my seven years as Chair of TfW, it is timely to reflect on the enormous progress I have witnessed during my tenure. The people of Wales are now seeing the benefits of our hard work. TfW has continually grown and evolved as an organisation and our investment into the public transport network is now very visible and is helping improve people’s lives in Wales bringing social, economic and environmental benefits. Brand-new trains, buses and electrified services are now here in Wales and next year we’ll see the introduction of tram-trains to our public transport network. I’d like to thank everyone at TfW for their dedication and hard work, and I look forward to watching the organisation continue to flourish.”
For the full annual report, please visit: https://tfw.wales/about-us/transparency/publications/annual-report-and-financial-statements/2024-25
