CER Austria Cargo GmbH was successfully incorporated in the Austrian Corporate Registry on August 30th, 2024 as a 100% subsidiary of CER Cargo Holding SE. As a next step the application for achieving the Austrian railway license will be filed with the Austrian Ministry of Climate Protection. We expect the positive decision after doing all the application documentation by April 2025. This is an important step to reach our vision of being able to operate on our own license and with our own resources between Hamburg and Istanbul/Athens as an profitable private railway group. Next step is CER Germany Cargo GmbH.