Srbija Voz

What Srbija Voz does

Srbija Voz is Serbia's state-owned national passenger railway operator, headquartered at Nemanjina 6, Belgrade, founded in 2015 as 'Srbija Voz' and rebranded to 'Srbijavoz' in November 2023. Operating as a joint stock company under full ownership of the Republic of Serbia, it holds a statutory monopoly on domestic passenger rail transport and runs a four-tier service portfolio: high-speed Soko (Inter City) trains on the Belgrade–Novi Sad and Belgrade–Subotica corridors (200 km/h CRRC Tiger EMUs, 36–79 minute journey times), Inter Regio and Regio Express regional services, standard Regio trains, and the BG Voz suburban network in Belgrade. The company also operates the heritage Voz Nostalgija tourist train on the Šarganska osmica narrow-gauge railway near Mokra Gora and international night/day services to Montenegro (Zemun–Bar) and Hungary (Subotica–Szegedin cross-border and Belgrade–Budapest connections).

The technology stack comprises CRRC Tiger series 411/419 electric multiple units with TSI European compliance and onboard diagnostic systems, a proprietary iOS/Android mobile application with over 150,000 active users, and a web-based ekarta ticketing platform. Revenue is generated through passenger ticket sales (domestic and international), mandatory seat/berth reservations on Inter City and night-train services, subscription products including the SRB PLUS loyalty card (30% domestic discount) and K-1 annual pass (RSD 72,000), accompanied car transport on the Zemun–Bar route (EUR 40 per car), special charter services, and on-board penalty fees (RSD 500). Distribution spans 20+ ticket offices, ticket machines, call center (011 360 28 99), mobile app, website, and onboard conductors.

Customer segments include domestic commuters and leisure travelers (primary), international travelers to Montenegro and Hungary, tourism and heritage rail enthusiasts, approximately 1 million PIO pensioner cardholders eligible for 30% discounts, and Belgrade suburban commuters. The company carried 7 million passengers in 2023, a 2.5x increase from 2.77 million in 2021, driven primarily by the Belgrade–Novi Sad high-speed corridor. Fleet modernization is being financed through sovereign-guaranteed loans and OEM contracts, including a €42M EBRD loan for 12 sleeping cars, a €300M+ contract with CAF for 30 BG Voz EMUs, and a €35.35M contract with Siemens Mobility for 6 multi-system locomotives.

Name

Srbija Voz

Legal name

Akcionarsko društvo za železnički prevoz putnika "Srbijavoz", Beograd

Website

https://srbijavoz.rs

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Srbija Voz is Serbia's state-owned national passenger railway operator, running high-speed Soko (Inter City), regional, suburban BG Voz, and heritage tourist trains domestically plus international services to Montenegro and Hungary under a regulated monopoly serving approximately 7 million passengers annually.

Ownership category

akta.pro rank

Product category

Passenger Rail Transport

NAICS

Transit and Ground Passenger Transportation (485), Scenic and Sightseeing Transportation, Land (48711)

SIC

Local & Suburban Transit & Interurban Hwy Passenger Trans (4100), Transportation Services (4700)

akta.pro primary industry

High-Speed Rail Passenger Operators (THAIAAAC)

akta.pro secondary industries

Regional Rail (Short-to-Mid Distance) Passenger Operators (THAIACAC), Tourist/Heritage Regional Rail (Commuter-Adjacent) Services (THAIACAJ), Rail & Intercity Bus Booking Engines (THALADAD)

Keywords

• Passenger rail transport
• National railway operator
• High-speed train service
• Suburban rail network
• Heritage tourist trains

Headquarters

HQ city

Belgrade

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Supply Chain, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Passenger Ticket Sales (Domestic): Core revenue from selling passenger tickets across domestic routes. Categories include Regio, Regio Express, Inter Regio, and Inter City (Soko) services. Pricing varies by train class (1st/2nd class), route distance, and reservation requirements. Monthly and annual subscription passes (SRB PLUS, K-1) provide recurring revenue from regular commuters.
2. Passenger Ticket Sales (International): Revenue from international routes including Zemun–Bar (Montenegro), Belgrade–Budapest via Subotica–Segedin transfers, and cross-border Subotica–Segedin service. International tickets priced in EUR with seat reservations required on most services.
3. Seat/Berth Reservations: Mandatory seat reservations on Inter City (Soko) services and sleeping car berths on the Zemun–Bar international night train. Berth categories include 6-berth, 4-berth, 3-berth, 2-berth, and single cabins. Reservation fees range from EUR 3 (seated) to EUR 48 (single cabin).
4. Automobile Transport (Zemun–Bar): Accompanied car transport service on the Zemun–Bar international route. Cars must be under 1.55m height. Price per car one-way: EUR 40.
5. Nostalgia Tourist Train (Šarganska osmica): Heritage tourist rail experience on the Šarganska osmica narrow-gauge railway near Mokra Gora. Operates seasonally (summer and winter) with steam/diesel locomotive hauled trains. Revenue from round-trip tickets priced at RSD 1,200–1,500 for adults, RSD 600–750 for children.
6. Penalty Fees: On-board ticket purchase penalty of RSD 500 for passengers boarding without a pre-purchased ticket, in addition to the regular ticket price. Applied to encourage advance ticket purchasing and reduce congestion.
7. Special Charter Services: Charter train hire for special schedules and routes ([email protected]). Custom tourism and event transportation services.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

Srbija Voz (Srbijavoz) operates domestic and international passenger rail services across Serbia, including the high-speed Soko Inter City trains (up to 200 km/h) on the Belgrade–Novi Sad and Belgrade–Subotica corridors, Inter Regio, Regio Express, and Regio regional services, the BG Voz suburban network in Belgrade, the heritage Nostalgia train on the Šarganska osmica narrow-gauge line, and international services to Montenegro (Zemun–Bar) and Hungary (Subotica–Segedin/Budapest). The company sells tickets through station offices, ticket machines, a mobile app, website, call center, and on-board conductors, and offers loyalty programs (SRB PLUS), annual passes (K-1), seat/berth reservations, and accompanied car transport on international routes.

Product overview

Srbija Voz is Serbia's national railway passenger operator offering a multi-tiered service portfolio. The core offerings include high-speed Soko (Inter City) express trains for major routes like Beograd-Novi Sad and Beograd-Subotica, Inter Regio and Regio Express regional services, and standard Regio trains for broader network coverage. The BG Voz suburban railway serves the Belgrade metropolitan area. Special services include the heritage Voz Nostalgija tourist train on the Šarganska osmica, and international services to Montenegro (Bar) and Hungary (via Subotica-Segedin). Supporting services include the SRB PLUS loyalty card (30% domestic discount), K-1 annual pass, Interrail integration for European travel, mobile app for ticketing, and car transport on international routes.

Differentiator

Problem solved

Functional benefit

Products and services

• Soko (Inter City) High-Speed Train High-speed express train service on Belgrade–Novi Sad and Belgrade–Subotica corridors with first and second class seating, mandatory seat reservations, accessibility features, and bicycle storage. Designed for individual passengers and business commuters.
• Inter Regio Train Service Regional express train service connecting major Serbian cities with intermediate stops; seat reservation not mandatory. For individual travelers on domestic routes.
• Regio Express Train Service Regional train service operating on reconstructed rail lines including Belgrade–Vršac and Belgrade–Užice routes. For individual domestic travelers.
• Regio Train Service Standard regional train service providing access to smaller stations and towns across Serbia. For individual domestic travelers in local and regional traffic.
• BG Voz Suburban Railway Network Suburban railway service covering the Belgrade metropolitan area, connecting the city center with surrounding suburbs including Lazarevac, Barajevo, Mladenovac, Resnik, Ovča, Batajnica, and Zemun. For daily commuters.
• Voz Nostalgija (Nostalgia Heritage Train) Tourist heritage railway on the Šarganska osmica narrow-gauge line near Mokra Gora featuring steam and diesel locomotives on a 100-year-old reconstructed railway. Seasonal summer and winter journeys with round-trip tickets priced at RSD 1,200–1,500 for adults and RSD 600–750 for children. For domestic and international tourists.
• International Night Train (Zemun–Bar) Night train service between Serbia and Montenegro featuring seated cars, couchette cars, sleeping cars in 6-berth, 4-berth, 3-berth, 2-berth, and single cabin configurations, plus car-carrying wagons (EUR 40 one-way). For cross-border travelers to Montenegro.
• Subotica–Segedin Cross-Border Service Cross-border regional service between Serbia and Hungary, with promotional fares (EUR 5) and monthly passes (EUR 80 adults, EUR 50 students from Subotica/Palić). For commuters and travelers between the two countries.
• Interrail Ticket Distribution Distribution of Interrail Global Pass and One Country Pass enabling pan-European rail travel across 33 countries and 30,000+ destinations, including Serbia. Available at Srbijavoz ticket offices. For European travelers.
• SRB PLUS Loyalty Card Personalized loyalty card (K-13/SRB PLUS) offering 30% discount on domestic train tickets, valid for one year and required for monthly subscription passes. For frequent domestic travelers and commuters.
• K-1 Annual Pass Annual subscription ticket valid in first and second class on all domestic services at RSD 72,000/year. Not transferable; seat reservation is a separate fee. For unlimited domestic travel.
• Srbijavoz Mobile Ticket Application Proprietary mobile application for iOS and Android enabling ticket purchasing, schedule lookup, real-time travel updates, promotional offers, and subscription ticket purchases. Over 150,000 active users. For individual passengers.
• Car Transport Service (Zemun–Bar) Accompanied automobile transport on the Zemun–Bar international route for vehicles up to 1.55 m height, at EUR 40 per car one-way. For travelers to Montenegro needing vehicle transport.

Quantifiable outcome

• 7 million passengers carried annually by 2023, a 2.5x increase in 2 years from 2.77 million in 2021
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Siemens MobilitycoreTechnology or Integration · 26 June 2026Srbijavoza awarded a €35.35 million contract to Siemens Mobility (Serbian and Austrian units as joint offer) for procurement of 6 new multi-system electric locomotives including 8+ years maintenance and staff training. Locomotives to operate across Serbia and 11 other European countries including Montenegro, Croatia, Slovenia, North Macedonia, Hungary, Bulgaria, Germany, Austria, Slovakia, Czech Republic, and Greece. Selected based on price and quality criteria after Alstom Transport failed to submit a bid.
• CAF (Construcciones y Auxiliar de Ferrocarriles)coreTechnology or Integration · 31 March 2026Spanish railway manufacturer CAF signed a contract with Srbijavoza for delivery of 30 three-unit electric multiple units (Civity platform) for the BG Voz suburban railway network in Belgrade, worth over €300 million. Each unit holds 546 passengers, max speed 120 km/h, with 2-year full maintenance included. Marks CAF's second contract in the Serbian railway market following a 2009 tram supply project.
• Gallery of Matica Srpska (Novi Sad)minorStrategic or Co-development Partner · 22 December 2023Partner in the 'Two Museums Connected by Train' art excursion initiative. Cultural partnership leveraging Soko high-speed trains to transport visitors between Belgrade and Novi Sad to visit both the Museum of Yugoslavia and Gallery of Matica Srpska in a single day. Over 40,000 visits recorded in one year attributed to train transport.
• Museum of Yugoslavia (Belgrade)minorStrategic or Co-development Partner · 22 December 2023Partner in the 'Two Museums Connected by Train' cultural excursion. Located 15 minutes walk from Belgrade Center railway station, the museum offers exhibitions accessible via Soko high-speed trains from Novi Sad.
• Elektromreža Srbije (Serbian Electric Grid)minorStrategic or Co-development Partner · 30 November 2023Partner in the 'Sokolom za sokola' (By Falcon for Falcon) environmental campaign. From each Soko train ticket sold, 1 dinar is allocated to purchase and install artificial nests for the steppe falcon (Falco cherrug) along the Belgrade–Novi Sad railway corridor. Elektromreža Srbije has previously installed 200 artificial nests in Vojvodina for steppe falcon conservation.
• Pokrajinski zavod za zaštitu prirode (Provincial Institute for Nature Protection)minorStrategic or Co-development Partner · 30 November 2023Partner in the 'Sokolom za sokola' environmental campaign. The institute is a leading carrier of scientific projects for steppe falcon conservation in Serbia and globally, managing the critically endangered species with only ~50 registered pairs in Serbia, mostly in Vojvodina.
• Opština AlibunarminorStrategic or Co-development Partner · 30 November 2023Partner in the 'Sokolom za sokola' campaign, providing support for cleaning steppe falcon habitat areas within the municipality's territory as part of the environmental conservation initiative.
• Udruženje 'Mladi istraživači Srbije' (Young Researchers of Serbia)minorStrategic or Co-development Partner · 30 November 2023Partner in the 'Sokolom za sokola' campaign, responsible for cleaning steppe falcon habitat areas in Alibunar municipality as part of the environmental initiative.
• Belgrade Fashion Week (Beogradska nedelja mode)minorGTM or Marketing Partner · 8 November 2023Co-organizer of the 'Voz je ponovo u modi' (Train is Back in Fashion) fashion show at Belgrade Center railway station, part of Perwoll Fashion Week. Srbijavoza provided the venue at the newly opened station for a fashion event showcasing 139 years of Serbian railway and fashion history.
• PIO Fund (Republic Fund for Pension and Disability Insurance)minorGTM or Marketing Partner · 27 October 2023Partnership with the Republic Fund for Pension and Disability Insurance enabling pensioners to receive 30% discount on all Srbijavoza services using the PIO Card. As of October 2023, approximately 1 million pensioners were registered for the PIO card.
• European Union Railways (Zajednica evropskih železnica)minorGTM or Marketing Partner · 7 September 2021Srbijavoza was a partner in the 'Connecting Europe Express' project launched during the European Year of Rail 2021. The train traveled through 26 countries and 100 cities from Lisbon to Paris (September 2 – October 7, 2021). Belgrade served as host city on September 12–13, 2021.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Others

• Eurail / Interrail: Distribution/inventory partner rather than a rail operator. Srbijavoz is part of the 33-country Interrail network; Eurail provides indirect benchmark for cross-border ticketing infrastructure and pan-European demand exposure.

Direct peers

• MÁV-START: Hungarian state-owned national passenger rail operator. Closest direct peer — same national operator mandate, similar post-socialist modernization trajectory, direct cross-border partner on Subotica–Segedin–Budapest corridor, and comparable high-speed/regional service portfolio.
• ŽPCG (Montecargo): Montenegrin state-owned rail operator. Direct counterpart for the Zemun–Bar international night-train route operated by Srbijavoz; small scale but functionally the gateway partner for Srbijavoz's most established international service.
• HŽ Putnički prijevoz: Croatian state-owned passenger rail operator. Comparable scale and product mix (InterCity, regional, suburban), same regional EU-accession context, and direct regional peer in the Western Balkans passenger rail market.
• BDZ Passenger Services: Bulgarian state-owned passenger rail operator. Similar scale and structure, neighboring Balkan peer undergoing comparable modernization, and potential future cross-border partner for Serbia–Bulgaria services.
• CFR Călători: Romanian state-owned national passenger rail operator. Comparable in scale and service portfolio (InterCity, InterRegio, Regio), similar post-socialist fleet modernization journey, and the largest regional peer by network size.
• Slovenske železnice (SŽ Potniški promet): Slovenian state-owned passenger rail operator. Comparable regional scale and modernization profile; relevant given Siemens multi-system locomotive certification explicitly includes Slovenia for Srbijavoz's planned EU services.

Broad incumbents

• České dráhy: Czech Republic national passenger rail operator. Larger established EU operator with mature suburban (Esco), regional, and long-distance portfolio; useful comparable for digital ticketing penetration and loyalty-program design.
• PKP Intercity: Polish state-owned long-distance passenger rail subsidiary. Larger and more established regional player with comparable high-speed (Pendolino/EIP) and regional InterCity portfolio; useful comparable for unit economics and modernization cadence.
• ÖBB-Personenverkehr: Austrian federal railways passenger division. Larger incumbent operating across similar corridors; relevant as Nightjet operator that Srbijavoz's planned Belgrade–Bari/Budapest sleeping-car service will partly overlap with.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/srbijavoz
• Facebookfacebook.com/srbijavoz
• Instagraminstagram.com/srbija_voz

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Srbija Voz