Interim report August 2019
INTERN Key performance indicators T2 2019 T2 2018 Passenger train Number of train journeys - Norway (mill.) 46,9 45,5 Produced seat kilometres - Norway (mill.) 6 849 6 607 Punctuality (Norway) 86 % 85 % Customer satisfaction (index 0-100) 74 71 Bus Number of bus journeys (mill.) 77 77 Produced bus kilometres (mill.) 109 112 Customer satisfaction express bus (index 0-100) 77 78 Freight transport Number of transported TEU (1 000) 193 202 Net tonnkm. (mill.) 2 044 2 175 Punctuality 95 % 92 %
INTERN Positive financial development MNOK Per T2 2019 Per T2 2018 Operating revenue 11 234 10 502 Operating profit 709 609 Profit before income tax 626 494 Net cash flow from operations 1 913 1 474 ROE % 11,6 % 10,6 % Equity ratio (%) 28,8 % 28,9 % Net interest-bearing debt 4 304 4 388 * NIBD includes net pension liablity
INTERN Growth and improved profit for the Vy-Group MNOK T2 2019 T2 2018 Operating revenue 11 234 10 502 Payroll and related expenses 4 245 4 097 Depreciation and impairment 1 468 1 377 Other operating expenses 4 944 4 471 Total operating expenses 10 658 9 945 Share of profit/loss in joint ventures/associates 133 52 Operating profit 709 609 Net financial items -83 -115 Profit before income tax 626 494 Income tax expence -109 -89 Profit for the year 517 405
INTERN Balance sheet MNOK 31.08.2019 30.04.2019 31.12.2018 Total non-current assets 9 678 9 303 9 709 Total current assets 8 171 7 990 8 086 Total assets 17 849 17 293 17 795 Total equity 5 141 4 948 4 869 Total long term liabilities 8 281 7 902 8 478 Total short term liabilities 4 427 4 443 4 448 Total equity and liabilities 17 849 17 293 17 795 NIBD (inclusive net pension debt) 4 304 3 835 4 458
INTERN Vy passenger train operations Per T2 2019 Per T2 2018 No. of journeys by train (mill. in Norway) 46,9 45,5 Produced seat km. (mill. in Norway) 6 849 6 607 Operating revenue 6 355 5 725 Operating profit 630 502 Segment assets 6 310 6 854 Investments 229 355 No. of man years 3 223 3 147
INTERN Vy bus Per T2 2019 Per T2 2018 No. of journeys by bus (mill.) 77,4 77,0 Produced bus km. (mill.) 108,6 112,1 Operating revenue 4 215 4 077 Operating profit 136 200 Segment assets 5 924 5 352 Investments 1 499 485 No. of man years 5 491 5 395
INTERN Freight Per T2 2019 Per T2 2018 No. of transported TEUs Norway (1 000) 193 202 Net tonnekm. (mill.) 2 044 2 175 Operating revenue 677 669 Operating profit -16 -64 Segment assets 1 203 1 353 Investments 22 16 No. of man years 396 441
INTERN Important events • Traffic growth • Traffic growth with passenger trains and buses continues, and the number of journeys has increased by 2.9 and 5 per cent • Summer closures • Large parts of the train routes around Oslo were closed for the summer for 6 weeks, and at most 500 buses were used as an alternative • Impaired punctuality for passenger trains • Unstable infrastructure after the infrastructure works this summer has affected delivery and punctuality • Start of new bus offers, and growth for express buses • Vy bus has successfully launched several large tenders, including Trondheim, during the summer. There has been significant growth in demand for express bus services in Norway and Sweden. • Improved financial results for the freight segment • The freight segment shows better results, and in the second quarter increased demand has meant that it has been necessary to increase the capacity of popular routes and departures. • Re-profiling to new brand • Re-profiling of trains, buses and city cars for new brand Vy is underway, and uniforms and re-profiled buses and trains will be introduced continuously this fall • Tourism cooperation with Fjord 1 and positive development for Bybil • Vy and Fjord 1 have established a joint tourism company Vy Fjord 1 Reiseliv AS • Vy Bybil, the Vy offer of free flow electric city cars in Oslo, has 18 000 registered users, and an increase in active users
INTERN Financial calendar Board meeting: Report: 14.02.2020 Annual report 2019 27.05.2020 Interim report T1 2020 • The reports are published at Vy.no
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