NSB Group Interim report T1 2016
Growth in the passenger train segment T1 2016 T1 2015 Passenger train Number of train journeys - Norway (mill.) 23,1 22,3 Produced seat kilometres - Norway (mill.) 3 386 3 272 Punctuality (Norway) 89,6 % 90,7 % Customer satisfaction (index 0-100) 74 73 Bus Number of bus journeys (mill.) 41 38 Produced bus kilometres (mill.) 57 58 Customer satisfaction express bus (index 0-100) 80 81 Freight transport Number of transported TEU (1 000) 122 124 Punctuality 91,8 % 90,0 %
Key figures MNOK T1 2016 T1 2015 Operating revenue 4 995 4 935 Operating profit 618 690 Profit before income tax 638 598 Net cash flow from operations 831 1 196 ROE % 22,7 % 22,1 % Equity ratio (%) 36,2 % 30,1 % Net interest-bearing debt 7 238 6 670 No. of man years (12 month average) 10 423 10 792
Income statement MNOK T1 2016 T1 2015 Operating revenue 4 995 4 935 Payroll and related expenses 2 423 2 241 Depreciation and impairment 486 501 Other operating expenses 1 607 1 575 Total operating expenses 4 516 4 317 Share of profit/loss in joint ventures/associates 12 9 Unrealised value change investment property 127 63 Operating profit 618 690 Net financial items 20-92 Profit before income tax 638 598 Income tax expence -124-121 Profit for the year 514 477
Financial position MNOK 31. Apr. 16 31. Apr. 15 31. Dec. 15 Property, plant and equipment 14 654 14 332 14 499 Investment property 4 830 4 526 4 622 Other non-current assets 460 365 433 Total non-current assets 19 944 19 223 19 554 Cash, bank deposits and financial assets 1 467 4 052 1 950 Other current assets 7 183 6 129 7 332 Total current assets 8 650 10 181 9 282 Total assets 28 594 29 404 28 836 Ordinary shares and share premium 5 144 5 144 5 144 Restricted equity - revalued investment property 2 361 1 796 2 244 Retained earnings 2 826 1 924 2 447 Non-controlling interest 7-2 3 Total equity 10 338 8 862 9 838 Borrowings 10 007 9 759 10 387 Deferred income tax liabilities 1 368 842 1 139 Retirement benefit obligations 2 297 2 536 2 345 Provisions for other liabilities and charges 86 107 104 Total long term liabilities 13 758 13 244 13 975 Total short term liabilities 4 498 7 298 5 023 Total equity and liabilities 28 594 29 404 28 836
Increased revenue for the passenger train and bus segments Beløp i MNOK
Improved EBIT in the bus and freight segments
High return Owners target is 6,7 % of value adjusted equity
Equity and borrowings
Cash flow in MNOK
Passenger train MNOK T1 2016 T1 2015 No. of journeys by train in Norway (mill.) 23,1 22,3 Produced seat km. (mill. in Norway) 3 386 3 272 Operating revenue 2 457 2 381 Operating profit 258 292 Segment assets 12 363 14 008 Investments 457 329 No. of man years (12 month average) 3 692 3 655 Beløp i MNOK
Freight MNOK T1 2016 T1 2015 No. of transported TEUs Norway (1 000) 122,5 124,1 Operating revenue 327 347 Operating profit 7-5 Segment assets 993 801 Investments 2 1 No. of man years (12 month average) 433 460 Beløp i MNOK
Real estate MNOK T1 2016 T1 2015 Operating revenue 266,0 383,0 Operating profit 275 344 Segment assets 9 675 8 287 Investments 161 293 No. of man years (12 month average) 91 91 A major part of the activities in the real estate operations take place in associated companies. The no. of man years applies to the parent company ROM Eiendom AS Beløp i MNOK
Bus MNOK T1 2016 T1 2015 No. of journeys by bus (mill.) 41 38 Produced bus km. (mill.) 57 58 Operating revenue 1 927 1 822 Operating profit 70 29 Segment assets 4 205 4 095 Investments 84 42 No. of man years (12 month average) 5 103 5 473 Beløp i MNOK
Train maintenance MNOK T1 2016 T1 2015 Operating revenue 470,0 469,0 Operating profit 8 32 Segment assets 860 723 Investments 13 8 No. of man years (12 month average) 1 105 1 113 Beløp i MNOK
Important events NSB Group The parliament has approved the governments plan for extensive changes to the railway sector in Norway The Ministry of Transport has announced the tenders for the two first traffic packages, and NSB will work to win both the announced tenders Passenger train The delivery of new train sets continues, and 75 are operational as of April The number of journeys has increased by 5,5 % the last 12 months Customer satisfaction increased by 1 point to 73 Bus Restructuring has given good effects The Nettbuss airport bus in Trondheim offers up to 80 000 departures a year to and from Værnes airport Freight Restructuring has given good effects CargoNet has moved and established itself in refurbished premises in one of the workshop buildings on the railway property in Lodalen Real estate ROM Eiendom has entered into an agreement with KLP Eiendom regarding the sale of the new building of 14 900 m2 which is currently under construction in Zander Kaas gate by Bergen station
Financial calendar Board meeting: Results: 01.06.2016 Interim report April 2016 28.09.2016 Interim report August 2016 The interim report is available at nsbkonsernet.no