Copenhagen, 2016-08-12 09:52 CEST (GLOBE NEWSWIRE) --
More traffic and improved results for the first half year 2016
Traffic across the Øresund Bridge increased in the first half year 2016. The
combination of reduced debt and low interest expenses has delivered a
result of DKK 441 million, which is an improvement of DKK 47 million
compared to the same period last year.
In the first half year 2016, traffic across the Øresund Bridge increased in
virtually all categories compared to the same period last year. The main
increase is in leisure traffic and the BroPas, which increased by almost 6 per
cent, well over 300 vehicles per day.
”We are very focused on leisure traffic in our marketing, promotions and
travel tips that we send out by email and via social media. In June, we additionally
launched an app which aims to improve our mobile reach. People
are using the bridge a great deal in their free time and this trend is continuing,”
says Caroline Ullman-Hammer, CEO, Øresundsbro Konsortiet.
Commuter traffic increased by 3.1 per cent for the period, which corresponds
to 182 commutes per day. Coach traffic increased by 15 per cent (18
passages per day).
”We already saw an increase in commuter traffic before the introduction of
border controls so in this respect they’re not having any significant effect.
The increase in car hire and coach traffic is, however, related to the controls
as employers want to make the journey across the bridge easier for their
employees,” says Caroline Ullman-Hammer.
Freight traffic performed well and increased by 4.3 per cent compared to
the same period last year.
Operating expenses saw a slight fall compared to the same period last year.
The operating result was a profit of DKK 598 million, which is an improvement
of DKK 35 million.
The interest-bearing net debt decreased by DKK 653 million during the first
half year to DKK 14 billion, which impacts the financial result. Combined
with the continuing low interest rates, this has resulted in a decrease in
Øresundsbro Konsortiet’s interest expenses of DKK 12 million to DKK 157
million.
Øresundsbro Konsortiet’s result before value adjustment was DKK 441 million,
which is an improvement of DKK 47 million.
Main items for the period (DKK million)
| Jan – June 2016 | Jan –June 2015 | Development | |
| Revenue, road | 619 | 581 | 38 |
| Revenue, railway | 248 | 247 | 1 |
| Other income | 12 | 9 | 3 |
| Total revenue | 879 | 837 | 42 |
| Operating expenses | -134 | -138 | 4 |
| Other operating expenses | -4 | - | -4 |
| Depreciation | -143 | -136 | -7 |
| Operating profit | 598 | 563 | 35 |
| Financial income and expenses | -157 | -169 | 12 |
| Profit before value adjustments | 441 | 394 | 47 |
| Value adjustment, fair value effect, net* | -506 | 176 | |
| Value adjustment, exchange rate effect, net* | 85 | -79 | |
| Profit for the period | 20 | 491 |
- The value adjustment is an accounting principle whereby financial assets and liabilities are determined at their market value on an ongoing basis. The value adjustment is disclosed under Financial income and expenses. The value adjustment has no effect on the company’s ability to repay its debt.
Traffic development for the period January-June
| Traffic per day 2016 | Traffic per day 2015 | Traffic development | Market share 2016** | Market share 2015** | |
| BroPas | 5,537 | 5,228 | 5.9% | ||
| Pendler (Commuter) | 6,074 | 5,892 | 3.1% | ||
| Business | 3,042 | 2,744 | 10.9% | ||
| Cash | 2,924 | 3,060 | -4.4% | ||
| Passenger cars, total* | 17,577 | 16,924 | 3.9% | 82.5% | 82.5% |
| Lorries | 1,271 | 1,218 | 4.3% | 53.2% | 53.4% |
| Coaches | 136 | 118 | 15.0% | 71.0% | 72.7% |
| Total | 18,984 | 18,260 | 4.0% | 79.7% | 79.7% |
* The category also includes passenger cars towing a trailer, vans and motorcycles.
** Applies to the period January-March .
Caroline Ullman-Hammer
Chief Executive Officer
Phone 45 3341 6000