Øresundsbron interim report, H1 2016

More traffic and improved results for the first half year 2016


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

GlobeNewswire

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