Nobina year-end report March 2016 - February 2017

Improved earnings and cash flows


  • Net sales of SEK 2,243 million (2,161), an increase of 3.8 per cent.
  • Operating profit of SEK 63 million (58).
  • Profit after tax of SEK 267 million (8), and earnings per share of SEK 3.02 (0.09). Adjusted for valuation of historical losses carried forward the result is SEK 22 million and the earnings per share is SEK 0,25.
  • The cash flow from the operations was SEK 336 million (389).


  • Net sales of SEK 8,858 million (8,317), an increase of 6.5 per cent.
  • Operating profit increased to SEK 494 million (462)1).
  • Profit after tax of SEK 518 million (4), and earnings per share of SEK 5.86 (0.04). Adjusted for valuation of historical losses carried forward the result is SEK 273 million and the earnings per share is SEK 3,09.
  • The cash flow from the operations was SEK 1,234 million (850).
  • Cash flow for the year of SEK 114 million (234). Cash flow for the year includes payment of preceding year’s dividend of SEK 230 million (0).


  • Magnus Rosén was appointed as the new President and CEO of Nobina. Magnus joined Nobina on 1 April and will take up the position of CEO on 1 June.
  • In December 2016, Nobina won contracts for a further 27 buses in Helsinki.
  • Nobina has been invited to carry out a two-year test programme involving electric-powered articulated buses, on behalf of the PTA Ruter in Oslo.
  • Nobina signed contracts with Tågkompaniet regarding bus-for-rail ­services in six counties in northern and central Sweden and has also expanded the bus-for-rail service contract with MTR to include their metro traffic.


  • Board of Directors have proposed a dividend of SEK 3.10 (2.60) per share to be paid in June, 2017, an increase of 19 per cent compared to last year.

CEO’s comments

We are continuing to deliver in accordance with our promises and present new record levels in terms of sales and profitability for the full year 2016/2017. Net sales increased by 6.5 per cent, the pre-tax margin was 4.0 per cent and I am able to note that, in each individual quarter during the year, we outperformed the corresponding quarter of last year. This inspires confidence that we will deliver the objectives that were established prior to the IPO. In addition to continued successful, active contract management, a higher share of bus-for-rail traffic and positive indexation effects contributed to growth in 2016/2017. This compensated for costs attributable to traffic starts and higher quality requirements in certain contracts. At the same time, the increasing focus that PTAs are placing on quality in tenders is a factor that benefits us in the long term since our work is highly quality-focused.

Our bus-for-rail services are expanding throughout the Nordic region. During the fourth quarter, we signed contracts for bus-for-rail services with Tågkompaniet in Sweden, and we now have bus-for-rail contracts in all Nordic countries. This offering is capable of continued expansion going forward, although it is difficult to assess the size of the offering since unscheduled bus-for-rail services represent a large element in the contracts.

Nobina remains at the forefront of vehicle development. We were the first company with superbuses and we have operated electric buses in Sweden since 2006. During the fourth quarter, we announced a test programme involving electric-powered articulated buses on behalf of the PTA Ruter in Oslo, and discussions are underway regarding several pioneering investments in new electric-powered bus systems in other major cities in the Nordic region.

Thanks to higher sales combined with a stronger margin, we are able to increase the dividend. The board of directors has proposed to the annual general meeting a dividend for 2016/2017 of SEK 3.10 per share, which is 19 per cent higher than last year and in line with our communicated dividend policy.

Finally, I would like to take the opportunity to thank all employees for their strong involvement in Nobina’s development, which during the business year has resulted in record-high passenger satisfaction in many of Nobina’s traffic areas.

Ragnar Norbäck,
President and CEO

The information comprises such as Nobina AB (publ) is obliged to publicly disclose pursuant to the EU Market Abuse Regulation and the Securities Market Act. Through the above contact person, the information was submitted for publication at 8.00am CET on 6 April 2017.

For more information, please contact:
Mattias Gelinder, Head of Treasury & IR, tel: +46 729-670 261, e-mail:         
Per Skärgård, CFO, tel: +46 8 410 650 56, e-mail: 

About Nobina
Nobina is the largest and most experienced public bus transport service provider in the Nordic region. The Company’s expertise in prospecting, tendering and active management of public bus transport contracts in combination with long-term delivery quality makes Nobina an industry leader in terms of profitability, development and initiatives that promote a healthier industry. Every day, Nobina ensures that more than one million people arrive at work, school or other activities by delivering contracted public bus transport services in Sweden, Norway, Finland and Denmark. In addition, Nobina offers express bus services under the Swebus brand in the Swedish market. The Company has sales of almost SEK 9 billion (2016/17), approximately 9,000 employees, and is headquartered in Solna, Stockholm. For more information, see Nobina’s website:


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