NOBINA EUROPE AB – RESULTS 2012/2013
FOURTH QUARTER (DECEMBER 1, 2012 – FEBRUARY 28, 2013)
- Sales amounted to SEK 1,802 million (1,763), an increase of 2.2% or SEK 39 million.
- Operating profit of SEK -51 million (-147), an increase of SEK 96 million.
- Earnings for the quarter after tax of SEK -51 million (-147). Earnings per share of SEK -324.6 (-693.8).
- Cash flow from the operations was SEK 107 million (-119). Cash flow after net investments and financing activities amounted to SEK 45 million (141).
- Cash-financed investments amounted to SEK 3 million (6).
- During the quarter, the Group signed intra-group leasing agreements amounting to SEK 27 million (406) in acquisition value.
FULL YEAR (MARCH 1, 2012 – FEBRUARY 28, 2013)
- Sales amounted to SEK 7,263 (7,079), an increase of 2.5% or SEK 184 million.
- Operating profit of SEK -2 million (-124), an increase of SEK 122 million.
- Earnings after tax were SEK 129 million (-131), inclusive of SEK 100 million (0) reporting of tax deductibles. Earnings per share of SEK 807.8 (-818.8).
- Cash flow from the operations was SEK 234 million (50). Cash flow after net investments and financing activities amounted to SEK 54 million (-87).
- Cash-financed investments amounted to SEK 40 million (29).
- During the financial year, the Group signed intra-group leasing agreements amounting to SEK 1,129 million (745) in acquisition value
SIGNIFICANT EVENTS DURING THE QUARTER
- Nobina Europe listed its corporate bond on NASDAQ OMX on December 21.
SIGNIFICANT EVENTS SINCE THE END OF THE QUARTER
- Nobina Europe won a tender for traffic in Malmö city covering approximately 100 routed buses, and consequently Nobina Europe will be responsible for the entire urban bus traffic in Malmö as from June 2014. The agreement is for three years, with three option years, and is expected to be worth around SEK 2.5 billion over the term of the agreement.
- Nobina Europe has won a tender for 31 buses in Helsinki. The result of the tender means that Nobina Europe will be the largest operator in Helsinki.
The 2012/2013 financial year was a strong one for Nobina Europe. We reported our best operating profit (EBIT) to date, namely SEK -2 million (-124), despite the fact that we currently also have the youngest contract portfolio and bus fleet ever, both of which factors have a negative impact on earning capacity in the short term. The Group's revenues increased by 2.5%, to SEK 7,263 million; this was primarily due to the growth in existing contracts attributable to increased travel on all markets. This is a sign that contracts with incentive elements have come to dominate, which provides us with greater opportunities to influence our own revenues. In other words, we are well positioned for the future.
It is primarily the Swedish regional traffic operations which are continuing to develop well. It is also pleasing that the Finnish operations reported a very strong year. On the minus side, there is the problematic Tromsö contract in Nobina Norway's operations.
Ragnar Norbäck, CEO
For further information please contact:
Ragnar Norbäck, President and CEO
+46 8-410 65 000
Per Skärgård, CFO
+46 8-410 65 056
Ingrid Håkanson, IR Manager
+46 8-410 65 051
The Nobina Europe group is the largest company in the Nordic region within the area of public transport by bus. The operations include contractual regional traffic in Sweden, Norway, Finland and Denmark as well as inter-regional traffic through the subsidiary Swebus. The Nobina Europe Group has revenues in excess of SEK 7 billion, operates 3,500 buses and, with approximately 260 million passenger journeys per year, is one of the larger passenger transport companies in northern Europe. More information is available on www.nobina.com