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NOBINA AB – INTERIM REPORT

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THIRD QUARTER (SEPTEMBER 1 – NOVEMBER 30, 2011)

      • Sales amounted to SEK 1,750 million (1,715), an increase of 2 percent or SEK 35 million.
      • Operating profit of SEK 60 million (101), a decrease of SEK 41 million.
      • Earnings for the period amounted to SEK -12 million (52). Earnings per share of SEK -0.46 (2.08), primarily affected by an unrealized exchange rate loss on the Senior Note.
      • Cash flow from the operations amounted to SEK 247 million (265). Cash flow after net investments amounted to SEK 169 million (227).
      • The Group's investments, primarily relating to the purchase of buses, amounted to SEK 117 million (99), of which investments of SEK 79 million (70) were financed through leasing agreements and SEK 38 million (29) were financed in cash.

      FIRST NINE MONTHS OF THE YEAR (MARCH 1 – NOVEMBER 30, 2011)

      • Sales amounted to SEK 5,303 million (5,026), an increase of 5.5 percent or SEK 277 million.
      • Operating profit of SEK 187 million (239), a decrease of SEK 52 million.
      • Earnings for the period amounted to SEK -42 million (98). Earnings per share of SEK -1.67 (3.94), primarily affected by an unrealized exchange rate loss on the Senior Note.
      • Cash flow from the operations amounted to SEK 472 million (489). Cash flow after net investments amounted to SEK 460 million (409).
      • The Group's investments, primarily relating to the purchase of buses, amounted to SEK 416 million (537), of which investments of SEK 339 million (467) were financed through leasing agreements and SEK 77 million (70) were financed in cash.

      SIGNIFICANT EVENTS DURING THE QUARTER

      • Nobina Sverige won the contract for regional bus traffic services in Uppland, comprising 163 buses. The value of the new agreement is calculated at slightly more than SEK 5 billion over the entire term of the agreement, or approximately SEK 490 million per year. The traffic services agreement is a combination of a fixed-price and incentives, and has a term of 10 years commencing in June 2012.
      • Nobina is investing over SEK 500 million in new biogas buses for regional traffic services. The new buses are to be placed into operations in Skåne and Uppland starting with the summer of 2012.

      SIGNIFICANT EVENTS SINCE THE END OF THE QUARTER

      • Nobina's 100th anniversary celebration concluded with a full-day conference in Stockholm with 150 participants from the industry. The theme of the day was "How can public transport be adapted to our future lifestyles?".
      • A new company has been formed on behalf of the entire industry with the working name "Fördubbling AB" (ENG: Doubling AB) to create a national forum for cooperation for the purpose of increasing sustainable innovation in the industry. Nobina is represented on the board of directors.
      • Nobina Finland won the contract for traffic services with 107 buses in the Helsinki area, which is an increase of own traffic by 11 buses.

      CEO's comments

      During the third quarter, Nobina won several interesting contracts, including the contract for Uppland’s local traffic services, and our assessment is that over the business year as a whole, we are gaining market shares. At the same time, we report weaker profitability than last year as a result of lower volumes within Swebus, efficiency challenges in Norway, and comprehensive restructuring of the contract portfolio. Otherwise, the quarter was characterized by continued consolidation on the market and preparations in the face of the deregulation of the bus market in Sweden after the new year, in which Nobina intends to take an active role.

      The fourth quarter commenced with an inspiring and forward-looking 100th anniversary celebration in Stockholm with over 100 industry participants. The conclusion of the fourth quarter – and thus the year as a whole – is highly dependent on the weather in the Nordic region. As a result, we look forward to a snow-free Christmas and to placing 150 new biogas buses into operation in Skåne and Uppland during next year.

      Ragnar Norbäck, CEO

      Contacts

      For further information please contact:

      Ragnar Norbäck, President and CEO, +46 8-410 65 058
      Per Skärgård, CFO, +46 8-410 65 056
      Ingrid Håkanson, IR manager, +46 8-410 65 051

      The Nobina group is the largest company in the Nordic region within the area of public transport by bus. The operations include contractual regional traffic services in Sweden, Denmark, Norway and Finland as well as interregional traffic services through the subsidiary Swebus. With more than SEK 6 billion in sales, 3,500 buses, and approximately 260 million passengers per year, Nobina is one of the largest passenger transport companies in northern Europe. For more information, please visit www.nobina.com

      Tags:

      Bus Public Transport Nobina

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