Nobina publishes preliminary earnings for second quarter of 2020/21
Nobina is today publishing its preliminary earnings for the second quarter of 2020/21 due to higher profit than market expectations.
Market expectations were exceeded due to the implementation of robust measures, swift adaptation and retroactive revenue from the first quarter of 2020/21.
Year-on-year, sales for the quarter are expected to grow 1.4 percent and adjusted earnings before tax is expected to rise by SEK 46 million. Sales for the quarter are forecast at SEK 2,564 million, and adjusted EBT* at SEK 153 million.
The earnings improvement is largely the result of retroactive revenue (SEK 27 million) following the completion of contract negotiations, in which the company reached agreement with the majority of its PTA’s on how the effects of the pandemic would be managed. In addition, Samtrans Omsorgsresor implemented major changes to its activities to meet demand in society for mobile testing stations for covid-19. These factors, together with the rapid changes implemented by the company in terms of cost control and efficiency, have contributed to the overall improvement in profit. Lastly, earnings are also boosted by the positive impact of contract migration in Norway and Finland.
All figures presented in this press release are preliminary and unaudited. The final report for the second quarter of 2020 will be published at 8:00 a.m. CEST on 30 September 2020. Nobina will not provide any additional comments until after the publication of its interim report for the second quarter.
*Adjusted for income, costs and amortisations related to acquisition accounting effectsThis information is such that Nobina AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation No 596/2014. The information was published, through the agency of the contact persons mentioned below, at 3:10 p.m. CEST on 16 September 2020.
For further information, please contact:
Mattias Gelinder, Head of Treasury & IR, +46 72 967 02 61
Pernilla Walfridsson, CFO, +46 72 967 04 04
Nobina is the largest and most experienced public 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 the industry leader in terms of profitability, development and initiatives that promote a healthier industry. Every day, Nobina ensures that close to 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 special public transport services under the brand Samtrans in the Swedish market. The company has sales of close to SEK 11 billion (2019/20), 11,700 employees and is headquartered in Solna, Stockholm. For more information, see Nobina’s website: www.nobina.com.