Interim Report Q2 2016

DSB realised a loss before tax of DKK 447 million for the first half year after impairment write-downs of the IC2 fleet and five IC4 train sets. The first six months have been char-acterised by unsatisfactory punctuality. Initiatives have been taken to restore punctuality, and DSB's Board of Directors has approved the acquisition of new electric locomotives


Copenhagen, 2016-08-23 11:27 CEST (GLOBE NEWSWIRE) --

  • Customer punctuality for Long-distance & Regional trains at 72.7 percent was significantly below the target of 81.8 percent. Initiatives have been taken to restore punctuality for Long-distance & Regional trains in the short and the long term.
  • The operator punctuality for Long-distance & Regional trains – adjusted for matters outside the control of DSB – at 91.9 percent was also below the target of the transport contract at 93.8 percent
  • Customer punctuality and operator punctuality for S-trains were both above target at 94.1 and 98.8 percent, respectively.
  • DSB’s Board of Directors has approved the acquisition of 26 new electric locomotives, see separate press release
  • IC2 train sets do not meet the required stability. With the planned investments in rolling stock – at the initial stage 26 new electric locomotives – the dependence on IC4 and IC2 will be reduced. All 23 IC2 train sets are now phased out and a full write-down of the 23 train sets as well as five IC4 train sets will now be carried out
  • Adjusted for non-recurring items – including a write-down of rolling stock at a total value of DKK 673 million – the adjusted results before tax amount to DKK 195 million against DKK 386 million for the first half of 2015. Development in profit is negatively affected by the effect of “supplementary agreement 1“, which leads to a reduction of contractual payment
  • Interest-bearing liabilities have been reduced by DKK 575 million during the first half year
  • Continued growth in number of customers on sections without track works, border control and ID-verification
  • A survey from “Passagerpulsen” (the consumer watchdog: The Passenger Pulse) in June showed that more than eight out of ten customers are satisfied with the train journey

         In case of further questions, please contact DSB Communication + 45 24680000.


Attachments

Interim report 2Q 2016.pdf