Continued third quarter leisure traffic growth

Continued third quarter leisure traffic growth

Traffic on the Øresund Bridge is in line with the same period last year. Leisure and business traffic continues to grow, while commuter traffic has declined.

Road traffic is 0.2 percent below the same period last year. There has been continued growth in leisure traffic, which has increased by 3.3 per cent, equivalent to 217 vehicles per day, and business traffic, which has increased by 4.2 per cent, corresponding to 192 vehicles per day. Overall freight traffic grew by 2.7 per cent.

A decline is seen in commuter traffic, which has decreased by 5.0 per cent.

Revenue has increased by DKK 21 million, while operating expenses have decreased by DKK 5 million. Profits before interests totals DKK 1,137 million, an improvement of DKK 25 million.

Interest expenses amounted to DKK 180 million for the first three quarters. This is DKK 79 million compared to the same period 2017. The falling interest expenses are primarily attributable to the low inflation in the period.

The result before interest was DKK 957 million, an improvement of DKK 104 million compared to the same period last year.

- Due to the warm summer the traffic has not been able to match last year's level, but we continue to see more leisure travelers. We are also seeing an increase in freight traffic and continue to be the market leader across Øresund. We consider the decline in commuter traffic to be temporary, based on the good labor market in Copenhagen, says Caroline Ullman-Hammer, CEO, Øresundsbro Konsortiet.

On 19 September 2018, the General Court reached a decision in the case brought by HH Ferries against the EU Commission for annulment of the EU Commission's decision on illegal state aid for the Øresund link (case T-68/15).

The General Court found in the decision that the Commission committed a number of procedural errors, as it should have initiated a so-called "formal investigation procedure" in the case. The General Court therefore annuls the EU Commission's decision. It should be emphasized that the General Court has not overruled the state guarantee model as such.

The decision also states that guarantees to the Consortium's owners (A/S Øresund and SVEDAB AB) do not constitute illegal state aid.

Main items for the period (DKK million)

* The value adjustment is an accounting principle whereby financial assets and liabilities are determined at their market value. The value adjustment is disclosed under Financial Income and Expenses. The value adjustment has no effect on the company’s ability to repay its debt.

Traffic trends for the period January – September

* The category also comprises passenger cars with a trailer as well as vans and motorcycles.