-2- Interim Financial Report 1st to 3rd quarter 2010 (1 January to 30 September 2010) Trains on time The strategic focus on more punctual trains has proved successful. Thus, in Long distance & Regional trains, the number of delays fell by 40 per cent compared to the 3rd quarter of 2009, while the number of delays in S-tog in the same period is slightly above the historically good results in 2009. During the entire 3rd quarter of 2010, both S-tog and Long distance & Regional trains have seen fewer delays than the targets set in the traffic contracts. Thus the positive development from the 2nd quarter of 2010 continues. The results are a consequence of a focussed effort to im-prove punctuality. The effort has resulted in more trains on time, but is also seen in the development of costs. Thus, in 2010, DSB spends in the region of DKK 200 million in extraordinary punctuality and customer improving initiatives, including activities through the change programme Point 2010. 146 million customers In the first 9 months of 2010 DSB had 146 million custom-ers. The number of customers in the Danish market in-creased by 4 per cent (adjusted for temporary track closures). The increase is the result of an aggressive strategy in Denmark, where improved punctuality in combination with increased focus on price and distribution and several cus-tomer initiatives have resulted in more customers. In the first 9 months of 2010 the number of customers in Sweden increased by 3 per cent. Maintenance activities concentrated in a new company In order to focus on the core product and improve competi-tiveness, DSB and DSB S-tog spin off the maintenance activi-ties and consolidate them in an independent company. Thus, still more focus is put on these activities, which are of para-mount importance to the punctuality of the trains. The company starts operations on 1 January 2011. DSB expands in Sweden DSB won the tender for the regional train services Upptåget in the Uppsala area north of Stockholm. The decision comes shortly before DSB starts operation in December 2010 of Västtrafik in Gothenburg and Krösatåg in the Jönköping area. DSB won the two contracts respectively in August and in December last year. DSB already runs two other operations in Sweden, i.e. the Roslagsbanan in Stockholm and the Øresund services in Southern Sweden. With the new lines, DSB further expands its position in Sweden, our second home market, and thus prepares for new tenders in the coming years. Profit before tax totalled DKK 238 million The DSB Group's pre-tax profits totalled DKK 238 million (DKK 385 million) in the first 9 months of 2010, which is in accordance with the expected, cf. the financial review on page 4. IC4 delivery In September 2010 DSB entered into an agreement with AnsaldoBreda, which means that DSB will be upgrading the 14 IC4 trains, which so far have been operating on the Dan-ish tracks. According to the agreement DSB will have more IC4 train sets at its disposal during a period than originally planned. The IC4 trains will enter into the ordinary timetable with 98 weekly departures. In November DSB received type approval of an upgrading of the IC4 trains, which i.a. means that DSB in future will be able to operate with two coupled IC4 trains in national traffic, i.e. with twice as many custom-ers at a time. Track works on the Hillerød line completed As planned extensive track works were completed on 27 September on the S-train network's Hillerød line. During the track works S-tog saw a decrease in the number of passen-gers, which entailed a fall in passenger revenues. At the same time, the increased customer focus during the track works, including replacement bus services, has led to a substantially higher cost. DSBFirst/Kystbanen DSBFirst's Danish operator punctuality is 97.9 per cent in the 3rd quarter of 2010. This is a positive development. The same applies to the customer experienced punctuality, which improved significantly following the introduction of the new timetable in August. As a result of the particular focus on customer punctuality, a customer punctuality of 90 per cent was achieved in October. The Swedish operator punctuality is approximately 99.9 per cent. Redundancies in the administration In the past three years DSB has launched a series of initia-tives through the change programme Point 2010 with a view to maintain and improve the quality of our products. To continue this development, it is necessary on an ongoing basis to adapt and make the organisation more efficient. Consequently, 140 administrative staff will be made redun-dant and the redundancies will take place in December 2010. Expectations to pre tax profit in 2010 Profits before tax and before expenses concerning the re-dundancies for 140 administrative staff are still expected to be in the region of DKK 450 million. Expenses to redundan-cies are expected to amount to approximately DKK 150 million in the 4th quarter of 2010, and subsequently profits before tax are expected to be in the order of DKK 300 million.
Download PDF fil