-2- Interim Financial Report, 1st quarter 2010 (1 January to 31 March 2010) 2 per cent more customers In the 1st quarter of 2010 DSB saw an increase of 2 per cent in the number of customers. The increase is owing to a strong customer and market focus in both S-tog and Long distance & Regional trains. In addition, the number of customers in Sweden rose by 3 per cent. DSB wins market share on Storebælt In the 1st quarter of 2010 the total market for journeys across Storebælt declined by 3 per cent compared to 2009. As a result of the increase in the number of customers crossing Storebælt of 1 per cent, DSB's market share increased by 2 percentage points to 30 per cent. DSB has thus strengthened its position in traffic across Storebælt in a declining market. Profit before depreciation and write-downs totalled DKK 479 million Profit before depreciation and write-downs totalled DKK 479 million (DKK 610 million) in the 1st quarter of 2010. The decline in profit is i.a. owing to increased operating expenses as a consequence of the severe winter weather and a continued effort regarding customer enhancement initiatives under the change programme, Point 2010. On the positive pared to 55.8 for all of 2009, while DSB S-tog, i.a. as a result of several new product initiatives, continues with a high score of 60.5 in the 1st quarter of 2010 (2009: 59.3). The winter weather affected the number of delays Compared to the very low level of delays in 2009 the number of S-train delays increased by 2.4 percentage points (from 4.0 to 6.4). In Long distance & Regional trains the number of delays increased by 4.1 percentage points from 7.4 to 11.5. The increased number of delays in 2010 is primarily owing to the severe winter weather in January and February. In March 2010, both S-tog and Long distance & Regional trains have seen fewer delays than the targets set in the transport contracts. DSBFirst has also been affected by the severe winter weather in January and February, whereas train services have been more stable in March. In April DSBFirst subsequently received a bonus for operator punctuality. With a view to ensure future stable operations, the Danish Minister of Transport has initiated a series of actions, including a new timetable and increased coordination between all involved parties. Continued increasing productivity Compared to the 1st quarter of 2009 DSB has seen an increase in productivity. The number of train journeys per employee increased by approximately 2 per cent and the number of train kilometres per employee by 4 per cent. DSB acquires 50 per cent of German train company In the beginning of March DSB acquired 50 per cent of the German operating company VIAS GmbH. The coownership will spearhead DSB' coming activities in Germany, and operating in Frankfurt am Main area, VIAS is located in a central and strategically important part of Germany with a view to DSB's coming biding activities in the German market. VIAS will be recognised in DSB's accounts from the middle of 2010 and therefore is not included in the present interim report. Icelandic volcano created problems in the air In the middle of April a volcanic eruption on Iceland caused disruptions in the airline traffic in Europe. As a consequence, DSB saw a significant increase in the number of customers. A major effort by DSB's employees ensured that services were carried out in a satisfactory way, and that the majority of the affected customers were helped towards their respective destinations. Expectations to profit before tax in 2010 maintained Profits before tax in 2010 are still expected to be in the region of DKK 450 million. side are efficiency enhancements in administrative functions and general savings. Moreover, the result for the 1st quarter 2009 was positively affected by non-recurring items. Profit before tax totalled DKK 22 million Pre-tax profits totalled DKK 22 million (DKK 105 million), which is in accordance with expectations. The negative economic effect of the severe winter is thus offset by the lower expenses in other areas. IC4 delivery continues to follow time schedule In May 2009, DSB entered into a legal and financial settlement with AnsaldoBreda S.p.A. concerning the delivery of the IC4 and IC2 train sets. At present, AnsaldoBreda has adhered to the settlement and the delivery plan and from April 2010, AnsaldoBreda will deliver three serial produced IC4 trains per month. With AnsaldoBreda's delivery of three IC4 train sets in April, DSB will thus have received a total of 20 IC4 train sets. The IC4 trains are part of the ordinary timetable with 17 daily departures. From January 2010, the IC4 are also part of the operation of the NonStop services between København and Århus. Status on reputation Following a severe and quite unusual winter weather and the consequential increased demand on train services, DSB's reputation in March 2010 (Reputation Institute's image survey) show a continued upward tendency with a score of 57.3. In the 1st quarter of 2010, DSB achieved a reputation score of 55.3, com-
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