Yet another good year

May 16 2017
Flytoget delivers yet another good result in 2016, with a turnover of NOK 923 million and a pre-tax profit of NOK 170 million.

In many ways 2016 has marked the beginning of a new era for the Norwegian railway sector as well as for Flytoget. Railways are receiving significant investment, and Flytoget appreciates the many new and exciting possibilities that this creates. Flytoget's competitive situation has changed in recent years, which in 2016 has resulted in a slight drop in passenger numbers. Despite a tougher competitive situation, Flytoget is in a robust position, and it is wonderful to establish that our key performance scores, such as punctuality and customer satisfaction, remain high.

Results

Flytoget's turnover for 2016 was NOK 923 million, while profit before tax was NOK 170 million. The drop in operating income compared to last year was caused by a 2.2 per cent fall in passenger numbers compared to 2015.

In general terms, the lower passenger loadings can be explained by increased competition in the market. Due to reduced activity levels in Norwegian trade and industry we have seen a drop in travel activities, particularly in Flytoget's core market, and this has also impacted on passenger numbers. In the past year Flytoget has spent time as an organisation on developing the company's service provision further, thus preparing the ground for new initiatives and investments in the years ahead. Flytoget has adopted an assertive strategy and continues to prioritise initiatives that set Flytoget apart from its competitors.

Despite tougher competition and reasonably stringent framework conditions, Flytoget has had yet another good year and it is a pleasure to establish that our customer satisfaction and punctuality rates remain stable at 97 and 96 per cent respectively. The level of absence due to illness is low and stable.

2016 in brief

  • 6.5 million passengers
  • 218 daily departures
  • Turnover of NOK 923 million
  • Profit before tax of NOK 170 million
  • Since 1998, Flytoget has paid out a total of NOK 1,342 million in dividend to the Norwegian state.
  • 366 employees
  • 16 train sets
  • Punctuality rate of 96%
  • Regularity rate of 99%
  • Flytoget has contributed to the 70 per cent public transport share to Oslo Airport that was achieved in 2016.
  • Flytoget saved society 33,916 tonnes of CO2 emissions in 2016, that would have been discharged had our 6.5 million passengers travelled to Oslo Airport by car.