VR’s Passenger Services Continued Strong rowth in first months of year

16.06.2008 (10:55)

VR’s passenger services have continued to grow strongly in the first months of the year, with growth of 6.1%.

VR Group recorded a net profit in January-April 2008 of M€ 6.3, compared with M€ 2.4 in the corresponding period of the previous year.

VR Group’s net turnover in the first four months of the year totalled M€ 463.0 (M€ 402.3). The operating profit was M€ 7.3 (M€ 1.9).

Altogether 8.0% more journeys were made during the review period in long-distance rail services and 5.7% in commuter services in the Greater Helsinki area than in the previous year. The number of journeys in commuter services in the YTV area increased 4.8% and outside this area in VR’s zone services by 8.9%.

The total number of journeys made by rail in the first four months of the year was 23.2 million. Net turnover for passenger services increased 11.8% to M€ 133.6. The punctuality of services remained good.

Domestic freight carryings by rail declined 2.4%. Carryings in the largest product group, the forest industry, decreased 4.9%. The increase in metal and mechanical engineering and chemical industry carryings was not able to compensate for the fall in the volumes of forest industry carryings.

VR’s carryings to and from Russia increased 16.5% in the January-April period. This sharp growth was because volumes had fallen significantly in the previous year. Chemical industry carryings, comprising mainly petroleum products, now became the largest product group in this traffic, increasing 31.4%. Imports of round timber increased by 3.0%, despite the rise in export duties on round timber at the beginning of April.

Altogether 14.4 million tonnes of freight were transported by rail, an increase of 3.2%. The net turnover of freight services rose 7.2% to M€ 124.8.

Capital expenditure amounted to M€ 36.6 (M€ 26.9) during the review period. No decisions were made on major new investments, and expenditure was mainly on normal replacement and renovation of rolling stock. The largest item in expenditure on property was the completion of the maintenance shed for long-distance trains at Ilmala, Helsinki.