September 20, 2013

SBB reports 27.8% drop in first half profits

Written by  Anitra Green
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SBB reports 27.8% drop in first half profits David Gubler

SWISS Federal Railways (SBB) recorded a 27.8% drop in year-on-year profit to SFr 100.8m ($US 108.4m) in the first half of 2013 despite reporting revenues of SFr 4.05bn, a 2% increase. SBB says the fall was mainly due to an increase of SFr 97m in train path prices, and higher expenditure - SFr 70m - on maintenance activities.

Profits in the passenger sector were down by 56% to SFr 64.9m despite improved performance; passenger-km figures were up by 1.9% to 8.7 billion km, largely due to expansion of services in the west half of the country.

SBB Cargo returned a small profit of SFr 2.6m for the first time for a number of years, thanks to latest round of restructuring measures introduced in 2011. This compares to a loss of CHF 22 million a year ago. Performance rose to just over 6 billion net tonne-km, an increase of 5%. SBB Cargo International also reported a 1.8% increase to around 14,000 trains in transit traffic across Switzerland.

The infrastructure sector closed the first half with a loss of SFr 70.7m compared with a profit of SFr 8.1m in 2012 due to work to replace track on heavily-used lines and the purchase of a new ultrasonic measuring vehicle.

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