Our interim report forecasts a deficit of approximately EUR 36 million
Our first interim report for the year forecasts a deficit of approximately EUR 36 million for the whole year. We estimate that the number of passengers travelling on public transport will be almost 50 percent lower compared to pre-pandemic levels.
Based on our first interim report for the year, we forecast a deficit of approximately EUR 36 million for the whole year. Last year, our results showed a deficit of more than EUR 70 million. Surplus accumulated from previous years will not be enough to cover the projected deficit.
The profit forecast for 2021 includes coronavirus subsidies granted by the Government in its seventh supplementary budget. Based on a decision made by the Finnish Transport and Communications Agency Traficom in May this year, HSL is granted EUR 69.3 million in coronavirus subsidies.
The profit forecast still includes a great deal of uncertainty. If our customers return to public transport at a slower rate than anticipated, or if travel decreases again, for example, due to new restrictions, the deficit may be considerably bigger than forecasted.
The profit forecast in the interim report is based on an estimate that the use of public transport and ticket revenue will gradually increase from the beginning of summer. The number of passengers for the whole year is estimated to be 211.2 million, in which case the number would be approximately 47 percent below normal.
Last year when the use of public transport was already severely impacted by the coronavirus pandemic, a total of 249.3 million journeys were made using services procured by HSL.
The interim report estimates that our operating income for the whole year, subsidies included, will be EUR 701.6 million. Ticket revenue for the whole year is estimated to amount to EUR 224.8 million, which is nearly 12 percent lower than budgeted. Last year, we collected EUR 243.3 million in ticket revenue.
We estimate that we will receive a total of EUR 79.6 million in subsidies and grants.
Operating expenses for the whole year are not expected to exceed EUR 719.9 million which would mean that the expenses would be EUR 4.7 million below the budget.
Our public transport operating costs are estimated to be EUR 2.5 million lower than budgeted. The main reason behind this are operating costs for tram services as cost savings of approximately EUR 1.2 million will be achieved by making changes in services during the summer and fall.