HSL’s economy hit hard by high gasoline prices and low passenger numbers in early 2022
A slow recovery in passenger numbers and the surge in gasoline prices put a strain on our economy during January–April 2022. The challenging economic situation is predicted to last the whole year.
The use of public transport has increased gradually since March, resulting in a slightly higher amount of ticket revenue than expected.
According to estimate, 298 million journeys will be made on the public transport services we procure this year, which is approximately 25 percent less compared to the pre-pandemic figure from 2019.
Ticket revenue is estimated to be around 20 percent below the 2019 level.
For HSL, the soaring diesel prices used in bus traffic have resulted in acquisition costs that have surpassed estimates. The increase in prices can be seen in the payments we make to transport operators with a delay of approximately one month. In addition, increased electricity prices also bring about increased costs.
Our main source of income are the municipal contributions of HSL’s member municipalities that the municipalities pay on the basis of their tax revenue. According to this year’s budget, the amount of municipal contributions will be EUR 435.8 million.
This year, state aid will continue to be a significant factor for us when balancing our budget. The share of the support for public transport in the second supplementary budget proposal for 2022 that will be allocated to HSL is not yet known.
“The state's corona subsidies are used to compensate for the costs incurred due to the loss in ticket revenue caused by reduced passenger numbers. We are satisfied with the fact the support for public transport will be increased in the second supplementary budget for the year, even though the amount is less than we hoped. We do not yet know the amount of support that HSL will receive of the EUR 48 million allocated to public transport”, says CEO Mika Nykänen.