HSL’s financial statements 2015: Reduced fuel costs produced a surplus

In 2015, public transport ridership increased slightly more than expected and public transport customer satisfaction hit a record high.

The total ridership on Helsinki region public transport was up by 1.5 per cent from the previous year (358.6 million journeys). HSL had forecast a one per cent increase in the ridership. The most significant increase was seen on commuter train services (+8.9%) following the opening of the Ring Rail Line. There was a slight decrease in tram ridership (-0.5%) due to increased walking and cycling and changes caused by track works. On the Metro services, the drop seen in the previous was reversed and ridership was up by 1.2 per cent. No significant changes were seen in bus ridership.

“HSL has benefited from the falling price of crude oil. By contrast, the increased infrastructure costs incurred by the Ring Rail Line and West Metro add pressure to increase fares. Major investments in public transport infrastructure are necessary due to the annual population growth of over one per cent in the region,” says HSL Executive Director Suvi Rihtniemi.

“The success of the Ring Rail Line during the first six months of operation is a positive signal. Transferring more journeys to rail increases public transport demand. The decrease in tram ridership reflects the increasing popularity of walking and cycling in downtown Helsinki," says Rihtniemi.

For 2016 and the coming years, HSL anticipates a one per cent increase in public transport ridership. The forecasts for the coming years will be refined in the financial and operational plan for 2017-2019 scheduled for approval by the Executive Board next autumn.

HSL’s record high customer satisfaction continued to improve. In total 89 per cent of passengers were satisfied with the Helsinki region public transport services (2013: 87.5%, 2014: 88%). HSL measures customer satisfaction through a survey completed by some 50,000 passengers on different modes of transport. Customer satisfaction with HSL’s services is very high also in international comparison.

A strong result in 2015

HSL’s delivered a strong financial result in 2015. HSL's profit for the financial year after financial items and depreciations was EUR 21.1 million while the budget provided for a loss of EUR 8.3 million. At EUR 307.0 million, HSL’s ticket revenue was up by 2.9 per cent from the previous year. Ticket prices were increased by an average 3.8 per cent at the beginning of the year.

HSL's operating income increased by 1.3 per cent to EUR 622.9 million. Ticket revenue accounted for 49.3 per cent and municipal contributions for 48.0 per cent of the total. Other operating income, EUR 16.9 million, mainly consisted of government subsidies, ticket inspection revenue, income from Travel Card equipment charged to the operators and income from the rental of drivers’ rest facilities.

HSL’s operating expenses amounted to EUR 593.2 million, some 3.5 per cent less short of the budget. Procurement costs for public transport services are the largest item of expenditure at EUR 470.6 million or 79.3 per cent of HSL’s operating expenses. The lower prices of fuels and lubricants as well as historically low interest rates helped to deliver cost savings

PASSENGER NUMBERS 2008 - 2015

(million boardings)                              Increase

2008              317.8                               3.6%
2009              319.5                               0.6%
2010              327.0                               2.3%
2011              335,9                               2.8%
2012              344.9                               2.7%
2013              351.4                               1.9%
2014              353.3                               0.6%
2015              358.6                              1.5%

 

 

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