HSL financial statements 2016: a strong financial result thanks to increased passenger numbers and lower-than-expected operating costs

In 2016, HSL ran a surplus of nearly 19 million euros, while the budget provided for a loss of 15.5 million.
“The good result was due to increased passenger numbers, as well as lower-than-expected fuel prices, low interest rates and moderate wage solutions,” says HSL Executive Director Suvi Rihtniemi.

"Despite the good result, there is pressure to increase ticket prices in the coming years because our operating expenses are estimated to increase by over 15 percent by 2019. The Ring Rail Line and the West Metro to be completed this year increase infrastructure costs in particular,” says Rihtniemi.

In 2016, HSL’s operating income totaled 641.7 million euros, exceeding the budget by 10.6 million euros. Ticket revenue accounted for 51.6% of the operating income, municipal contributions for 45.8%. Other operating income mainly consisted of government subsidies and ticket inspection revenue.  

Operating expenses amounted to 613.7 million euros, 40,5 million euros short of the budget. At nearly 477 million euros, public transport operating costs were by far the largest item of expenditure, accounting for 78% of operating expenses.  

HSL’s passenger numbers continued to increase. Over 367 million journeys were made in the HSL area, an increase of 2.4% from 2015. The biggest increases were seen in train and tram ridership.

"The Ring Rail Line has increased train travel and passenger numbers have increased, in particular, at the Helsinki Airport station,” explains Rihtniemi. Tram ridership increased, among other things, due to new services to Jätkäsaari.

Customer satisfaction with public transport remained high, with 88% of passengers being satisfied with public transport services according to HSL’s surveys.

HSL passenger numbers in 2010-2016
             mill. boardings    Increase %    
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     
2016    367.2                  2.4     

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