HSL financial statements 2017: positive trends in ticket revenue and passenger numbers

In 2017, HSL ran a deficit of 2.5 million euros, while the budget provided for a loss of 22.7 million euros. “The good result was due to higher-than-expected passenger numbers, low interest rates and lower-than-expected fuel prices,” says Suvi Rihtniemi, the Executive Director of HSL.

Ticket revenue accounted for 54.4% of HSL’s operating income, municipal contributions for 42.9%. Other operating income mainly consisted of government subsidies and ticket inspection revenue.  HSL’s operating income totaled 657.2 million euros, exceeding the revised budget by 14.5 million euros (2.2%). 

Ticket revenue amounted to 357.7 million euros, exceeding the budget by 14.1 million euros (4.1%). Ticket revenue was up by 7.9% from the previous year. Ticket prices were increased by an average 4.1% at the beginning of 2017.

Mobile ticket sales totaled about 19 million euros, an increase of as much as 270% from the previous year. The number of people who downloaded the mobile ticket app increased to over 700,000. New advance purchase single tickets available from kiosks and stores were introduced. In addition, single tickets became available from parking ticket machines in Helsinki (about 400 machines).

Municipal contributions from HSL’s member municipalities totaled 281.9 million euros, down by 11.9 million euros (4.1%) from 2016. 

HSL’s operating expenses were 648.1 million euros, 29.7 million euros less than budgeted (4.4%). Public transport operating costs were again the biggest cost item (77.3%).  

Passenger numbers increased by two per cent from the previous year.  In total, 374.7 million journeys, over one million journeys a day, were made on HSL’s transport services. Tram ridership was up by 6.3% and is expected to continue growing at significant rates.

The city bike season was record-breaking. The bikes were particularly popular in areas close to Metro stations and during peak commuting hours. Over 34,000 people registered for the whole city bike season, while in 2016 the figure was 10,000.

The customer recommendation index or Net Promoter Score (NPS), used to measure customer satisfaction, fell in August following the ending of ticket sales on trains, but recovered towards the end of the year. According to the spring 2017 customer satisfaction survey, 88% of passengers were either fairly or very satisfied with HSL’s public transport services.

HSL passenger numbers in 2013-2017

             m boardings    Growth%   

2013    351.4               1.9   

2014    353.3               0.6    

2015    358.6               1.5    

2016    367.2               2.4

2017    374.7               2.0             

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