Record year and increased profits in Øresundsbron

2017 was another year that delivered increased profits and set a new road traffic record for the Øresund Bridge. Profits amounted to DKK 1,070 million before value adjustment, which is a rise of DKK 50 million compared to 2016.

Road traffic across the Øresund Bridge continued to rise in 2017. Like the year before, July set two new records – for the number of vehicles per day (32,000 on 22 July) and the number of vehicles in one month (847,100 trips). There was an average of 20,631 vehicles per day in 2017. Some 7,530,255 vehicles crossed the bridge during the year, which exceeds the previous record from 2016. By June 2017, 100 million vehicles had crossed the bridge since its inauguration in 2000. In total, road traffic increased by 1.7 per cent.

Leisure traffic posted the strongest performance with an increase of 336 vehicles (5.6 per cent) per day. Over the years, leisure traffic has increased significantly due to a strong marketing effort. Not only has the number of leisure travellers increased, the number of trips they make in a year has too. The average leisure traveller now makes some eight trips per year. Business traffic increased by 75 vehicles per day, while commuter traffic showed a modest decline. This is due to the changes to border controls for rail passengers, making rail travel easier. Moreover, the journey time is now shorter and the number of departures has increased. At the same time, commuting by car is 3.3 per cent higher than it was in 2015, i.e. before the introduction of border controls.

The Øresund Bridge attracted 68,600 new leisure customers and now has 497,000 contract customers.

”Our strong growth stems from our committed effort to increase traffic. We offer our customers favourable contracts and short trip discounts in the evenings and at weekends in the winter season.  In collaboration with our partners on both sides of the Øresund waterway, we offer our customers good deals on excursions and events on the ‘other side‘.  The response shows that our customers appreciate what we have to offer,” says Caroline Ullman-Hammer, CEO, Øresundsbro Konsortiet.

Revenue from road traffic rose by DKK 59 million to DKK 1,405 million. Revenue from the railway, which is a fixed fee that is adjusted in line with price trends, rose by DKK 5 million.

Operating expenses declined by DKK 13 million to DKK 262 million.

″We work continuously to ensure the bridge is run as efficiently as possible. Our determined aim is to reduce costs without this impacting negatively on our customers and we’ve succeeded in doing this,” says Caroline Ullman-Hammer.

Operating profit totalled DKK 1,389 million, an improvement of DKK 82 million.

Øresundsbro Konsortiet’s interest expenses rose for the period under review from DKK 287 million to DKK 319 million. This is due to higher inflation in 2017 compared to 2016. Interest-bearing net debt fell by DKK 1.247 million in 2017.

On the backdrop of the most recent traffic forecasts, Øresundsbro Konsortiet’s debt could be repaid in 2033.  

The Board of Directors suggests a dividend of DKK 1,070 million being paid to the owner companies in 2018, in order for them to begin repaying the loans that financed the landworks.

 Main items for the period January-December (DKK million):

* The value adjustment is an accounting principle whereby financial assets and liabilities are determined at their market value. The value adjustment is disclosed under Financial income and expenses. The value adjustment has no impact on the company’s ability to repay its debt.

Road traffic development 2017

* The category also includes passenger cars with a trailer as well as vans and motorcycles.
** ’Applies to the period 1 October 2016 to 30 September 2017, the latest period for which data is available.

Øresundsbro Konsortiet