Overall, road traffic increased by 3.1 per cent in the first quarter of the year, corresponding to 521 vehicles per day, compared to the same period last year. That Easter fell in the second quarter this year instead of the first quarter last year impacted the various traffic categories.
Revenue increased by DKK 9 million while operating expenses decreased. Profits before interest were DKK 270 million, which is an improvement of DKK 11 million. Interest expenses increased largely as a result of higher inflation in Sweden and Denmark.
”This is an excellent start to the year,” says Caroline Ullman-Hammer, CEO, Øresundsbro Konsortiet. ”The increased revenue is the result of our focus on our BroPas customers through campaigns, special offers and the like, largely via social media. In the first quarter, we can see a record number of new BroPas customers. The rise in interest expenses owing to higher inflation is fully in line with expectations.”
In total, this has delivered a profit of DKK 209 million before value adjustment, which is a decrease of DKK 4 million compared to the same period last year.
Main items for the period (DKK million)
|Jan – March 2017||Jan – March 2016||Development|
|Financial income and expenses||-61||-46||-15|
|Profit before value adjustments||209||213||-4|
|Value adjustment, fair value effect, net*||181||-392|
|Value adjustment, exchange rate effect, net*||-6||25|
|Profit/loss for the period||384||-154|
* Value adjustment is an accounting principle whereby financial assets and liabilities are regularly determined at their market value. The value adjustment is shown in the financial statements under financial income and expenses. The value adjustment has no effect on the company’s ability to repay its debt.
Traffic development for the period January-March
|Traffic per day 2017||Traffic per day 2016||Traffic development|
|Passenger cars total*||16,132||15,675||2.9 %|
* The category also includes passenger cars towing a trailer, vans and motorcycles.