Nobina AB

Nobina reports continued improvement of earnings

Pressmeddelande   •   Dec 21, 2009 15:56 CET

The Nobina Group, including its Swedish subsidiary Nobina Sweden (formerly Swebus), improved its EBIT to 205 MSEK for the first nine months this year from 177 MSEK the same period last year, an improvement of 28 MSEK equivalent to 15 percent. The profit improvement was primarily an effect of higher efficiency in the fleet management and growth in the express business.

Revenues increased by 4 percent to 4,673 MSEK for the period (4,508), primarily driven by volume increase in public transport contracts and an increased number of passengers in the express business.

Profit before tax amounted to 145 MSEK for the first nine months representing an improvement of 236 MSEK compared to the same period last year, including an unrealized exchange gain on the Euro based senior notes amounting to 118.

The development of the company’s performance continues to show on-going improvements of earnings, which is very satisfying considering several new start-ups in the contract portfolio as well as challenges from indexation of salary costs, says Per Skärgård, CFO of Nobina AB.

The cash flow of the Group was positive by 59 MSEK in the period, an improvement of 90 MSEK. The cash flow from operations improved by an additional 93 MSEK during the same period.

The complete interim report covering the company’s first nine months 2009/2010 is available at www.nobina.com.

For further information, please contact:
Per Skärgård, CFO, tel: +46 8 41065056

About Nobina:
The Nobina Group (formerly Concordia Bus Group) is the largest public bus transport operator in the Nordic region. Nobina’s mission is to simplify everyday travelling. The business comprises operations on contracts as well as express coach services. The Group consists of the operational companies Nobina Sverige AB and Swebus Express AB in Sweden, Nobina Norge AS, Nobina Finland Oy and Nobina Danmark A/S. Serving approximately 280 million travellers per annum makes Nobina one of Europe’s ten largest companies within public transportation. During the financial year 2008/09 the Group reported net sales amounting to approximately SEK 6,1 billion and at the same time employed 7,600 people.