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2nd interim 2018: Good results for the NSB Group, but demanding situation for CargoNet

Geir Isaksen - Foto Knut Bry

The NSB Group delivers a satisfactory operating profit of NOK 609 million after the first eight months of the year. For the freight business, the result is minus NOK 64 million, a reduction of NOK 32 million from the same period in 2017.

"The result for the first eight months of the year is characterized by a large increase in the number of passenger train journeys, stable and good bus operations and a continued demanding situation in CargoNet," says Geir Isaksen CEO of NSB.

3.4 million more train journeys

The number of journeys by passenger train has increased by 8 per cent compared to the same period last year. During the first eight months of 2018, 45.5 million train trips were carried out with NSB in Norway. This is 3.4 million more trips than the same period last year.

"We are pleased that more and more people want to travel by train. This however, may lead to crowded trains during rush hours. At the same time, we experience reduced punctuality, something neither the customers nor we are satisfied with. This is the main reason why customer satisfaction decreases from 76 to 71 in the period, explains Isaksen.

The operating income for passenger train business is NOK 473 million, which is at the same level as the corresponding period in 2017.

Good operations in the bus business
- Nettbuss shows good operations and at the same time maintains its market share in the tender market. For example, this summer, the company signed an agreement with Opplandstrafikk for bus operations in Gjøvik and won all four bus contracts that were out for tender in Telemark, says Isaksen.

Nettbuss operating profit is NOK 200 million, which is on the same level as the corresponding period in 2017.

Profitability within freight operations must be improved
The losses in CargoNet has led to a restructuring of the company.

"We are experiencing fierce competition, especially from foreign lorries. CargoNet has therefore implemented a number of changes to improve profitability. Fewer departures, price adjustments and about 50 fewer employees are the main measures, says Geir Isaksen.

Key figures

NOK million

T2 1018

T2 2017

Operating   income

10 502

9 841

Operating   result



Download full T2 report here:


Published: 28.09.2018, 13:20