27 Aug 2009
Interim results for the six months to 30 June 2009
Leading European transport group Arriva plc has today announcedinterim results for the six months to 30 June 2009.
Highlights
Robust financial performance
- Group revenue* up 10 per cent to £1,640 million
- Operating profit* increased four per cent to £88.7 million despite £18 million higher fuel cost
- EBITDA up 11 per cent to £165.6 million
Tight management control yielding benefits across thebusiness
- Strong UK Bus performance: targeted mileage reductions improving yield per mile
- Business development and improvement initiatives in Mainland Europe
- Cost savings and improved operational performance in UK Trains
- 17 per cent reduction in central costs
- Debt reduced and additional financing secured through to 2012
Resilient earnings supporting higher dividend
- Adjusted earnings per share** 23.2 pence (2008: 25.9 pence per share**)
- Interim dividend up five per cent to 6.46 pence per share
David Martin, chief executive, commented: “Our underlyingfinancial performance is strong in a challenging environment. Thehigh fuel costs in 2009, a legacy of the peak in the oil price,will reverse substantially in 2010. Tight management ofcontrollable costs across the group, and the benefits of ourbusiness development and efficiency initiatives, have contributedgreatly to offsetting the increase in fuel costs.
“Our passenger revenues in the UK have grown despite therecession, though at a slower rate recently. In mainland Europe, wewere delighted to win significant new work, the most recent examplebeing the award of the largest regional rail contract to be won bythe private sector in Germany to date, and there continue to befurther growth opportunities for tendered work.
"Although the short-term outlook for passenger revenue growth isdifficult to predict, we are confident that the group will continueto demonstrate its combination of resilience and growth potential.This is reflected in our decision to increase the interim dividendby five per cent."
* Before goodwill impairment and intangible asset amortisation,and including share of associated companies’ revenue andoperating profit
** Before goodwill impairment, intangible asset amortisation andexceptional items
Enquiries:
Arriva plc | 0191 520 4000 |
David Martin, chief executive | |
Steve Lonsdale, group finance director | |
Simon Craven, director – communications | |
Tulchan Communications | 020 7353 4200 |
Stephen Malthouse |
Notes to editors:
- Arriva is one of the largest private sector providers of passenger transport in Europe, employing more than 44,000 people (including share of associate companies) and providing more than one billion passenger journeys every year.
- Arriva provides transport services including buses, trains, commuter coaches and water buses, and operates in 12 European countries: Czech Republic, Denmark, Germany, Hungary, Italy, the Netherlands, Poland, Portugal, Slovakia, Spain, Sweden and the UK.
High resolution images are available for the media to view anddownload free of charge from www.vismedia.co.uk
ViewArriva Interim Results in full (PDF)