VR’s net profit in 2007 best in this decade

VR Group’s net profit in 2007 was EUR 66.4 million, compared to EUR 63.1 million the previous year. The Group’s operating profit was EUR 87.1 (85.2) million. The net profit is the best the Group has achieved during this decade. The growth in passenger services was the main factor in this improvement.

Net turnover totalled EUR 1,334.1 (1,264.6) million. The Group’s financial position and liquidity remained good.

Passenger services at record levels

The total number of passenger journeys was 66.7 million, which is a record. Altogether 12.9 million long-distance journeys were made, an increase of 3.1% from the previous year, and 399,000 rail journeys were made between Finland and Russia, growth of 18.4%.

The number of journeys in commuter services in the Greater Helsinki area increased 4.9% to 53.7 million. Commuter journeys outside the area administered by the Helsinki Metropolitan Area Council (YTV area) increased 14.6% to 11.5 million. A main factor in the sharp increase in commuter traffic was the opening of the direct Kerava-Lahti line in September 2006. Rail journeys in the YTV area totalled 42.3 million, an increase of 2.5%.

Passenger services recorded a net turnover of EUR 370.2 (340.0) million. Decline in volume of freight from Russia

VR Cargo’s carryings totalled 40.3 (43.6) million tonnes. Domestic carryings accounted for 26.2 (26.0) million tonnes and international freight carryings for 14.1 (17.6) million tonnes.

Forest industry carryings remained the largest product segment in domestic freight traffic, totalling 20.1 million tonnes. Metal industry carryings were 4.4 million tonnes and carryings for the chemical industry 1.6 million tonnes.

Most of the international freight traffic, 13.5 million tonnes, comprised carryings between Russia and Finland. This traffic declined 20.0% from the previous year. Some 40% of these carryings were imports of round timber, about 40% were chemical industry products and virtually all the rest were metal industry products. Imports of round timber from Russia declined more than 30%.

VR Cargo recorded a net turnover of EUR 340.0 (358.9) million.

Group’s truck services expanded internationally

The Pohjolan Liikenne companies transported altogether 10.8 million tonnes of freight, an increase of 10.0% on the previous year. Some of this growth came from the Baltic countries and Eastern Central Europe.

The number of bus and coach journeys totalled 14.4 million, 2.4% more than in the previous year.

The Pohjolan Liikenne group’s net turnover grew 19.3% to EUR 289.3 (242.4) million. Freight accounted for 86% of this and passenger services for 14%.

VR-Track still the biggest track contractor

VR-Track Ltd’s net turnover was EUR 244.5 (239.2) million. The largest customer was the Finnish Rail Administration, which manages the national track network and is subordinate to the Ministry of Transport and Communications. VR-Track carried out just over half of the track work ordered by the Finnish Rail Administration.

The largest track superstructure contract was for the Turku-Toijala track section. Other major superstructure contracts were those on the Uimaharju–Lieksa, Tampere–Seinäjoki–Oulu and Kuopio–Iisalmi line sections.

The biggest marshalling yard contracts were at the Ilmala depot in Helsinki and in Imatra.

The main railway planning projects were for the renovation of the Seinäjoki–Oulu, Toijala–Turku and Tornio–Kolari track sections.