The pandemic has led to large revenue losses for Vy. The company lost more than NOK 1 billion last year. Without public support, the losses would have been even greater.
“The goal during the pandemic has been to provide a good transport offer. It has cost us money, as infection control restrictions have reduced travel activity,” CEO of Vy Gro Bakstad noted.
She says it has been a demanding year for the train business.
“We have mainly provided our usual route offer but with few passengers,” she noted.
The result after tax for 2021 was a loss of NOK 1,026 million. Corresponding results in 2020 and 2019 were minus 858 and 564 million kroner, respectively.
State support
“Without financial compensation from the authorities, the results would have been much worse. We hope for continued financial support from the authorities,” Bakstad added.
The total number of trips with Vy’s trains in Norway and Sweden amounted to 35.8 million in 2021, about the same level as in 2020, but 54% lower than in the normal year of 2019. The number of trips with Vy’s buses in Norway and Sweden was 39% lower than in 2019.
The punctuality of the passenger train business in Norway last year was 87.8%.
“Unfortunately, customers have too often experienced cancellations and delays throughout the autumn,” Bakstad stated.
Source : © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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