Rail passengers grow while earnings dip

Swiss Federal Railways transported record number of passengers in 2010, but it has appealed for investment after seeing earnings drop by nearly 20 per cent.

This content was published on March 30, 2011 minutes and agencies

Passenger numbers were up six per cent to 347 million in 2010, with profits from passenger services rising from SFr280.6 million ($304.8 million) to SFr292.6 million. The cargo division also saw a 12 per cent rise in transported merchandise.

Despite this, earnings fell to SFr298.3 million in 2010 as a result of investment in the group’s pension fund and infrastructure.

Ulrich Gygi, head of the board of directors, said: “By 2050, SFr40 billion needs to be invested in the running, maintenance and expansion of the railway network. To do this, it is imperative to find more resources.”

During the year, Federal Railways properties generated SFr246.7 million, of which SFr79.2 was used to boost the pension fund and another SFr150 million was ploughed into infrastructure.
The cargo division suffered a year-end loss of SFr64 million, slightly more than in 2009 (SFr62.5 million).

In 2010, 87 per cent of trains arrived on time or with a delay of under three minutes. Following the five per cent rise in prices in December, the group expects to introduce an annual three per cent rise in the years to come.

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