Press releases
Preliminary results for the year ended 31 December 2007
6 March 2008
Highlights
- Revenue up 16 per cent to £2.0 billion, operating profit 7 per cent higher at £128.0 million after absorbing increased fuel prices and the cost of three UK rail bids
- Group order book up 79 per cent to £12.0 billion, mainland Europe up 18 per cent to £4.0 billion
- Strong UK Bus performance: operating profit up 16 per cent, customer satisfaction improved
- Smooth CrossCountry start and excellent improvements in operational performance at Arriva Trains Wales
- Double-digit mainland European growth driven by new contracts, acquisitions and investments: 23 per cent revenue growth, and 15 per cent operating profit growth*
- Adjusted EPS** from continuing businesses up 5 per cent to 46.5 pence
- Consistent high levels of cash generation: EBITDA from continuing operations up 7 per cent to £249.2 million
- Strong balance sheet
- Significant increase in proposed final dividend: up 10 per cent to 17.06 pence, giving a total dividend for the year of 22.65 pence
* Before goodwill impairment and intangible asset amortisation
and including share of associated companies’ revenue and
operating profit
** Before goodwill impairment, intangible asset amortisation and
exceptional items
Commenting on the results, Arriva’s chief executive, David Martin, said:
Arriva’s financial results reflect a good trading year underpinned by strong operational performance across the group. We have continued to grow through contract wins and acquisitions.
I am confident that the full benefits of recent successes in growing our operations will be demonstrated in 2008. The year has started well and we are on track to meet our target of doubling the size of our mainland European business from its 2006 level by 2011.
Our financial strength, order book, and diversified portfolio of operations have enabled us to raise our proposed final dividend substantially. Arriva shows the qualities of a robust, resilient business poised for further success.
ENDS
Enquiries:
| Arriva plc | |
| David Martin , Chief Executive Steve Lonsdale, Group Managing Director – Finance Simon Craven, Director – Communications |
020 7353 4200 on 6 March 0191 520 4000 thereafter |
| Tulchan Communications | |
| David Trenchard Stephen Malthouse |
020 7353 4200 |
Note to editors:
Group order book - These figures are estimates of future revenue from contracted business, over a year in duration, rolled forward to reflect contract variations and updated to current prices at each year end.
Arriva is one of the largest transport services organisations in Europe with operations in Denmark, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, the Czech Republic, Poland and the United Kingdom. With some 40,000 employees, including share of associate companies, Arriva provides more than one billion passenger journeys every year through an extensive range of public transport services including buses, trains, commuter coaches and water buses. In the UK, the group is also engaged in bus and coach distribution.
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