The harsh winter weather took a toll on SJ's trains and unfortunately affected many travelers.
Due to a major vehicle shortage, mainly caused by the severe winter, many departures were cancelled during the quarter. Significantly more damage than usual occurred when our trains encountered large amounts of snow and cold throughout the country for a long time. The need for maintenance increased dramatically and was also made more difficult by the fact that the trains had to be de-iced first.
Mainly lower travel due to vehicle shortages therefore affected the first quarter's operating profit, which amounted to SEK -74 million (48).
During March we saw a clear improvement and our traffic started to run more normally. During the quarter as a whole, however, we have had to run significantly less than planned. It is critical that SJ does everything possible to cope with potentially increasingly severe winters, which is why SJ will expand workshop capacity, train more depot employees and improve our customer communication. The new modern express trains and regional trains that SJ is investing in will be better equipped for winter conditions.
After a short preparation period of 16 weeks, SJ took over responsibility for the operation and maintenance of the commuter trains in Stockholm County in a two-year emergency agreement. The transition went well, largely thanks to excellent cooperation with everyone involved.
-Successfully taking over responsibility for such extensive traffic as the commuter trains in Stockholm in a short time shows the expertise and experience that exists within SJ. We now look forward to developing the business together with the traffic administration and all the new employees we have welcomed. We sense positive momentum and there are many good ideas to implement. But it will take time before the improvements are noticeable among passengers and we ask for patience, says SJ's President and CEO Monica Lingegård.
Outcome first quarter 2024:
Net sales amounted to SEK 2,673 million (2,478)
Operating profit amounted to SEK -74 million (48)
The net debt/equity ratio was 0.87 times (0.73).
Return on operating capital amounted to 7.3 percent (10.1)
According to the press release.
