Annual and Sustainability Report 2020/2021

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Annual and Sustainability Report 2020/2021 Annual and Sustainability Report 2020/2021 NOBINA ÅRSREDOVISNING 2020/2021 • 1 Contents This is Nobina 3 The year in brief 4 Statement from the CEO 7 Nobina’s value creation 8 Trends 10 Nobina in the Nordics 12 Service traffic 16 Smart mobility 17 Nobina’s acquisition strategy 18 Strategic framework 20 Long-term targets 22 Sustainability agenda 25 The share 37 Sustainability statement 38 Remuneration report 57 Administration report 60 Consolidated financial statements Income statement 68 Statement of comprehensive income 68 Balance sheet 69 Statement of changes in equity 71 Cash flow statement 72 Parent Company financial statements Income statement 73 Balance sheet 74 Statement of changes in equity 75 Cash flow statement 76 Notes 77 Signatures of the Board of Directors 110 Auditor’s report 111 Corporate Governance Report 114 Board of Directors 128 Group management 130 Risk management 132 Multi-year overview 136 Information on performance measures 137 Glossary 139 Annual General Meeting 140 This is Nobina’s Annual Report for the period March 2020 to February 2021. It includes the formal Annual Report, Corporate Governance Report and the statutory Sustain- ability statement with the GRI index. SECTION Everyone wants to travel with us NOBINA ANNUAL AND SUSTAINABILITY REPORT 2020/2021 • 1 Together, we keep society moving every day. THIS IS NOBINA A growth company in sustainable public transport Nobina has one of the Nordic region’s most complete offerings of expertise, support and services in sustainable public transport. We offer bus transport and service traffic, and develop digital payment solutions and planning tools for door-to-door travel. Our extensive experience, credibility among stable public clients, and our focus on high-growth regions, make us uniquely positioned for profitable growth. Our operations are also characterised by a strong focus on environmental improvements, social responsibility and responsible corporate governance. This encompasses a successful conversion QR CODE TO FILM of the fleet to renewable biofuels and electric operation, and our own eco-driving concept ON NOBINA – with a business model aimed at encouraging people to swap the car in favour of travelling together by bus. In addition to the positive environmental effect, we contribute to a more sus- tainable society through clear corporate governance and inclusive recruitment, which leads to increased integration and diversity in the communities in which we operate. Our green profile also improves access to financing on competitive terms. The leading public transport company in the Nordic region The business is cyclically robust with long-term contracts. In 3,964 addition to expanding the contract business, we create BUSES IN 114 growth in bus-for-rail services, extra traffic and other areas CONTRACTS IN with attractive profitability and low capital intensity. We are 34 TRAFFIC AREAS growing organically and through acquisitions. IN FOUR COUNTRIES Expanding and profitable business in service traffic Demographic changes and a fragmented provider market offer us substantial opportunities to continue our profitable growth 1,300,000 journey in service traffic, healthcare-related transport services SERVICE TRAFFIC and related areas, organically and through acquisitions. JOURNEYS COMPLETED Long-term growth opportunities in smart mobility With the Travis app, we offer people an opportunity to travel 200,000 TRAVIS DOWNLOADS sustainably from door to door. The aim is to create a market- leading position in smart mobility in the largest cities in the Nordic region. NOBINA ANNUAL AND SUSTAINABILITY REPORT 2020/2021 • 3 A special but successful year M A M “We look back on a year with a clear improvement in earnings and strong move- ments in key growth areas” MARCH APRIL Samtrans redirects opera- Samtrans secures contract for supple- President and CEO, Magnus Rosén tions and begin to transport mentary traffic in Järfälla Municipality on Nobina’s performance in individuals with suspected and opens first test station for Covid- 2020/2021 Covid-19. 19 in Stockholm. Decision to close front entrance doors to protect our drivers. Work begins to develop a protective glass shield. J JUNE Three major traffic start-ups in Halland, Linköping and Sjuhärad – involving a total of 250 buses. Bus-for-rail services start on behalf of SJ in Norway for all of its railway lines in the country. J JULY New contract in Helsinki, that includes Finland’s first electric articulated buses. AUGUST New contract to operate express and regional transport in Linköping, and a third traffic contract in Norrbotten. Launch of new BRT route in Barkarby- staden, with four fully electric buses. A 4 • NOBINA ANNUAL AND SUSTAINABILITY REPORT 2020/2021 THE YEAR IN BRIEF F TRAVIS DOWNLOADED 200,000 TIMES. The FEBRUARY popularity of Nobina’s digital travel planner, for a Samtrans expands its activities in smooth journey from door to door, is continuing to grow and is helping to increase mobility and promote service traffic in Sörmland. more bus travel. Travis and the car-pooling service 99.96 PERCENT TRAFFIC DELIVERY IN 2020. This Kinto Share initiate cooperation. means only four out of 10,000 scheduled bus depar- tures were cancelled. The Public Health Agency of Sweden renews Samtrans’ contract for the 1400 NEW BUS DRIVERS AND MECHANICS were large-scale testing of Covid-19 by up recruited by Nobina over the past year, through our to two years. own initiatives and together with job centres 91 PERCENT of all kilometres driven by Nobina’s buses last year were driven with The Green Journey (DGR) method. DGR reduces fuel consumption – and the J calmer driving style increases travel safety. JANUARY 223,000 TONNES OF CARBON DIOXIDE the reduc- Secures extended contract from tion in Nobina’s emissions in 2020/2021, compared MOVIA to develop bus services with if the buses had been run on diesel. This is in the Roskilde region, with equivalent to emissions from 100,000 passenger 13 electric buses. cars during a year. 10,000 INDIVIDUALS with Covid-19 symptoms were transported to hospitals by Samtrans during the spring 2020. Nobina aims to reduce its carbon dioxide emissions per driven kilometre by 80 percent by 2030, compared with the level in D 2015. DECEMBER Acquisition of KE’s Bussar in Kungs- backa strengthens contract business. Samtrans takes first step in expanding outside of Stockholm and acquires SALES Göteborgs Buss. Launch of new climate target. SEPTEMBER SEK 10,787 million New contract for city Renewed agreement to operate and transport services in the develop regional and rural traffic Turku region of Finland, services in Lund. with 42 electric buses. PROFIT BEFORE TAX (EBT), ADJUSTED Extended responsibility in bus-for- rail services for Skånetrafiken. SEK 602 million S O N NOBINA ANNUAL AND SUSTAINABILITY REPORT 2020/2021 • 5 “Nobina has an outstanding organisation that can deliver and will continue to contribute towards offering more and more sustainable transportation.” 6 • NOBINA ANNUAL AND SUSTAINABILITY REPORT 2020/2021 STATEMENT FROM THE CEO Strong year with challenges The 2020/21 fiscal year was successful despite challenging conditions. We strengthened our leading position in sustainable public transport in the Nordic region, reached record-high sales and our strongest profit ever, and demonstrated an ability to adapt operations in a short period of time. Sales for the fiscal year, adjusted for currency accelerated during the fiscal service traffic and digital effects, rose 2.8 percent to SEK 10.8 billion and year with several new con- travel platforms, and are adjusted EBT amounted to SEK 602 million tracts featuring predom- now focused on building (464). inantly electric buses. “Today, Nobina is the similar positions in the Today, Nobina is the largest electric bus operator other Nordic countries. A leading operator largest electric bus in the Nordic region and we are During the fiscal year, Samtrans, which we acquired in 2018, was operator in the Nor- we advanced our posi- gradually nearing our new responsible for a significant share of the earn- dic region and we are tions in Norway in ings improvement. Whilst its core business is gradually nearing our climate target to reduce bus-for-rail services service traffic, early in 2020 Samtrans redi- new climate target to carbon dioxide emissions by and strengthened rected its operations to concentrate on Covid- reduce carbon dioxide 80 percent by 2030.” profitability in the con- 19 testing. As I write this Statement, Samtrans emissions per driven tract portfolio. In Finland, is the leading provider of testing in Sweden kilometre by 80 percent by we established a leading with 290 Covid-19 testing stations, and an 2030. Our ESG ambitions are position in electric-powered agreement to continue Covid-19 testing until also appreciated by our finan- buses. In Denmark, we secured December 2021, with an option to extend to ciers, which was apparent in the sub- our first electric bus contract and the end of 2022. In parallel, the dynamics of stantial interest in our green bond. reported growth in service traffic. Samtrans’ core business is strengthening fur- In March 2021, we issued Profitable growth is the focus ther as the proportion of elderly people rises, another SEK 200 million within going forwarad and is, just like society becomes more inclusive and there is the framework of the green “Samtrans, which in recent years, a mix of increased demand for high quality services by bond on competitive terms. we acquired in 2018, organic growth and growth our customers. Another area where we was responsible for through acquisitions. For In contracted regular bus services, we suc- are advancing our positions a significant share organic growth, we are cessfully compensated for a sharp decrease in is in smart mobility through careful to secure contracts travel during the year. We were able to retain our digital platform for flex- of the earnings only with potential for profitability through extra traffic, bus-for-rail ible travel door-to-door improvement.” attractive margins.
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