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Investor Presentation 2019
Eversholt Rail Investor Presentation 2nd December 2019 Contents • Strategic context • Refranchising, opportunities and challenges • New and existing fleet management • Financial overview • Conclusions • Q&A 1 Executive summary • 2015-2018 characterised by investment to grow balance sheet • General election result and Williams Review should set the industry’s direction of travel over the medium term • Business focused on long-term value while addressing strategic challenges and opportunities • Contracted new build programmes coming to a very successful conclusion: C802 fleet fully delivered, C397 in advanced state of delivery and C195/C331 fleets progressing well • Management effort shifting to maximising opportunities for fleets with leases expiring in the near future and exploring attractiveness of alternative growth opportunities 2 Strategic context Strategy Great Trains, Great People, Great Future To be recognised as the expert provider of transport asset financing and Vision asset management for the long term Two strands to our strategy: 1 Optimise our current portfolio through maximising asset utilisation and investing to enhance residual value (RV) 2 Developing opportunities for further growth in transport sector Maintain investment discipline: we will continue to be selective in choosing growth opportunities ensuring that they are the right assets for our portfolio Great Trains Great Great People Great Great FutureGreat C802 all units in service Company offsite C397 in service 2019 4 2019 – pressures across the rail industry Reshaping -
Project the Latest Alternative Train Tech
SEE INSIDE FOR: A national traction climate strategy n Designing a ‘green’ project n The latest alternative train tech: batteries & hydrogen n The case for more wires Decarbonisation Special 76 Decarbonisation SMART TRANSPORT CONFERENCE 2019 Special CONTENTS Full steam ahead BCRRE introduces its 40soon-to-be-launched Centre of Excellence in Decarbonisation. Ready to charge VIVARAIL explains how its 42latest innovations will revolutionise rail traction. Bright spark Why HITACHI thinks that 44battery power is the answer to powering zero emissions trains ‘off the wires’. Industry taskforce How the recommendations of 46the Decarbonisation Taskforce final report are now being implemented. The market leader ALSTOM seeks to expand the 52reach of the world’s only DATE: 17 MARCH 2020 in-service hydrogen-powered trains. PHIL METCALFE. Mean, green machine VENUE: ETC VENUES, How SIEMENS MOBILITY is 54perfectly in step with the UK’s COUNTY HALL, LONDON ambition to phase out diesel trains. Smart money Welcome SYSTRA tells RAIL how cutting Find out about local and national a project’s carbon footprint n June 12 2019, in one of her final to achieve this vision. 56 does not always mean increasing the cost. government transport challenges acts as Prime Minister, Theresa Meanwhile, Network Rail’s Head of ADVANCED • May announced that the UK will Strategic Planning Helen McAllister provides Listen to multi-modal solutions Oend its net contribution to global an update on the Traction Decarbonisation RATE NOW greenhouse gas emissions by 2050. Network Strategy (TDNS), which is being Current beliefs AVAILABLE • By amending the Climate Change Act 2008 developed to inform government decisions on Why electrification remains Network with senior public and to incorporate this target, it made the UK the providing support for further electrification, 58the future of UK railways, first G7 country to legally implement a net alongside the deployment of alternative according to FURRER + FREY. -
Energy Consumption and Carbon Dioxide Emissions Analysis for a Concept Design of a Hydrogen Hybrid Railway Vehicle Din, Tajud; Hillmansen, Stuart
University of Birmingham Energy consumption and carbon dioxide emissions analysis for a concept design of a hydrogen hybrid railway vehicle Din, Tajud; Hillmansen, Stuart DOI: 10.1049/iet-est.2017.0049 License: None: All rights reserved Document Version Peer reviewed version Citation for published version (Harvard): Din, T & Hillmansen, S 2017, 'Energy consumption and carbon dioxide emissions analysis for a concept design of a hydrogen hybrid railway vehicle', IET Electrical Systems in Transportation. https://doi.org/10.1049/iet- est.2017.0049 Link to publication on Research at Birmingham portal Publisher Rights Statement: Published in IET Electrical Systems in Transportation. Final version of record available at: http://dx.doi.org/10.1049/iet-est.2017.0049. Checked for repository 31/1/18 General rights Unless a licence is specified above, all rights (including copyright and moral rights) in this document are retained by the authors and/or the copyright holders. The express permission of the copyright holder must be obtained for any use of this material other than for purposes permitted by law. •Users may freely distribute the URL that is used to identify this publication. •Users may download and/or print one copy of the publication from the University of Birmingham research portal for the purpose of private study or non-commercial research. •User may use extracts from the document in line with the concept of ‘fair dealing’ under the Copyright, Designs and Patents Act 1988 (?) •Users may not further distribute the material nor use it for the purposes of commercial gain. Where a licence is displayed above, please note the terms and conditions of the licence govern your use of this document. -
Railway Services for Rural Areas
S Rural Railways pecial Feature Railway Services for Rural Areas John Welsby Railways in Britain were nationalised in ous 50 years or more, with steam trains, Early Days 1948, and the British Transport Commis- full signalling and even the smallest sta- sion was established to plan and coordi- tions being staffed, often with four or more The railway network in Britain was at its nate transport by rail, road, sea and ca- men. Timetables reflected pre-war travel most extensive in 1912 when 23,440 nal. At this stage, the only problem with patterns and services tended to be slow miles of route (37,504 route km) were the rail network was perceived to be un- and infrequent. open and every city, town and most vil- der-investment, and a major moderniza- The Great Western Railway had intro- lages were served by train. At this stage, tion programme was drawn up in 1955 duced a small fleet of diesel railcars in the railways were the dominant mode of for electrification of key routes, new sig- 1934 and British Railways introduced the transport in the country, with little com- nalling at major stations and replacement first of its DMUs in 1954, initially on the petition from road or the canals, which of steam locomotives. Carlisle-Silloth branch (now closed). The they had superseded. The railway was a With relatively few cars on the roads, and modernization programme, was imple- general purpose “common carrier” and, limited availability of new cars in post- mented before any decisions were made as well as passengers, the country station war Britain, the competitive threat from about the future of rural railways, or of would have handled the freight traffic of the explosion in car ownership in the the overall size of the rail network. -
East Midlands Franchise: Invitation to Tender
East Midlands Franchise Invitation to Tender 7 June 2018 1 The Department for Transport has actively considered the needs of blind and partially sighted people in accessing this document. The text will be made available in full on the Department’s website. The text may be freely downloaded and translated by individuals or organisations for conversion into other accessible formats. If you have other needs in this regard please contact the Department. Department for Transport Great Minster House 33 Horseferry Road London SW1P 4DR Telephone 0300 330 3000 Website www.gov.uk/dft General email enquiries: [email protected] © Crown copyright 2018 Copyright in the typographical arrangement rests with the Crown. You may re-use this information (not including logos or third-party material) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit www.nationalarchives.gov.uk/doc/open-government-licence/version/2 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or e-mail: [email protected]. Where we have identified any third-party copyright information you will need to obtain permission from the copyright holders concerned. 2 Contents Section 1: Introduction ...................................................................................................... 6 1.1 Introduction .............................................................................................................................. 6 1.2 Form of Contract -
Covid-19 Recovery Renewing the Transport System
Covid-19 Recovery Renewing the transport system July 2020 Covid-19 Recovery • Renewing the transport system 1 Contents Executive Summary 3 Introduction 5 Impact of the crisis 7 Opportunity for renewal 15 Facilitating the shift to a rapid renewal 34 References 36 Acknowledgements This paper was developed by Campaign for Better Transport and is solely its view. Organisations were engaged directly and through four virtual roundtable discussions in May 2020, with senior representatives of train and bus operators, government representatives, local authorities, passenger bodies, technology companies and other stakeholders. Thanks go to the following organisations that were engaged or participated in discussions to inform the contents of this report, including: Abellio Group, Angel Trains, Arriva Group, Avis Budget Group, Bird, Bombardier, Bus Users UK, BVRLA, Cambridge and Peterborough Combined Authority, Client Earth, Community Rail, Community Transport Association, CoMoUK, Confederation of Passenger Transport, Essex County Council, Eversholt Rail, First Group, Five AI, Go-Ahead Group, Grand Central Railway, GTR, HCT Group, Liverpool City Region, Living Streets, Local Government Association, Network Rail, North East Combined Authority, Rail Delivery Group, Rail Freight Group, Rail Industry Association, RSSB, Ryse Hygrogen, South Yorkshire Passenger Transport Executive, Stagecoach Group, Sustrans, The AA, Trainline, Transdev, Transport & Environment, Transport Focus, Transport for Greater Manchester, Transport for London, Transport for the North, Transport for West Midlands, Uber, Urban Transport Group, ViaVan, Wrightbus, Zeelo. The paper has also been peer reviewed by the Campaign for Better Transport Policy Associates Network. Thank you to Isabel Dedring, Jim Steer, Keith Buchan, Kris Beuret, Leon Daniels, Lilli Matson, Lynda Addison, Matt Lovering, Phil Jones, Prof. -
Marketplace Sponsorship Opportunities Information Pack 2017
MarketPlace Sponsorship Opportunities Information Pack 2017 www.airmic.com/marketplace £ Sponsorship 950 plus VAT Annual Conference Website * 1 complimentary delegate pass for Monday www.airmic.com/marketplace only (worth £695)* A designated web page on the MarketPlace Advanced notification of the exhibition floor plan section of the website which will include your logo, contact details and opportunity to upload 20% discount off delegate places any PDF service information documents Advanced notification to book on-site meeting rooms Airmic Dinner Logo on conference banner Advanced notification to buy tickets for the Annual Dinner, 12th December 2017 Logo in conference brochure Access to pre-dinner hospitality tables Opportunity to receive venue branding opportunities Additional Opportunities * This discount is only valid for someone who have never attended an Airmic Conference Airmic can post updates/events for you on before Linked in/Twitter ERM Forum Opportunity to submit articles on technical subjects in Airmic News (subject to editor’s discretion) Opportunity to purchase a table stand at the ERM Forum Opportunity to promote MP content online via @ Airmic Twitter or the Airmic Linked In Group About Airmic Membership Airmic has a membership of about 1200 from about 480 companies. It represents the Insurance buyers for about 70% of the FTSE 100, as well as a very substantial representation in the mid-250 and other smaller companies. Membership continues to grow, and retention remains at 90%. Airmic members’ controls about £5 billion of annual insurance premium spend. A further £2 billion of premium spend is allocated to captive insurance companies within member organisations. Additionally, members are responsible for the payment of insurance claims from their business finances to the value of at least £2 billion per year. -
REPORT of SOCIETY MEETING Tfl's RAIL ACTIVITIES in 2019
REPORT OF SOCIETY MEETING TfL’s RAIL ACTIVITIES IN 2019 by Kim Rennie A report of the LURS meeting at All Souls Clubhouse on Tuesday 11 February 2020 As has become customary, Kim began the presentation starting in January 2019 and progressed through the year with subjects featured in chronological order. Waltham Forest had been designated the first “London Borough of Culture” – a new civic arts and performance festival – and dedicated platform roundels, affixed over certain standard name signs, marked this at TfL stations within the borough. These included Highams Park, Leyton and Leytonstone. The relative lack of overall significant events on LU during the year meant that speaker had drawn on a greater number of non-LU rail subjects than he would have liked, for which he apologised, but such is life. Among these were the new Class 717 units introduced by Great Northern from January, and whose link with LU is their use on the former Northern City Line between Drayton Park and Moorgate. Both external and internal views were shown. Associated with this was the gradual replacement of the existing Class 313 units, which were also depicted, some in truly appalling external condition and with a mixture of liveries from former operators. Also beginning in January was the short-term use of LO Class 378/2 units on the Gospel Oak – Barking Line due to delays in commissioning the new Class 710/2 trains. These 378s were reformed from 5- cars to 4-cars in order to fit the existing operational length of platforms. Finsbury Park gained new lifts to all areas the same month. -
Trains Galore
Neil Thomas Forrester Hugo Marsh Shuttleworth (Director) (Director) (Director) Trains Galore 15th & 16th December at 10:00 Special Auction Services Plenty Close Off Hambridge Road NEWBURY RG14 5RL Telephone: 01635 580595 Email: [email protected] Bob Leggett Graham Bilbe Dominic Foster www.specialauctionservices.com Toys, Trains & Trains Toys & Trains Figures Due to the nature of the items in this auction, buyers must satisfy themselves concerning their authenticity prior to bidding and returns will not be accepted, subject to our Terms and Conditions. Additional images are available on request. If you are happy with our service, please write a Google review Buyers Premium with SAS & SAS LIVE: 20% plus Value Added Tax making a total of 24% of the Hammer Price the-saleroom.com Premium: 25% plus Value Added Tax making a total of 30% of the Hammer Price 7. Graham Farish and Peco N Gauge 13. Fleischmann N Gauge Prussian Train N Gauge Goods Wagons and Coaches, three cased Sets, two boxed sets 7881 comprising 7377 T16 Graham Farish coaches in Southern Railway steam locomotive with five small coaches and Livery 0633/0623 (2) and a Graham Farish SR 7883 comprising G4 steam locomotive with brake van, together with Peco goods wagons tender and five freight wagons, both of the private owner wagons and SR all cased (24), KPEV, G-E, boxes G (2) Day 1 Tuesday 15th December at 10:00 G-E, Cases F (28) £60-80 Day 1 Tuesday 15th December at 10:00 £60-80 14. Fleischmann N Gauge Prussian Train Sets, two boxed sets 7882 comprising T9 8177 steam locomotive and five coaches and 7884 comprising G8 5353 steam locomotive with tender and six goods wagons, G-E, Boxes F (2) £60-80 1. -
University of Southampton Research Repository Eprints Soton
University of Southampton Research Repository ePrints Soton Copyright © and Moral Rights for this thesis are retained by the author and/or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This thesis cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder/s. The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders. When referring to this work, full bibliographic details including the author, title, awarding institution and date of the thesis must be given e.g. AUTHOR (year of submission) "Full thesis title", University of Southampton, name of the University School or Department, PhD Thesis, pagination http://eprints.soton.ac.uk UNIVERSITY OF SOUTHAMPTON FACULTY OF ENGINEERING AND THE ENVIRONMENT Transportation Research Group Investigating the environmental sustainability of rail travel in comparison with other modes by James A. Pritchard Thesis for the degree of Doctor of Engineering June 2015 UNIVERSITY OF SOUTHAMPTON ABSTRACT FACULTY OF ENGINEERING AND THE ENVIRONMENT Transportation Research Group Doctor of Engineering INVESTIGATING THE ENVIRONMENTAL SUSTAINABILITY OF RAIL TRAVEL IN COMPARISON WITH OTHER MODES by James A. Pritchard iv Sustainability is a broad concept which embodies social, economic and environmental concerns, including the possible consequences of greenhouse gas (GHG) emissions and climate change, and related means of mitigation and adaptation. The reduction of energy consumption and emissions are key objectives which need to be achieved if some of these concerns are to be addressed. -
Getting on the Right Track
spotlight LEVERAGED FINANCE GETTING ON THE RIGHT TRACK JOANNA HAWKES OF ANGEL TRAINS EXPLAINS SOME OF THE ISSUES FACING THE ROLLING STOCK LESSOR IN THE FUNDING AND LEASING OF TRAINS TO THE OPERATING COMPANIES. he purpose of this article is to outline the issues facing the rolling stock lessor, both from the perspective of financing the purchase of rolling stock, as well as leasing it to the trains operating companies (Tocs). It focuses mainly on the Tactivities and experiences of Angel Trains (Angel). BACKGROUND. The three rolling stock leasing companies (Roscos) Angel, Porterbrook Leasing and HSBC Rail (formerly Eversholt tandem with extended and renegotiated franchises. As the market Leasing) were originally formed in 1994 out of the privatisation of has developed, lease contracts have become more bespoke and very British Rail. Their business is owning, maintaining and leasing rolling heavily negotiated. stock. At the time of public offer, fears of re-nationalisation under For a number of reasons – partly strategic, partly historic – Angel an incoming Labour government were high. Offers to buy from the Trains finances about 80% of its portfolio in the banking market, finance sector were limited and consequently two of the three were rather than via its parent. Figure 2 illustrates the current simplified the subject of management buy outs. Over subsequent years, industry structure. however, Roscos have migrated towards their natural home for UK leasing companies, and each has become a subsidiary of a big TYPES OF LEASES. There are a number of variations in the types of financial institution: Royal Bank of Scotland (Angel), Abbey National lease structures, but generally capital rentals are fixed. -
Britain's Rail Delivery Group, Comprising the Chief Executives of the Rail Owning Groups, Freight Operators and Network Rail T
Written evidence from the Rail Delivery Group (ROR 01) 1. This is the response of the Rail Delivery Group (RDG) to the Transport Select Committee’s call for evidence on the reform of the railways. 2. The RDG welcomes the Government’s support for the RDG contained in the Command Paper ‘Reforming our Railways: Putting the Customer First’, which was published today. The Paper calls on the Rail Delivery Group to provide leadership to the industry and to respond to the Government’s strategic challenges. The Command Paper lays out the Government’s vision for an expanding and efficient railway that meets the needs of passengers, freight users and taxpayers. The Government sees the Rail Delivery Group leading the industry in driving up efficiency and demand for the railway. This is a challenge that the Group accepts. 3. The Command Paper calls on the Rail Delivery Group to lead the rail industry in working together to deliver a more efficient, more affordable railway. The Rail Delivery Group is pleased that the Government has recognised that the Group is taking and shaping the industry’s agenda for a sustained programme of improved management and running of the rail network. 4. The Command Paper lists the six priority areas being addressed by the Group • Asset, programme and supply chain management; • Contractual and regulatory reform; • Technology, innovation and working practices; • Train utilisation; • A whole-system approach; and • Industry planning 5. The Rail Delivery Group was created to unlock efficiencies that will improve Britain’s railways. In its first nine months the Group has identified opportunities for a range of savings, for example in asset management through earlier involvement of the operators in planning work on the network.