VR Group Annual Report 2002
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Contact Information Highlights of 2002 VR-Group Ltd • The Pendolino service was extended to Oulu and Kuopio. P.O. Box 488 • Timetabling for passenger services was restructured and (Vilhonkatu 13) travel times shortened. FIN-00101 Helsinki • Container traffi c to East Asia and combined road-rail Tel. +358 307 10 transport in Finland both grew in volume. Annual Report 2002 Report Annual Fax +358 307 21 700 • Transport of heavy freight with 25-tonne axle loads started www.vr.fi between Kirkniemi and the Port of Hanko. • Some 300 men and VR-Track’s key machinery worked on VR Ltd renovation of the Savo line, the company’s largest worksite P.O. Box 488 Annual Report 2002 in 2002. (Vilhonkatu 13) FIN-00101 Helsinki • Transpoint expanded its range of general cargo services. Tel. +358 307 10 • Helsinki railway station’s restaurant was refurbished Fax +358 307 22 330 capturing the essence of architect Eliel Saarinen. www.vr.fi VR-Track Ltd P.O. Box 488 (Vilhonkatu 13) Financial information in 2003 FIN-00101 Helsinki Tel. +358 307 10 • The Annual Report is published in Finnish, Swedish, Fax +358 307 21 051 English and Russian. www.vr.fi • Interim Reports will be published in June and October. • Interim Reports are published in Finnish, Swedish and Oy Pohjolan Liikenne Ab English. Postintaival 3 • The Annual Report and Interim Reports can be down- FIN-00240 Helsinki loaded from the Internet at www.vr.fi , under VR Group. Tel. +358 307 15 Fax +358 307 23 760 • Printed copies can be ordered by contacting VR-Group www.pohjolanliikenne.fi Ltd’s Corporate Communications, tel. +358 307 20 827, fax +358 307 21 500 or by writing to P.O. Box 488, FIN-00101 Helsinki, Finland. Avecra Oy Veturitie 20 FIN-00240 Helsinki Tel. +358 307 14 Fax +358 307 22 910 www.avecra.fi Corenet Ltd P.O. Box 488 (Vilhonkatu 13) FIN-00101 Helsinki Tel. +358 307 17 Fax +358 307 20 999 www.corenet.fi IT Solicom Ltd P.O. Box 46 (Valimotie 15 B) FIN-00381 Helsinki Tel. +358 307 18 Fax +358 307 22 122 www.itsolicom.fi Photos: Leif Rosnell Finnish Railway Museum, pages 10–11 Cover photo: The Jyväskylä Travel Centre was opened in 2002. Libris 2003 Contents VR in Brief ........................................................................ 5 The VR Group .................................................................. 6 VR Group Structure.......................................................... 8 Key Figures ...................................................................... 9 VR´s 140-Year History..................................................... 10 Chief Executive´s Review ................................................ 12 Rail Services Passenger Services.................................................... 16 Freight Services.......................................................... 20 Track Construction and Maintenance ............................. 24 Road Services................................................................ 28 Catering Services ........................................................... 30 Human Resources.......................................................... 34 Safety............................................................................. 36 The Environment ............................................................ 38 Administration and Management .................................... 40 Report by the Board of Directors.................................... 44 Consolidated Profi t and Loss Account............................ 48 Consolidated Balance Sheet .......................................... 49 Consolidated Cash Flow Statement................................ 50 Parent Company Profi t and Loss Account ...................... 51 Parent Company Balance Sheet..................................... 52 Parent Company Cash Flow Statement.......................... 53 Notes to the Financial Statements .................................. 54 Board´s Proposal on the Disposal of Profi t...................... 66 Auditors´ Report ............................................................. 66 Statement by the Supervisory Board .............................. 67 Statistical Information ..................................................... 68 Glossary......................................................................... 69 4 VR-Group Ltd 2002 VR in Brief Vision Business concept VR’s goal is to be the most successful and safest transport com- VR’s core businesses are transport and track maintenance pany in Finland, developing and providing services throughout services. the country. VR is also the leading railway construction and VR provides safe, high-standard and environmentally friend- maintenance company in Finland. ly transport and related services for freight customers and pas- sengers. For the Finnish state, other public bodies and industrial cor- porations, VR provides professional track design, construction and maintenance services. VR’s goal is to be the most successful and safest transport company in Finland. Values Safety Successful together • We transport passengers and freight safely • When our operations are profi table and meet our customers’ • We prevent environmental risks needs, that is when we are successful • We ensure safety in all situations • We co-operate with openness, mutual respect and • We continuously work towards improving safety and a commitment to achieving our goals punctuality • Dynamism, expertise and innovation are the keys to our success Satisfi ed customers Responsibility • We work for the good of our customers • Each employee is responsible for the results and quality • We provide high-quality services that are easily available of their own work • We collaborate with customers in improving our services • Our work is based on honesty and trust • We also value our customers within VR • We recognize our responsibility to the environment 5 The VR Group Rail services Track construction and maintenance • VR Ltd, the Group’s largest company, is Finland’s leading • VR-Track Ltd provides track design, construction and freight and passenger carrier. maintenance services for the Finnish government, local authorities, ports, industrial companies using the rail • The company carries over 41 million tonnes of freight by network, and other main contractors in rail maintenance rail every year. Most of VR Cargo’s carryings comprise raw projects. materials and products of Finland’s forest, chemical and metal industries. International carryings account for 40 % • Roughly 90 % of annual net turnover comes from contracts of total freight transport. commissioned by the Finnish Rail Administration, which is responsible for managing the Finnish rail network. • Some 58 million passenger journeys are made every year, most of them commuter journeys in the Helsinki metropo- • Annual net turnover totals EUR 231.8 million with 2,700 litan area. VR provides an average of 260 long-distance ser- employees. vices and 850 commuter services every day. Six daily train services operate between Finland and Russia. • Rail services generate annual net turnover of EUR 618.0 mil- lion. This comprises EUR 330.0 million from freight services and EUR 288.0 million from passenger services. • Personnel totals 8,800. 6 VR-Group Ltd 2002 Road services Catering services IT services • Pohjolan Liikenne is a subgroup of • Avecra Oy provides supplementary • Corenet Ltd provides telecommuni- VR Ltd that provides supplementary catering services for VR’s passenger cations services for VR’s rail transport road services. It has a strong position transport operations. operations and develops specialized in Finland’s road transport sector. telecommunications systems for • Avecra manages cafés, restaurants transport and logistics needs. The • The group has three freight companies. and kiosks in Finland’s largest railway company’s minority shareholder is Transpoint Oy Ab is a national carrier stations and on long-distance train Song Networks Ltd. of general cargo. Combitrans Oy services. It has 20 service points in handles partial and full-load carryings. stations, plus daily catering services • IT Solicom Ltd provides specialized Oy Transuotila Ab specializes in bulk in some 130 trains. The company’s IT systems and services for the trans- transportation using tanker wagons. minority shareholder is the Swiss port sector. The company’s minority Together, these companies carry company Rail Gourmet Holding AG. shareholder is Novo Group Plc. approximately 8 million tonnes of freight every year. • Catering services generate annual net turnover of EUR 27.7 million. • Oy Pohjolan Henkilöliikenne Ab and its subsidiary Oy Pohjolan Kaupunki- • Personnel totals 430. liikenne Ab transport 15 million passengers by coach and bus every year. • Road services generate annual net turnover of EUR 195.7 million. This comprises EUR 160.4 million from freight services and EUR 35.3 million from passenger services. • Personnel totals 1,900. Net turnover by business Personnel by business Rail services 54 % Rail services 61 % Track construction and Track construction and maintenance 20 % maintenance 19 % Road services 17 % Road services 13 % Catering services 3 % Catering services 3 % Other 6 % Other 4 % 7 VR Group Structure VR Group comprises 21 different companies. The Group’s parent company is VR-Group Ltd, which provides administrative and real estate services to the other Group companies. VR Group’s subsidiaries are VR Ltd, VR-Track Ltd, IT Solicom Ltd and Corenet Ltd. VR Ltd has two subsidiaries: Oy Pohjolan Liikenne Ab and Avecra Oy. Pohjolan Liikenne is a group of companies that provides freight