Annual Report 2015 Metro selskabet I/S Annual Report 2015 Content Contents Foreword 5 Financial Highlights 7 2015 in Brief 8 Operations – current passengers 10 Thereʼs always another metro train coming 12 Stronger initiatives to improve the passenger experience 18 Social responsibility in operating the metro 21 Construction – future passengers 24 City ringen 26 Nordhavn 32 Sydhavn 34 Social responsibility in constructing the metro 36 About Metro selskabet 42 Company Management 44 Social responsibility in corporate governance 48 Metro selskabetʼs employees 50 The Board of Metro selskabet 54 Executive Management of Metro selskabet 57 Results and expectations 58 Result for the year 62 Annual Accounts 72 Accounting Policies 75 Accounts 81 Management Endorsement 104 The Independent Auditorsʼ Report 106 The English text in this document is an unofficial Appendix to the Directorsʼ Report translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply. Long-Term Budget 111 3 Annual Report 2015 Foreword Dear reader, In many ways, 2015 was a significant year. In total, more than 57 million passengers took the metro, which was over 1 million passengers more than in 2014. 2015 was also characterised by the adverse aspects of the implementation of major infrastructure im- provement projects. We completed the installation of platform doors at the many overground metro stations. The major construction projects at Nørreport were also completed, so that passengers can now transfer easily and effectively between bus, train and metro at Denmarkʼs largest traffic hub. The platform doors at all metro stations ensure pas- sengers even more stable operation, more departures during rush-hour periods, and stations that offer better shelter from the wind and adverse weather conditions. 2015 was thus a year with record-high operational reliability. 98.8 per cent of the around 13,000 departures in the course of a 24-hour day ran according to plan. In rush-hour periods, when the metro is used by most people, 98.2 per cent of the trains ran on time. 2015 was also the year that the construction of City- ringen, in particular, made significant progress, with several project milestones being reached during the year. The year began with a double station breakthrough at Copen hagen Central Station. The tunnel boring In 2015 the work on the automatic platform doors at overground stations was completed. Here, the final result at Ørestad Station can be seen. 5 Annual Report 2015 Foreword Annual Report 2015 Financial Highlights Summary of Financial Highlights machines Minerva and Eva broke through the wall to Passenger numbers the new metro station, watched by the Danish Prime Million passengers Minister and representatives of the companyʼs owners. 65 60 Before 2015 was over, half of City ringenʼs just over 30 55 kilometres of tunnels had been constructed. The Mayor 50 of Copen hagen celebrated this with a walk along the 45 40 newly built metro tunnel under Østerbro. All of the metro 35 stations have now been fully excavated, and the first 30 25 nine of City ringenʼs metro trains have arrived at the 2008 2009 2010 2011 2012 2013 2014 2015 Control and Maintenance Centre in Sydhavn, where they will be tested before their trial runs of the capitalʼs new metro system. Result before depreciation and write-downs Budgeted result before depreciation and write-downs DKK million Result before depreciation and write-downs Other Metro selskabet construction projects also made 300 good progress in 2015. In Nordhavn, preparations were 250 made for the tunnel boring machines to be sent down 200 under Østerbro up to the Sortedam Lake. The branch 150 from City ringen to Nordhavn will later be extended with 100 a branch to Sydhavn, and in 2015 an Environmental 50 Impact Assessment (EIA) was therefore undertaken of 0 2008 2009 2010 2011 2012 2013 2014 2015 the metro line to Sydhavn. This Annual Report presents a detailed account of Metro selskabetʼs activities in 2015. Operational stability % Objective Result Rush-hour periods 98.8 98.6 98.6 98.4 98.6 98.7 98.8 We hope that you enjoy reading the report. 98.8 98.4 98.2 98.6 98.3 98.3 98.4 98.1 98.2 Henning Christophersen Henrik Plougmann Olsen 98.2 98.0 Chairman of the Board CEO 97.8 97.8 97.6 97.4 97.2 97.3 97.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6 7 2015 in brief We have received 98.8% of the 39 train sets for City ringen 9 of trains departed on time in 2015. 98.2% during rush-hour periods. In 2015 we had 57,200,000 Passenger revenue 743 passengers. million Long-term budget (DKK million) Realised This is an increase of fare revenue 1.2 million from last 715 3,288 year. million 0 Revised -27,743 budgeted fare revenue 0 2014 2015 2007 2029 2065 In 2015 we had 2015 13% Investments Nordhavn 345,605 8% visitors to our viewing platforms Sydhavn In 2015 we had 50,962 visitors to our construction sites 77% 2% City ringen Metro in operation In December 2015, the tunnel boring machines reached halfway in the excavation of City ringen. Operations Current passengers Metro trains on time in 2015* * 98.2% during rush-hour periods Annual Report 2015 Operations – current passengers Annual Report 2015 Operations – current passengers Thereʼs always another “A record year for the metro, with Metro train on the way 98.8 per cent of departures on time.” The metro is part of the public transport more passengers. The metro achieved system for people who live in, or visit, the record-high operational stability in 2015, capital. The metroʼs task is to carry pas- with 98.8 per cent of all departures run- sengers quickly and safely around the ning on time. city. This operational stability is vital to ensuring that passengers can confidently Stable operation is especially important take the metro to work, without having during rush-hour periods, when the metro to worry about arriving late. Operational has most passengers. In 2015, operational stability is thus vital to ensuring a good stability of 98.2 per cent was achieved in travel experience, and thereby attracting rush-hour periods. The Flintholm Station traffic hub is where buses, S-trains and metro trains intersect. New platform doors are A good travel experience optimising operations In cooperation with the metroʼs operator, The installation of automatic platform Metro selskabet works to ensure custom- doors at all overground stations was com- ers the best possible travel experience. pleted during 2015, with an immediate Special focus areas in 2015 were the three positive effect on metro operations. The most-used stations during rush-hour pe- new platform doors have made it possible riods: Nørreport, Kongens Nytorv and to increase the departure frequency by Christianshavn. These stations are staffed adding additional train sets during rush- with stewards, who serve as guides during hour periods. Passenger capacity can be rush-hour periods. Passenger information increased by around 20 per cent, with has been improved, and behaviour-man- more stable operation. This has resulted agement campaigns help to optimise pas- in a record year, with 98.8 per cent of de- sengers flows, for instance when entering partures on time. and leaving the trains. 12 13 Annual Report 2015 Operations – current passengers Annual Report 2015 Operations – current passengers Users have switched from cardboard multi-trip tickets to the Record-high passenger Three times the number of following ticket types numbers active Rejsekort % Adult Child More than 57.2 100 “ 2015 was a record year for the metroʼs pas- During the first half of 2015 we said million people took senger numbers since it opened in 2002. farewell to a well-known element of the 80 More than 57.2 million people took the capitalʼs public transport system, namely , 60 the metro in 2015 metro in 2015, which is 1.2 million more the “cardboard” multi-trip ticket. In Feb- which is 1.2 million than in 2014. This implies that in 2015 the ruary, the last of these were sold for use 40 metro on average had 100,000 more pas- in the well-known yellow ticket-stamping more passengers sengers per month, compared to 2014. machines, although these multi-trip tick- 20 than in 2014.” ets could still be used until the end of June 0 In the first half of the year, passenger num- 2015. Passengers who still have unused Cash ticket Rejsekort 24-hour ticket Ci Pass Mobile Season ticket bers were affected by the work of install- or partly-used multi-trip tickets can have electronic multi-trip (incl. pensioner's travel card ticket season ticket) ing platform doors at the 12 overground these refunded until 2018. stations, and this activity required major The statistics are provisional and based on incomplete data. Subsequent statistics may deviate considerably. changes to operations. This led to fewer Passengers could also donate unused departures and reduced operational sta- multi-trip tickets to the Børnehjælps- bility, giving lower passenger numbers dagen charity. The result of this campaign than expected at the beginning of the year. exceeded all expectations, and in of the passengers who previously used these new functionalities, an updated and In addition, Nørreport in particular was January 2016, the partners in Din Offent- multi-trip tickets have now acquired the more user-friendly version of the website affected by major construction projects, lige Transport (Your Public Transport) These improvements Rejsekort electronic travel card. This has has also been launched. The aim of the which were all concluded in 2015.