MTR Corporation records strong global growth during 2015
14 March 2016 • Author: Katie Sadler, Digital Content Producer, European Railway Review
Rail operator MTR Corporation has announced full-year results for 2015, revealing strong results globally with growth prevalent the UK and Europe.
MTR is a global operator of metro, commuter and airport rail systems. It is also an international consulting business and property developer, and manages shopping malls, retail units, apartments and other major buildings along some of its lines.
Full-year results for MTR saw revenue grow by 3.8 percent to £3.62 billion (HK$41.7 billion), and post-tax underlying profits reach £948 million (HK$10.9 billion), down 5.9 percent compared to the previous year. According to MTR, the fall was due to lower Hong Kong property development profits.
2015 was an important year for MTR, with major growth witnessed in the European market. The operator’s European projects have included:
- Launch of a brand new open access intercity service, MTR Express, between Stockholm and Gothenburg in March 2015
- London Overground, which is operated by MTR-Arriva joint venture LOROL, took on extra routes and services on 31 May 2015, with longer trains introduced on existing routes
- MTR began running TfL Rail-branded services between Liverpool St and Shenfield from May 2015, as the first part of the Crossrail concession
- MTR Nordic was awarded the concession to operate Stockholm Commuter Rail Service (Stockholm Pendeltåg) for a period of ten-years from December 2016
In addition, Stockholm County Council extended the concession of MTR Stockholm to operate the city’s metro system for another six years, from 2017 to 2023.
MTR Corporation is investing in PPPs in Australia and China
Elsewhere, the operator is currently investing in new and extended rail lines via public private partnerships in Australia and China. It is also delivering four major projects in Hong Kong – alongside running high performing railways in all of these locations.
“2016 will be another important year of growth in our European operations”
Jeremy Long, CEO of MTR Europe, said: “MTR delivers world-class services for its passengers, and our 2015 results reflect that.
“In Europe, we have taken the first steps towards full Crossrail Services, have continued to deliver improvements to the London Overground, and have successfully launched a full intercity service between Stockholm and Gothenburg.
“2016 will be another important year of growth in our European operations as we continue our work towards Crossrail services and prepare to take over the Stockholm Pendeltåg concession in December.
“We’re working as hard as ever to deliver the very high levels of punctuality and passenger satisfaction people expect from all MTR services.”