Finance

Unit 2013 2014 2015 2016 2017 Δ%
 
Income statement
 
Operating income
CHF m 8,442 8,664 8,786 8,988 9,442 5.1

Operating income

Revenue in 2017 was CHF 8,259 million (operating income minus retained earnings; previous year: CHF 7,890 million, +4.7 per cent).
Traffic revenue
CHF m 3,961 4,042 4,109 4,146 4,280 3.2

Traffic revenue

Passenger revenues
CHF m 2,996 3,045 3,155 3,165 3,316 4.8

Passenger revenues

Passenger revenues grew due to the fare adjustments in late 2016, which alleviated the impact of the train-path price rise, the active market cultivation strategy with corresponding growth in GA travelcards and Half-Fare travelcards as well as improvements in international passenger services.
Long-Distance Services
CHF m 2,260 2,258 2,340 2,319 2,428 4.7

Long-Distance Services

Regional Services
CHF m 736 787 814 846 888 4.9

Regional Services

Freight revenues
CHF m 820 866 822 851 838 -1.5

Freight revenues

Operating services revenue
CHF m 57 47 44 48 39 -18.4

Operating services revenue

Revenue from infrastructure use
CHF m 88 84 88 82 87 5.6

Revenue from infrastructure use

Public-sector funding
CHF m 2,172 2,249 2,291 2,466 2,666 8.1

Public-sector funding

Only payments reflected in income statement.
Contributions to the rail infrastructure
CHF m 1,557 1,637 1,670 1,826 2,030 11.2

Contributions to the rail infrastructure

Grants for regional passenger services
CHF m 591 587 602 624 622 -0.3

Grants for regional passenger services

Grants for freight traffic
CHF m 24 25 19 16 13 -17.8

Grants for freight traffic

Rental income from real estate
CHF m 402 424 440 458 487 6.2

Rental income from real estate

Other income
CHF m 861 858 830 820 827 0.8

Other income

Own work capitalised
CHF m 1,046 1,091 1,116 1,098 1,183 7.8

Own work capitalised

Operating expenses
CHF m -8,132 -8,350 -8,479 -8,700 -8,941 -2.8

Operating expenses

Personnel expenses
CHF m -3,966 -4,041 -4,121 -4,168 -4,213 -1.1

Personnel expenses

Cost of materials
CHF m -753 -751 -751 -721 -747 -3.7

Cost of materials

Other operating expenses
CHF m -1,667 -1,704 -1,667 -1,681 -1,755 -4.4

Other operating expenses

Depreciation
CHF m -1,746 -1,854 -1,940 -2,130 -2,226 -4.5

Depreciation

Depreciation of tangible assets
CHF m -1,644 -1,736 -1,812 -1,984 -2,066 -4.1

Depreciation of tangible assets

Depreciation of intangible assets
CHF m -102 -118 -128 -146 -160 -9.6

Depreciation of intangible assets

Operating result/EBIT before write-down
CHF m 309 314 307 288 501 73.9

Operating result/EBIT before write-down

Write-down
CHF m 0 0 0 0 -189

Write-down

Owing to the decline for structural reasons, in particular in wagonload freight, and the expected development, a write-down of CHF 188.7 million has been recorded for SBB Cargo Switzerland.
Operating result/EBIT
CHF m 309 314 307 288 313 8.5

Operating result/EBIT

Financial result
CHF m -145 -133 -198 -120 -104 13.5

Financial result

Financial income
CHF m [57] [54] 12 27 22 -17.1

Financial income

Financial expenses
CHF m [-202] [-186] -210 -147 -126 14.2

Financial expenses

Profit from real estate sales
CHF m 81 190 142 225 207 -7.8

Profit from real estate sales

Income taxes
CHF m -3 5 -5 -10 -11 -10.9

Income taxes

Minority interests
CHF m -3 -4 0 -3 -6 -142.5

Minority interests

Consolidated result
CHF m 238 373 246 381 399 4.8

Consolidated result

The earnings contribution for areas entitled to public-sector funding is earmarked and is credited in full to the corresponding reserves for the future in accordance with the legal requirements.
 
Balance sheet
 
Assets
CHF m 36,274 37,867 39,258 44,039 45,174 2.6

Assets

Current assets
CHF m 1,972 2,208 1,709 1,794 1,963 9.4

Current assets

Fixed assets
CHF m 34,302 35,660 37,549 42,245 43,211 2.3

Fixed assets

Financial assets
CHF m 523 496 485 386 403 4.4

Financial assets

Property, plant and equipment
CHF m 26,074 27,237 28,224 32,827 33,234 1.2

Property, plant and equipment

Assets under construction
CHF m 6,872 7,039 7,878 8,039 8,604 7.0

Assets under construction

Intangible assets
CHF m 833 888 963 993 969 -2.4

Intangible assets

Equity and liabilities
CHF m 36,274 37,867 39,258 44,039 45,174 2.6

Equity and liabilities

Equity, incl. minority interests
CHF m 11,004 11,378 11,623 12,005 12,412 3.4

Equity, incl. minority interests

Public loans (Federal and cantonal)
CHF m 12,399 13,261 14,278 18,932 19,563 3.3

Public loans (Federal and cantonal)

Interest-bearing debt
CHF m 8,102 8,600 8,792 9,199 9,022 -1.9

Interest-bearing debt

Other foreign capital
CHF m 4,770 4,629 4,565 3,903 4,177 7.0

Other foreign capital

 
Free cash flow
Free cash flow relates to the financial resources readily available to the company after all expenses within the financial year, i.e. the net inflow of liquidity.
Total cash flow
CHF m -216 286 -340 -137 212 254.9

Total cash flow

Cash flow from financing for commercial investments and pension fund restructuring
CHF m 437 492 183 402 -184 -145.7

Cash flow from financing for commercial investments and pension fund restructuring

Free cash flow after public-sector financing of rail infrastructure
CHF m -653 -205 -523 -540 396 173.4

Free cash flow after public-sector financing of rail infrastructure

Cash flow from public-sector financing of rail infrastructure
CHF m 1,819 1,885 2,073 2,142 1,950 -9.0

Cash flow from public-sector financing of rail infrastructure

Free cash flow before public-sector financing of rail infrastructure
CHF m -2,472 -2,090 -2,596 -2,682 -1,553 42.1

Free cash flow before public-sector financing of rail infrastructure

Cash flow from investing activities
CHF m -3,369 -3,003 -3,398 -2,860 -3,169 -10.8

Cash flow from investing activities

Cash flow from operating activities
CHF m 897 913 802 178 1,616 807.3

Cash flow from operating activities

 
Public-sector funding
 
Total public-sector funding
CHF m 3,263 3,208 3,388 13,150 3,371 -74.4

Total public-sector funding

In 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million. At the same time, investments in excavating the Gotthard Base Tunnel in the amount of CHF 5,944.1 million were financed by public investment subsidies (non-repayable contributions).
Payments reflected in income statement
CHF m 2,172 2,249 2,291 2,466 2,666 8.1

Payments reflected in income statement

Contributions to the rail infrastructure
CHF m 1,557 1,637 1,670 1,826 2,030 11.2

Contributions to the rail infrastructure

Grants for regional passenger services
CHF m 591 587 602 624 622 -0.3

Grants for regional passenger services

Grants for freight traffic
CHF m 24 25 19 16 13 -17.8

Grants for freight traffic

Increase in loans, non-repayable contributions
CHF m 1,091 959 1,097 10,684 705 -93.4

Increase in loans, non-repayable contributions

In 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million. At the same time, investments in excavating the Gotthard Base Tunnel in the amount of CHF 5,944.1 million were financed by public investment subsidies (non-repayable contributions).
Increase in loans for financing of rail infrastructure
CHF m 963 862 1,017 4,655 631 -86.5

Increase in loans for financing of rail infrastructure

In 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million. At the same time, investments in excavating the Gotthard Base Tunnel in the amount of CHF 5,944.1 million were financed by public investment subsidies (non-repayable contributions).
Non-repayable contributions to investments
CHF m 128 97 80 6,029 74 -98.8

Non-repayable contributions to investments

in 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million. At the same time, investments in excavating the Gotthard Base Tunnel in the amount of CHF 5,944.1 million were financed by public investment subsidies (non-repayable contributions).
 
Investment
 
Investment reflected in the balance sheet
CHF m 3,562 3,462 3,596 6,955 3,539 -49.1

Investment reflected in the balance sheet

Passenger services
CHF m 1,016 848 828 578 722 24.9

Passenger services

Real Estate
CHF m 469 458 551 554 683 23.2

Real Estate

Freight services
CHF m 31 16 28 18 30 65.7

Freight services

Infrastructure
CHF m 2,006 2,084 2,140 5,771 2,075 -64.0

Infrastructure

In 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million.
Network
CHF m 1,888 1,963 2,018 5,693 1,998 -64.9

Network

In 2016, SBB took over the Gotthard Base Tunnel from AlpTransit Gotthard AG. This increased fixed assets and public-sector loans for financing rail infrastructure by CHF 3,754.5 million.
Energy
CHF m 118 122 123 79 77 -2.4

Energy

Other
CHF m 40 56 49 33 29 -13.6

Other

 
SBB as a purchaser
 
Purchasing volume
CHF m 5,227 4,957 4,797 4,509 4,911 8.9

Purchasing volume

Proportion of suppliers based in Switzerland
% 89.9 87.9 86.7 89.0 87.5 -1.5

Proportion of suppliers based in Switzerland

Suppliers
number 16,191 15,894 15,775 15,237 14,838 -2.6

Suppliers

Only suppliers with a purchasing volume of more than CHF 2,000 were taken into account.
Proportion of suppliers based in Switzerland
% 92.6 92.1 91.9 92.0 91.1 -0.9

Proportion of suppliers based in Switzerland

Only suppliers with a purchasing volume of more than CHF 2,000 were taken into account.