Finance

2014 2015 2016 2017 2018 Δ%
 
Income statement
 
Operating income
CHF m 8,664 8,786 8,988 9,442 9,645 2.2

Operating income

Revenue in 2018 was CHF 8,451 million (operating income minus retained earnings; previous year: CHF 8,259 million, +2.3 per cent).
Traffic revenue
CHF m 4,042 4,109 4,146 4,280 4,382 2.4

Traffic revenue

Passenger revenues
CHF m 3,045 3,155 3,165 3,316 3,393 2.3

Passenger revenues

Long-Distance Services
CHF m 2,258 2,340 2,319 2,428 2,483 2.3

Long-Distance Services

Regional Services
CHF m 787 814 846 888 909 2.5

Regional Services

Freight revenues
CHF m 866 822 851 838 868 3.6

Freight revenues

Operating services revenue
CHF m 47 44 48 39 35 -9.8

Operating services revenue

Revenue from infrastructure use
CHF m 84 88 82 87 86 -0.2

Revenue from infrastructure use

Public-sector funding
CHF m 2,249 2,291 2,466 2,666 2,720 2.0

Public-sector funding

Only payments reflected in income statement.
Grants for regional passenger services
CHF m 587 602 624 622 653 5.0

Grants for regional passenger services

Contributions to the rail infrastructure
CHF m 1,637 1,670 1,826 2,030 2,058 1.4

Contributions to the rail infrastructure

Grants for freight traffic
CHF m 25 19 16 13 8 -41.3

Grants for freight traffic

Rental income from real estate
CHF m 424 440 458 487 508 4.5

Rental income from real estate

Other income
CHF m 858 830 820 827 841 1.7

Other income

Own work capitalised
CHF m 1,091 1,116 1,098 1,183 1,194 0.9

Own work capitalised

Operating expenses
CHF m -8,350 -8,479 -8,700 -8,941 -9,059 -1.3

Operating expenses

Cost of materials
CHF m -751 -751 -721 -747 -728 2.5

Cost of materials

Personnel expenses
CHF m -4,041 -4,121 -4,168 -4,213 -4,226 -0.3

Personnel expenses

Other operating expenses
CHF m -1,704 -1,667 -1,681 -1,755 -1,833 -4.5

Other operating expenses

Depreciation
CHF m -1,854 -1,940 -2,130 -2,226 -2,273 -2.1

Depreciation

Depreciation of tangible assets
CHF m -1,736 -1,812 -1,984 -2,066 -2,096 -1.5

Depreciation of tangible assets

Depreciation of intangible assets
CHF m -118 -128 -146 -160 -177 -10.6

Depreciation of intangible assets

Operating result/EBIT before write-down
CHF m 314 307 288 501 586 16.9

Operating result/EBIT before write-down

Write-down
CHF m 0 0 0 -189 0 100.0

Write-down

Operating result/EBIT
CHF m 314 307 288 313 586 87.4

Operating result/EBIT

Financial result
CHF m -133 -198 -120 -104 -105 -1.8

Financial result

Financial income
CHF m [54] 12 27 22 13 -41.0

Financial income

Financial expenses
CHF m [-186] -210 -147 -126 -119 5.7

Financial expenses

Profit from real estate sales
CHF m 190 142 225 207 107 -48.4

Profit from real estate sales

Up to 2016: Non-operating result.
Income taxes
CHF m 5 -5 -10 -11 -13 -13.5

Income taxes

Minority interests
CHF m -4 0 -3 -6 -6 -1.1

Minority interests

Consolidated result
CHF m 373 246 381 399 568 42.5

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 37,867 39,258 44,039 45,174 46,565 3.1

Assets

Current assets
CHF m 2,208 1,709 1,794 1,963 2,063 5.1

Current assets

Fixed assets
CHF m 35,660 37,549 42,245 43,211 44,502 3.0

Fixed assets

Financial assets
CHF m 496 485 386 403 431 6.9

Financial assets

Property, plant and equipment
CHF m 27,237 28,224 32,827 33,234 33,671 1.3

Property, plant and equipment

Assets under construction
CHF m 7,039 7,878 8,039 8,604 9,421 9.5

Assets under construction

Intangible assets
CHF m 888 963 993 969 978 0.9

Intangible assets

Equity and liabilities
CHF m 37,867 39,258 44,039 45,174 46,565 3.1

Equity and liabilities

Public loans (Federal and cantonal)
CHF m 13,261 14,278 18,932 19,563 20,251 3.5

Public loans (Federal and cantonal)

Interest-bearing debt
CHF m 8,600 8,792 9,199 9,022 9,279 2.9

Interest-bearing debt

Net interest-bearing debt was CHF 8.62 billion, previous year: CHF 8.41 billion, +2.5 per cent.
Other foreign capital
CHF m 4,629 4,565 3,903 4,177 4,050 -3.0

Other foreign capital

Equity, incl. minority interests
CHF m 11,378 11,623 12,005 12,412 12,985 4.6

Equity, incl. minority interests

 
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 286 -340 -137 212 42 -80.3

Total cash flow

Cash flow from financing for commercial investments and pension fund restructuring
CHF m 492 183 402 -184 257 239.6

Cash flow from financing for commercial investments and pension fund restructuring

Free cash flow after public-sector financing of rail infrastructure
CHF m -205 -523 -540 396 -215 -154.2

Free cash flow after public-sector financing of rail infrastructure

Cash flow from public-sector financing of rail infrastructure
CHF m 1,885 2,073 2,142 1,950 2,012 3.2

Cash flow from public-sector financing of rail infrastructure

Free cash flow before public-sector financing of rail infrastructure
CHF m -2,090 -2,596 -2,682 -1,553 -2,227 -43.4

Free cash flow before public-sector financing of rail infrastructure

Cash flow from investing activities
CHF m -3,003 -3,398 -2,860 -3,169 -3,445 -8.7

Cash flow from investing activities

Cash flow from operating activities
CHF m 913 802 178 1,616 1,218 -24.6

Cash flow from operating activities

 
Public-sector funding
 
Total public-sector funding
CHF m 3,208 3,388 13,150 3,371 3,466 2.8

Total public-sector funding

Payments reflected in income statement
CHF m 2,249 2,291 2,466 2,666 2,720 2.0

Payments reflected in income statement

Contributions to the rail infrastructure
CHF m 1,637 1,670 1,826 2,030 2,058 1.4

Contributions to the rail infrastructure

Grants for regional passenger services
CHF m 587 602 624 622 653 5.0

Grants for regional passenger services

Grants for freight traffic
CHF m 25 19 16 13 8 -41.3

Grants for freight traffic

Increase in loans, non-repayable contributions
CHF m 959 1,097 10,684 705 746 5.8

Increase in loans, non-repayable contributions

Increase in loans for financing of rail infrastructure
CHF m 862 1,017 4,655 631 688 9.1

Increase in loans for financing of rail infrastructure

Non-repayable contributions to investments
CHF m 97 80 6,029 74 58 -21.6

Non-repayable contributions to investments

 
Investment
 
Investment reflected in the balance sheet
CHF m 3,462 3,596 6,955 3,539 3,564 0.7

Investment reflected in the balance sheet

Passenger services
CHF m 848 828 578 722 750 4.0

Passenger services

Real Estate
CHF m 458 551 554 683 619 -9.5

Real Estate

Freight services
CHF m 16 28 18 30 34 10.6

Freight services

Infrastructure
CHF m 2,084 2,140 5,771 2,075 2,138 3.1

Infrastructure

Network
CHF m 1,963 2,018 5,693 1,998 2,029 1.5

Network

Energy
CHF m 122 123 79 77 110 42.7

Energy

Other
CHF m 56 49 33 29 23 -20.3

Other

 
SBB as a purchaser
 
Purchasing volume
CHF m 4,957 4,797 4,509 4,911 5,223 6.3

Purchasing volume

Proportion of suppliers based in Switzerland
% 87.9 86.7 89.0 87.5 87.5 0.1

Proportion of suppliers based in Switzerland

Suppliers
number 15,894 15,775 15,237 14,838 14,808 -0.2

Suppliers

Only suppliers with a purchasing volume of more than CHF 2,000 were taken into account.
Proportion of suppliers based in Switzerland
% 92.1 91.9 92.0 91.1 90.7 -0.4

Proportion of suppliers based in Switzerland

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