Arriva sees earnings rise by £20million

An Arriva bus
An Arriva bus
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Wearside transport firm Arriva saw pre-tax earnings jump by more than £20million last year.

The Doxford International-based firm saw earnings before interest, taxes, depreciation, and amortization (EBITDA) rise to 525million Euros (£414.75million) from 498million Euros (£393.42million) in the 12 months to December 31 2015, a rise of 5.4%.

Revenues were up even more sharply, rising from 4.491billion Euros (£3.547billion) to 4.843billion Euros (£3.825billion), a jump of 7.8%.

Chief executive Manfred Rudhart said: “We delivered growth throughout 2015 and continued to invest back into the business.

“Arriva’s proven strategy continues to be successful, as highlighted by another positive year of EBITDA and revenue growth.

“In our UK Trains business we were delighted to be awarded the Northern rail franchise last December. We are ready to begin the contract on April 1 and start our journey to deliver a step change in quality for customers.

“Our other UK train operating companies have each performed well with high satisfaction scores from customers, Chiltern Railways opening the first new rail line from a British city to London in more than 100 years, and national recognition for Arriva Trains Wales, CrossCountry and Chiltern.

“In UK Bus we have strengthened our senior management team, helping to deliver benefits for customers through meaningful partnerships with local authorities, innovative ticketing solutions, and the latest smartphone technology.”