Abellio London Bus (UK Bus) was acquired in 2009. UK Bus employs over 2,500 staff and runs 790 buses on 52 London routes as at year end 2019. This represents around 9% market share and is expected to grow as more services are won from a new depot in Southall, West London.
Abellio also operates two complementary bus services; Abellio Rail Replacement (ARR) and Event Connect. ARR provides bus services to the Greater Anglia, ScotRail, East Midlands and West Midlands franchises and to Serco’s Caledonian Sleeper franchise in the event of planned and unplanned disruption. Event Connect provides bus services to events, such as major sporting events or corporate functions. This included the Solheim Cup in 2019 – a major international Golf tournament hosted in Scotland.
UK Bus continues to deliver solid financial performance, with an EBIT of € 11.1m.
Abellio London Bus (in € million) | 2019 | 2018 |
Revenue | 223.1 | 219.3 |
EBIT before IFRS 16 effect | 9.2 | 7.7 |
IFRS 16 effect | 1.9 | - |
EBIT | 11.1 | 7.7 |
Other financial results | -1.9 | 0.1 |
Profit before tax | 9.2 | 7.8 |
Corporation tax | -2.8 | -0.9 |
Net profit | 6.4 | 6.9 |
Net profit before IFRS 16 impact | 6.8 | 6.9 |
Capital investments | 5.6 | 1.0 |
Equity attributable to NS | 21.8 | 34.4 |
Capital at Risk, Abellio London Bus | 21.8 | 34.4 |