Abellio started operating the East Midlands Railway franchise from 18th August 2019. The franchise includes long distance intercity services, linking London St Pancras International with the towns and cities of the East Midlands as well as regional services across the East Midlands, northern and central England.
On 19th August, the main launch event was held at The Roundhouse in Derby, the world's first and oldest surviving railway house and was attended by over 100 guests, reflecting the important role the railway plays in the economic prosperity of Derby and the wider East Midlands region. Further launch events were also held in Sheffield, Leicester, Nottingham and London St Pancras International.
The East Midlands franchise runs until August 2027 with a further two-year extension possible at the discretion of the Department for Transport. During this time, East Midlands Railway will deliver over £600 million of major improvements, which includes introducing brand new Hitachi bi-mode trains on the Midland Main Line. Further investment will be done to improve stations, expanded use of smart and flexible ticketing and more support for local communities.
Financial performance has been solid since the start of the franchise with the company delivering € 16.5m EBIT
East Midlands (in € million) | 2019 | 2018 |
Revenue | 193.1 | - |
EBIT before IFRS 16 effect | 16.1 | - |
IFRS 16 effect | 0.4 | - |
EBIT | 16.5 | - |
Intercompany financial result* | -0.5 | - |
Other financial results | -0.6 | - |
Profit before tax | 15.4 | - |
Corporation tax | -2.9 | - |
Net profit | 12.5 | - |
Net profit before IFRS 16 impact | 12.7 | - |
Capital investments | 11.2 | - |
- | ||
Equity attributable to NS | 7.5 | - |
PCS guarantees provided by NS | 132.8 | - |
Other guarantees provided by NS | 21.3 | - |
Capital at Risk, East Midlands | 161.6 | - |
- | ||
PCS guarantees called on | - | - |
Other guarantees called on | 21.3 | - |
- * Intercompany financial result consists of interest on shareholder loans and guarantee fees