Pride, sadness and determination

It is with pride we present our financial results for 2015.

Pride from the NSB Group achieving an operating profit of over 2,800 million Norwegian kroner in 2015. This is the best result in the history of the company.

Pride because this is the fourth year in a row with record results for NSB.

Pride because, since 2012, NSB has improved the service offered, has brought 71 new trainsets into service and has increased the number of journeys by 26 % the last four years.

Pride because CargoNet has turned eight years of losses into a healthy surplus, and made freight by rail a profitable operation.

Pride because ROM Eiendom builds attractive housing, offices and industrial buildings, and redesigns old railway property, making improved urban spaces where people like to meet.

Pride because Nettbuss has strengthened its position in the bus market in both Norway and Sweden, and continues to deliver improved results.

Pride because Mantena improves the maintenance of our trains continually, so that trains run much further between each unplanned stoppage.

It is with sadness we acknowledge that the end of the NSB Group in its current form is approaching. After the railway reform NSB will no longer own passenger trains, decide route planning or purchase new rolling stock. Neither will we maintain trains. ROM Eiendom will no longer be part of the Group. Ticket- and sales systems for train travel will not be run by us. We are to compete with other train operators from other countries for contracts to run trains on Norwegian tracks. The government expects this reorganization will create a better and more efficient train operation. We hope that the reorganization succeeds, and that improvements in the future will be at least as great as in preceding years.

It is with a determination to succeed that we embark upon our new role. We realize what is at stake, although the adjustments, especially as regards passenger train operations, are quite extensive. We will do everything possible to ensure that our current customers and all new customers receive an increasingly improved range of services.

Geir Isaksen,



Facts and figures

The NSB Group is a Nordic transport group where passenger transport by train and bus, freight by rail, property and hub development as well as train maintenance constitutes the main business.





The will to succeed

The NSB Group is facing extensive changes in the near future, but even if NSB’s role changes, the social mission will remain the same.  Ability and willingness to meet customers needs will be our prime priority in years to come.



A community partner that adds value

Our main goal is to create value for our owner and society, through ensuring effective, accessible, safe and environmentally friendly transport of people and goods.







72.4 million

67.1 million NSB passengers in Norway (including NSB Gjøvikbanen and Flåmsbanen) and 5.3 million in Sweden (Svenska Tågkompaniet AB)




109.6 million

Norway: 75.3 million / Sweden: 34.2 million




730,000 m2








504,000* tonnes CO2

The NSB Group saves society 504.000 tonnes of CO2 annually. This is the equivalent to the greenhouse gas emissions from 9 per cent of all cars in Norway.
*Increase in CO2 emissions if the transport provided by NSB Group had instead been provided by cars and lorries.


NSB Group

Changes in the railway sector

In Spring 2015 the Norwegian parliament passed the government’s proposal for significant changes to the railway sector in Norway. This railway reform will have major consequences for the NSB Group.

The main changes consist of:

  • // a railway directorate will be established
  • // an infrastructure company will be established
  • // ROM Eiendom will be transferred to the infrastructure company
  • // Mantena will be transferred to the Ministry of Transport and Communications
  • // all rolling stock is to be transferred either to the infrastructure company or to the Ministry of Transport and Communications
  • // current passenger train operations run by NSB AS will be put out to tender in six to eight traffic packages

Passenger train operations

More passengers

The positive trend, with an annual growth rate of about 6 per cent in passenger volume, has continued in 2015. NSB has laid the basis for increased passenger volume in Eastern Norway with new trains and a new route model that better covers passenger needs. On long distance routes, Oslo–Trondheim (Dovrebanen) and Oslo–Bergen (Bergensbanen) show a particularly positive development in passengers carried, with daytime departures showing 6.8 and 7.2 per cent growth respectively.

Satisfied customers

Customers regularly express satisfaction with the services provided by NSB. The customer satisfaction index (CSI) supports this and showed a welcome increase of 3 percentage points, up from the previous year’s figure of 70 to 73.

New trains

In the Norwegian state budget for 2016 NSB was given a residual value guarantee for the purchase of 44 new trains. Delivery is planned starting from 2018 and until 2020 and will ensure rolling stock renewal both in and outside Eastern Norway.

These trains are planned to replace those running on the Bergen-Voss (Vossabanen) and the Oslo-Gjøvik (Gjøvikbanen) lines. Furthermore, some of the new trains will be allocated to Eastern Norway to ensure more double trainsets running during rush hour.

A new contract won by Svenska Tågkompaniet AB

NSB’s subsidiary in Sweden, Svenska Tågkompaniet, is to run regional rail traffic in northern Sweden for the next nine years. Start-up will be 20th August 2016. Svenska Tågkompaniet has selected Euromaint as supplier and partner for the maintenance of these trains – an integral part of this contract.

Every fourth ticket sold by our app

Ticket purchase and e-ticketing using the NSB app are increasingly popular. Today every fourth ticket is sold using the app. More NSB passengers now also choose to use NSB’s entertainment app during their journey, giving them access to audio books, electronic newspapers, podcasts and music.

Bus operations

Nettbuss has secured several important contracts in Sweden and Norway, starting in 2016.

Contracts in Sweden

The county transport authority, Länstrafiken, has awarded Nettbuss the contract to operate bus traffic in Östersund (mid Sweden). The contract is valid for five years from 13th June 2016. The Gothenburg area transport authority, Västtrafik, awarded Nettbuss two contracts, one for local traffic in Fyrbodal and another for two express services in the Gothenburg area (the Red and Purple lines). The contracts run for 10 years commencing on 1st July 2016.

Contracts in Norway

The county transport authority, Hedmark Trafikk, has awarded Nettbuss the Glåmdalen contract. This contract is for ten years from 1st July 2016. Nettbuss also won back bus services in a large part of Sunnmøre (mid Norway) based on two nine-year contracts commencing on 1st January 2016. In addition, Nettbuss were awarded a 10 year contract commencing on 10th October 2016 for Indre Nordmøre (mid Norway), and a seven-year contract commencing on 1st July 2016 for Grenland in southern Norway was recaptured.

Moreover Brakar (Buskerud county) awarded Nettbuss the contract for the bus service between Oslo and Hønefoss. The contract commences on the 1st August 2016 and lasts for six years. Nettbuss was also successful in Jæren and in Dalane, both contracts commencing on 1st July 2016 and lasting for eight years.

Decreasing passenger volume between Sandnes/Stavanger and Bergen resulted in Nettbuss shutting down the route from autumn 2015. The route made a loss initially and passenger growth did not meet expectations. The decline in traffic followed the downturn in oil-related activities worsening during the autumn.


Over a period the business has been through major restructuring to improve results and streamline operations. This has given good results so far and efficiency measures are to continue.

Freight operations

Reorganisation measures

Major changes and restructuring in freight operations  have been introduced giving positive financial and operational effects. Streamlining of operations continues in 2016.

New freight services

CargoNet has established new freight services in 2015. A direct service between Trondheim and Mosjøen to the north has been established, creating transit opportunities to and from the other terminals in CargoNet’s network. In cooperation with DFDS Seaways and North Sea Terminal a direct transport connection has been established between Brevik (on the south coast) and both Bergen and Oslo, with direct links to the Continent and Britain.

Train maintenance

Realignment and reorganisation

Mantena has reorganised its operations to meet increased demands to deliver cost-effective services in a competitive market.

New contracts

Mantena has won contracts with Svenska Jernbanen (SJ) in Sweden for maintenance of SJs own rolling stock starting in 2016, but lost the contract with Botniatåg on the Baltic coast.

Real estate

A new agreement for urban development in Drammen

The Drammen municipality, ROM Eiendom and Jernbaneverket (the railway Infrastructure manager) have agreed to ensure positive urban development on railway properties in Drammen, and have signed a new cooperation agreement for the development of these properties. This means specifically that ROM Eiendom can now go ahead with its hotel plans at Drammen station.

More places to park bicycles

ROM Eiendom has finalised plans for new bicycle parking at Oslo S. This will make an important contribution to facilitate cycling which the city of Oslo emphasises and promotes. Initially, 250 new cycle parking spaces can be built using existing buildings at Oslo S.

Buildings sold

In 2015 the office building in Munkedamsveien 62 in Oslo was completed and sold. The sales agreement for this building was signed even before construction started. The buyer was a consortium of RS Platou and Fabritius AS. Alf Bjerckes vei 30 at Alna in Oslo, which was developed together with Aspelin Ramm Eiendom AS, was sold to Braathen Eiendom. ROM Eiendom AS and Aspelin Ramm Eiendom AS owned 50 % each of this building.

Bestselling housing projects

The apartments at the Grefsen station transport hub in Oslo are Norway’s bestselling housing project. Almost 1200 apartments will be built here altogether, jointly developed with JM Norge. In 2015 155 apartments were sold in this project.

Housing project in Bjørvika

Through Oslo S Utvikling AS, ROM Eiendom participates in developing Bjørvika. Both residential property and commercial properties are being developed. In 2015 the development of residential properties was the main focus, and 57 apartments were sold last year.

Sale of land in Bjørvika

ROM Eiendom has sold its remaining properties in Bjørvika to the part-owned joint venture Oslo S Utvikling AS. In total aproximately 100 000 sq m is to be constructed on the relevant sites, of which about 25 % is commercial and 75 % residential.

The sales price for the land option was 543 MNOK. Estimated net profit for the NSB Group amounts to 285 MNOK.