January–December 2020
- The Group’s revenue totalled EUR 182.4 (221.9) million
- The operating loss was EUR -8.0 (21.3) million
- The operating result was burdened by the unprecedented reduction in air traffic resulting from the coronavirus pandemic, which impacted income from air navigation
- The pandemic had only a minor impact on profits from road, rail and vessel traffic control
- Both high safety standards and a good service level were maintained in traffic control in spite of the pandemic
- The efficiency of service provision improved
- There was increased demand for the open traffic data provided by the company
The consolidated revenue of Traffic Management Company Fintraffic totalled EUR 182.4 (221.9) million in 2020. This revenue almost entirely consists of road, rail and vessel traffic control services provided to the Finnish Transport Infrastructure Agency, and air navigation services for airlines and Finavia.
The operating loss was EUR -8.0 (21.3) million. Operating profit as a percentage of revenue was -4.4% (9.6%).
The operating result was loss-making due to travel restrictions arising from the coronavirus pandemic, which led to an unprecedented collapse in flights and a fall in demand for air navigation services. Service demand for road, rail and vessel traffic services remained similar to the previous year, and profitability reached the moderate level set by the company. The company implemented significant adjustment and efficiency-boosting measures in 2020, and was able to provide more services at a lower cost than in the previous year.
“Last year, we provided uninterrupted traffic management services more efficiently than in the previous year. Our service provision costs were significantly lowered by our revised operating methods and increased efficiency, even though both the volume and quality of road, rail and vessel traffic services increased during the period. We have continued to develop our provision of traffic control services, so that we can further improve the safety level, preparedness and quality of our services. Our result for 2020 was loss-making due to the impacts of the coronavirus pandemic and the losses made in air navigation services. Although major adjustments were made in air navigation, these measures were insufficient to cover the lost income. Profitability in road, rail and maritime traffic was at the budgeted level after an exceptionally profitable year in 2019,” says Traffic Management Company Fintraffic’s CEO, Pertti Korhonen.
“We continued to implement our strategy. In addition to safe routine traffic management, our goal is to promote the creation of functional travel chains and smooth, competitive logistics chains. This requires us to increase digitalisation in the transport system, so that data can be cross-utilised between different modes of transport, routes, vehicles, service providers and end customers. One of our key objectives is to work with other operators in the sector to gradually build a real-time digital situational picture of the entire transport system – a digital twin. In order to make traffic data widely and fully available to operators in the sector, we have invited these operators to join us in planning the transport ecosystem as a whole, and also to define common objectives, architecture and operating methods. We will share real-time traffic data and the situational picture with citizens, companies and society as a whole in order to enable safer, more sustainable and lower-emission transport. In 2020, there was a clear increase in demand for the open traffic data we provide. By building the world’s most advanced transport system in Finland, we will support the competitiveness of Finnish transport operators and their ability to succeed internationally,” says Korhonen.
Fintraffic will publish its annual report, corporate responsibility report and Financial Statements in full on Monday, 22 March.
