That’s what Magnus Rosen, CEO of the bus company, told Nyhetsbyrån Direkt after Friday’s report for the fourth quarter of the 2020/2021 fiscal year.
Nubina lost about half of the passengers on public transport during the epidemic. At the same time, the company changed its operations to Samtrans to conduct a circulating coronavirus test and now also vaccination. The change was a factor contributing to Nobina issuing two positive earnings warnings during the year.
‘The transition that must be addressed’
Magnus Rosén says testing activity has been a “hedge” for the company against a drop in travel, but as the vaccination program comes into effect, testing activity is expected to decrease and public transportation to normal levels. For Nobina, there is a challenge this year to deal with this shift, and the question is whether the two revenue curves will converge without a score in revenue and profitability?
“It is, of course, our hope. I think both will take a long time and that the influx of passengers will take some time, after the epidemic subsides, we will probably have six, maybe even twelve months, before we get back to the normal level again, and I think the test will continue. Good next year, ”says the CEO, who has stated that he has good self-confidence for the company to be able to handle the transition, but nonetheless there is a transition that has to be dealt with.
Hinders dividend distribution
Despite the fact that the company has clearly managed the good epidemic epidemic, the operating profit for the whole year increased by 15 percent, the company chose to withhold dividends and used only 63 percent of the dividend policy. For the whole year, the owners took in 3.77 SEK per share, while analysts calculated 4.66 SEK.
“The main thing is that we are in a pandemic and that we have 50 percent of the riders in the buses. But then, we see opportunities for possession around us, because it is far from everyone who achieved the result that we achieved, hence the assessment that we made,” says Magnus. Rosen.
Earlier in March, the company came with advance notice of both adjusted earnings before taxes and sales. Despite the fact that the end result was within the stated range, investors responded by trading the stock by roughly 2 percent in the initial half-hour trade on the reporting day.