Irish Rail Annual Report 2014

[Jamie2k9]

http://www.irishrail.ie/media/iarnrod-eireann-annual-report-2014.pdf?v=gradkca

Losses cut from 16.4 to 2.2 million. Quiet impressed!

[James Howard]

While it's good to see the bleeding somewhat staunched, this is on the back of another huge fare hike for regular commuters. It's interesting to see them going on about a 12% increase in TaxSaver revenue, when close to 10% of that came from a fare increase. 2% increase in use is hardly impressive in the light of the economic recovery and general employment growth in the Greater Dublin area.

Also interesting is the list of uncertainties. It would be nice to know what the assumptions are regarding "increases in nominal fares" and particularly on the continued targeting of regular commuters for above average increases. On the Longford commuter service, a non TaxSaver monthly ticket is now as expensive as travelling four days a week on day returns.

1. Revenue – The achievement of the revenue growth targets set out in the Group’s draft 5-year business plans are based on a combination of assumptions related to increases in nominal fares and increases in passenger
journeys. The capacity of the Group to secure the fare increases assumed in the plans is principally dependent on fare determinations by the National Transport Authority (NTA) and increases in passenger journeys is dependent on sustained economic recovery.