Ferde collected NOK 2.4 billion in the first full-year as a regional toll company

Veronica Solås News

190 million toll road registrations provided an amount of NOK 2 424 million in revenues to Ferde in 2018. A total of 23 toll companies were in 2018 merged into the company, which will finance road projects from Aust-Agder in the south-east, to Sogn and Fjordane in the north-west.

Operating expenses amounted to NOK 268 million, resulting in a cost-to-income ratio of 11 per cent. The cost per toll amounted to NOK 1.41. The cost level were influenced by the purchase and merger of the 23 toll companies, as well as increased costs related to losses from the transition from prepayment to post payment of tolls. The share capital of the merged companies was repaid to the previous owners, which were municipalities and counties.

– Our goal is to collect tolls in the most cost-efficient  way, and to finance road projects at lowest possible cost. In 2018, we have merged the previous toll companies and professionalised the financing, which contributes to reduced interest expenses. On customer care, we still have a lot to gain from harmonisation across the projects, comments Trond Juvik, CEO. Last year the company responded to 141 057 inquiries by telephone and 83 670 by e-mail.

– The goal is to reduce the cost-to-income ratio by 50 per cent within three years. In order to achieve this, we are dependent on transferring responsibility from the Norwegian Public Roads Administration (Statens vegvesen) in the areas in which they are still operational in order for us to be able to gain control of the value chain and benefit from the economies of scale. This means that the regional toll companies will be responsible for all technical equipment, including ICT solutions, which today is largely handled by the Norwegian Public Roads Administration, continues Juvik.

 

Contact:

Marit Husa, Communications Director
marit.husa@ferde.no, cell +47-47 68 55 44

 

See our annual rapport for 2018:

Ferdes annual rapport 2018