The COVID-19 crisis has a significant impact on NS's financial performance. NS posted revenues of €6,601 million in 2020 (2019: €6,661 million). This amount includes a compensation of €2,367 million paid by the UK and German governments to keep our trains running despite the significant drop in passenger numbers due to the COVID-19 crisis.
Last year, NS invested €548 million, mainly in the procurement of new trains and upgrades of existing trains. NS posted a negative result from operating activities of -€2,443 million (2019: €287 million), with an associated net loss for 2020 of -€2,581 million (2019: €215 million). The result from operating activities includes an exceptional loss due to an impairment and a provision for onerous contracts of €2,232 million as a result of deteriorated business prospects caused by the impact of COVID-19 on the rail sector.
(in millions of euros) | 2020 | 2019 |
Revenue | 6,601 | 6,661 |
Result from operating activities before impairments and provision for onerous contracts | -111 | 287 |
Impairments and provision for onerous contracts | -2,332 | 0 |
Result from operating activities after impairment and provision for onerous contracts | -2,443 | 287 |
Net financing result | -21 | -51 |
Result before income tax | -2,464 | 236 |
Income tax | -117 | -21 |
Result for the reporting period | -2,581 | 215 |
Minority interests | -203 | -7 |
Result attributable to the shareholder | -2,378 | 208 |