Revenue was €5,926 million in 2018 compared with €5,121 million in 2017, an increase of 15.7%. Most of this increase, namely €574 million, was due to the start of the West Midlands franchise in the United Kingdom at the end of 2017. 2018 was the first complete year for this franchise.

Revenue in the Netherlands (€3,102 million in 2018, €3,132 million in 2017).

Revenue from rail transport in the Netherlands

The revenue from rail transport increased by 3.5% to €2,527 million (€2,441 million in 2017). If the loss of the Zwolle-Enschede and Zwolle-Kampen franchises (which NS no longer operated in 2018) is taken into account, the increase in revenue is 5.2%. This growth was partly due to the annual price indexation (1.2%) and a growth in volume, i.e. the number of passenger-kilometres (2.4%). There were also increases in revenue during peak periods and from first-class travel, which resulted in higher average revenues. NS achieved higher revenues largely through more revenue from individual journeys in both the social/recreational market and the commuting market (6.0%). There was also an increase in the revenue from the sale of season tickets in the social/recreational market and, in particular, the corporate market. Revenue from the student public transport pass fells slightly for NS due to the loss of the franchises mentioned above; adjusting for that franchise change gives a slight increase (1.0%). The upturn in the economy, growing purchasing power and the marketing campaigns targeting the off-peak hours had a positive impact on revenues. The number of people in employment in the Netherlands (an important factor in peak-hour traffic) grew by 2.2% in 2018.

Revenue from bus transport in the Netherlands

The revenue from bus transport in the Netherlands was zero in 2018 (€129 million in 2017) due to the sale on 31 August 2017 of Qbuzz to Bus Italia.

Revenue from station development and operation in the Netherlands

Revenue from station development and operation in the Netherlands increased by €14 million in 2018 to €576 million. This was due to higher rental income from having the retail formats Hema, Broodzaak and Shakies now operated as a franchise by third parties, and a like-for-like increase in sales for the franchise formats that we operate directly, including Kiosk and AH To Go. The positive economic development and the renovation and redevelopment of a number of stations, including Utrecht Centraal and Rotterdam Centraal, were factors in this growth.

Revenue in the UK (€2,467 million in 2018, €1,743 million in 2017)

Revenue from rail transport in the United Kingdom

The revenue from rail transport in the United Kingdom provided by Abellio increased by 49% in 2018, with organic growth of 10%, when denoted in pounds sterling. When converted into euros, the revenue was €2,267 million, an increase of €721 million on 2017 (€1,546 million). The revenue from the West Midland Trains franchise (€611 million in 2018, €37 million in 2017), which started on 10 December 2017, has been consolidated. The Greater Anglia and ScotRail franchises experienced organic growth of over 10%. The lower average value of the pound in 2018 compared to the average value in 2017 had a negative impact on the revenue when denoted in euros of €23.8 million, which depressed the growth denoted in euros by more than 1%. Merseyrail, the joint venture with Serco in which Abellio has a 50% stake, recorded revenue growth of more than 5% in euros.

Revenue from bus transport in the United Kingdom

Revenue from bus transport in the United Kingdom provided by Abellio rose slightly from €216 million in 2017 to €219 million in 2018. This includes the replacement bus services that are provided by Abellio’s train companies in the United Kingdom in the event of disruptions to the timetabled trains.

Revenue in Germany (€357 million in 2018, €246 million in 2017)

In Germany, Abellio recorded revenues that were €111 million higher than in 2017. Growth came mainly from the full consolidation of WestfalenBahn as of 6 December 2017 due to increasing the shareholding from 25% to 100% (an effect of €86.3 million). The remaining increase in the revenue was largely due to the start of the DISA and RRX franchises on 9 December 2018 (effect of €11.6 million) and organic growth.