Finances in 2015
Since the start of our activities, we have managed to make a profit or almost break-even year after year, and 2015 is no exception. Financial stability is one of management's key objectives and is therefore included in the strategic business plan.
Slightly negative overall result (EBT) in 2015
Infrabel ended the 2015 financial year with a slightly negative overall result (EBT) of -6.8 million euros. Historically, Infrabel has incurred no debt apart from the financial debt we had to assume from the former SNCB Holding on 1 January 2014 (in relation to the restructuring of the former SNCB Group) and the debt associated with the Liefkenshoek Public-Private Partnership.
Once again in 2015, Infrabel managed to keep the total net financial debt stable. This despite pressure on public funding. We are determined not to allow this historic debt to grow and even, if possible, to reduce it. Thanks to tight budgetary control and efficient management of resources at all levels, with regard to both investment projects and current operating expenditure, all of our decisions will increasingly be guided by this in years to come. The financial debt and the cash position are closely monitored and optimised. So far, Infrabel has managed to retain a very good financial rating.
Investment budget strictly adhered in 2015
The annual investment budget was strictly adhered to in 2015. Infrabel invested a total of 965 million euros in maintaining the Belgian railway infrastructure and making it safer. Operating costs were subjected to scrutiny with a view to savings on external expenditure, more efficient business processes and increased productivity.
Investment and operating budgets for 2016
The investment and operating budgets for 2016 were drawn up with serious attempts to find savings in line with the funding announced. Initial versions of a financial plan and a multiannual investment plan have been drawn up for the period 2016-2020, pending a final decision on the allocation of funding between Infrabel and SNCB.
Our number one priority for these investments remains to improve safety through the progressive installation of ETCS on the Belgian rail network (in accordance with the joint master plan with SNCB) and the centralisation of signal boxes. By investing appropriately, Infrabel will also help ensure that trains run on time.