News from the board meeting

Posted: 15. december 2023

At the meeting, the Board was informed that the Metro had 11.2 million passengers in November, which is a record. Overall, a total of 110 million passengers have traveled with the Metro in the first 11 months of the year, exceeding the total number for the whole of last year, which was 108 million passengers.

"The development in passenger numbers shows that more and more people are choosing to take the Metro. In the second half of 2023, there have so far been three weekly records and one monthly record. In addition, one month before the end of the year, the Metro had more passengers than in the whole of 2022, which was the best year so far. In parallel with the positive passenger development, two extra trains have been deployed on the M1/M2, and together with the deployment of another train in 2024, this will increase the capacity of the Metro by 10%, alleviating rush hour congestion and supporting a continued good passenger experience. The Company is focused on securing even more passengers in the Metro, especially in M3/M4, and expects the positive development in passenger numbers to continue into 2024, when the M4 extension to København Syd opens," says Jørn Neergaard Larsen, Chairman of the Board of the Metroselskabet.

In November, Metro's operational stability was 98.7% overall for all lines. The operational stability for the month is lower than in previous months, primarily due to the incident on M1/M2 on November 16. Heavy rain, combined with simultaneous operation and maintenance work in the shaft at Havnegade on the line, resulted in water in the tunnel. Operations were therefore suspended between Nørreport and Christianshavn for a large part of the day.

The Company was presented with plans to integrate the company's sustainability as part of the annual report for 2023. The purpose is to reflect that the financial and sustainability aspects are treated equally. This also means that the report will comply with the EU's upcoming Sustainability Reporting Directive (CSRD), which for Metroselskabet will enter into force from the 2025 financial year. The Company was also presented with the materiality analysis for the company's sustainability, which will be included in the report.

The Board received a status on the working environment for the M4 Sydhavn project. The Company, together with the contractor TUNN3L, has introduced the Finish Safely campaign, which is based on the experience from the M3 line, where The Company, in collaboration with the contractors, succeeded in reducing the number of accidents despite short deadlines and changing staffing on the project. The project's accident rate in the first 10 months of 2023 is 4.7 (number of accidents with absence per million working hours), which is significantly below the average for Danish construction sites.

At the meeting, The Company's Board of Directors also approved the company's budget for 2024 as well as the long-term budget, which follows the plan with an unchanged repayment period, so the company's debt is still expected to be paid off in 2066.