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SBB Cargo in 2009. An extract from SBB’s Annual Report.

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Page 1: Sbb cargo 2009_e

SBB Cargo in 2009.

An extract from SBB’s Annual Report.

Page 2: Sbb cargo 2009_e
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Contents

SBB Cargo in 2009

Milestones in 2009

Organisation charts and SBB Cargo Management Board

Financial figures

Key figures

6

12

14

16

18

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SBB Cargo in 2009

Decline stabilised.

In 2009, demand for freight services decreased drastically worldwide. SBB Cargo was able to alleviate some of the repercussions of the economic crisis: taking action early on, the company implemented a wide range of measures that had an aggregate beneficial effect of CHF 115 million. In the second half of the year, SBB Cargo was able to stabilise volumes at a low level. SBB Cargo reported a loss of CHF 62.5 million (2008: CHF 29.9 million). Owing to the recession, traffic revenues decreased to CHF 915.6 million (2008: CHF 1,044.2 million). However, SBB Cargo’s averagecustomer satisfaction rating – 7.69 points out of a total of 10 – was the highest since measurements began.

Freight services. SBB Cargo posted a loss of CHF 62.5 million in 2009, compared with a deficit of CHF

29.9 million in the previous year. Owing to the reces-

sion, traffic revenues fell 12.3 % to CHF 915.6 million

(2008: CHF 1,044.2 million). The traffic volume handled

by SBB Cargo in 2009 was reduced by 7 % to 11,674 mil-

lion net tonne-kilometres (2008: 12,531 million). This

decrease was due to the fact that many of the sectors

in which SBB Cargo operates were hit by the reces-

sion. SBB Cargo made various adjustments to its rates

in close consultation with the customers involved.

SBB was quick to respond to the impending econom-

ic crisis and instituted far-reaching measures in

summer 2008. These followed on from the funda-mental restructuring of SBB Cargo that had been in

progress since 2007. The measures implemented in-

cluded a recruitment freeze, the deployment of Cargo

locomotive drivers on passenger services, and the re-

turn of freight wagons to leasing companies. In the first

half of 2009, SBB Cargo stepped up its countermeas-

ures by adapting freight capacity in advance to an an-

ticipated continuation of the demand fall-off. The roll-

ing stock fleet was reduced by 50 mainline locomotives

and 2,400 wagons. Owing to the recruitment freeze,

200 vacant posts were no longer filled. The overall ef-

fect of SBB Cargo’s package of measures was a sav-

ing of CHF 115 million. This mitigated the damage in-

SBB Cargo in 2009 / Page 6

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SBB Cargo: net tonne-kilometres

billions

15

10

5

0

05 06 07 08 09

flicted on the company’s financial result by the current

problems in the freight market. A number of major new

contracts also alleviated these problems: for example,

the intermodal operator IFB signed a three-year con-

tract with SBB Cargo for the haulage of trains from

Aachen and Basel to Turin, Milan, Novara, Piacenza

and Tavazzano. The steelmaking and metallurgy sec-

tor is one of SBB Cargo’s key customer segments. In

these industries, revenues were halved. Intermodal traf-

fic (haulage of containers and swap-bodies) was down

14 %. Also badly hit by the recession were the wood

and paper sector, and cross-border freight with neigh-

bouring railways (“cooperation traffic”). SBB Cargo suc-

ceeded in raising its revenues from the retail/wholesale

trade, and its carryings for the construction and petro-

leum industries rose significantly. The fourth quarter

saw a slight revival in intermodal transit freight and was

also helped by a very large amount of domestic sugar-

beet business.

Restructuring the freight business.

The measures initiated at an early stage to restructure

and reposition SBB Cargo meant that this company

was able in the year under review to weather the reper-

cussions of the economic crisis and the resulting down-

turn in freight volumes and revenues. The restructuring

programme, finalised in spring 2008, consisted of a package of measures affecting many sections of SBB

Cargo. In 2009, SBB Cargo shed unprofitable routes,

introduced a more flexible production system for freight

services, and continually adapted its level of services

to changing market conditions even within the year. In

this way it succeeded to some extent in cushioning it-

self against the adverse effects of a difficult economic

period.

Continuation as an independent company. SBB’s plans

to strengthen the profitability and financial inde-

pendence of its Cargo division by selling a stake to an-

other major railway operator were hampered by the re-

cession. Due to the crisis, all rail operators were faced

with massive falls in freight revenues and were forced

to implement restructuring measures (on a rigorous

scale in some cases) to overcome the difficult situa-

tion. Negotiations with two major European railways

showed that under current circumstances the sale of

a 49 % stake in SBB Cargo was not an option. After

having originally made attractive tentative offers, these

railway companies therefore decided against submit-

ting bids for a stake in SBB Cargo. SBB also saw that

the targets defined at the beginning of the project in-

volving the acquisition of a stake by a partner compa-

ny could not be met. When it began its search for a

strategic partner in 2008, SBB stressed that a partic-

ipation-based solution would only be feasible if it could

ensure a more successful future for the company in

the long term than the continuation of SBB Cargo as

an independent company. For this reason, an alterna-

tive scenario was developed in parallel, featuring co-

operation in specific areas for both domestic and in-

ternational services.

Difficult market environment – global financial

and economic crisis.

Like the previous year, 2009 was dominated by the glo-

bal financial and economic crisis. SBB benefited from

the fact that, with a crisis looming, it had already taken

initial steps to increase productivity in the late summer

of 2008 – notably a selective recruitment freeze and

various cost-saving programmes.

SBB Cargo in 2009 / Page 7

11

.4 8

13

.3 7

12

.3 4

11

.6 7

12

.5 3

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Further measures were to follow in 2009. The main vic-

tim of the economic downturn was freight: demand for

goods shipments slumped worldwide. However, SBB

Cargo succeeded in at least partly offsetting the effects

of the recession in 2009. It did so by implementing pro-

ductivity-boosting measures early on, by regularly re-

viewing its production systems and adjusting them to

market developments, and by disposing of unprofita-

ble business. In 2009, SBB Cargo saw freight revenues

in its international business fall by 15 %. In domestic

wagonload traffic, freight revenues dropped by 9 %.

In the last two years, the recession has resulted in a

consolidation of the strong market position of some

leading players. In 2009, moreover, the competitive-

ness even of these major players declined as the eco-

nomic crisis confronted them with serious difficulties,

reduced carryings and surplus capacity on their home

markets.

In this situation, it is natural that the focus should shift

back to joint efforts and cross-border cooperation. This

is the only way to enhance the market standing of rail

freight and improve its competitive position versus road

haulage. For this reason, seven European freight rail-

ways decided in the year under review to launch a

cross-border venture involving close cooperation in

wagonload traffic: the resulting Xrail alliance was formed

at the beginning of 2010. Six other European railways

will in future cooperate with SBB Cargo in the devel-

opment of European wagonload railfreight, further

strengthening the customer focus and competitiveness

of this traffic.

International business unit.

In the International business unit of SBB Cargo, the

steel industry and intermodal traffic were worst affect-

ed by the economic downturn. The number of tonne-

kilometres generated by cross-border steel trains was

down 60 % year-on-year, while revenues from the haul-

age of container trains declined overall by 14 % from

the previous year. As of October, business began to re-

cover from its reduced levels. By contrast, ChemOil AG

achieved positive growth (+ 4 %). The expansion of its

share of the petroleum products market more than off-

set the fall-off in chemicals traffic.

The trend in the freight business was stabilised in the

second half of the year by the radical measures taken

and the decreasing severity of the recession. SBB

Cargo had cut its capacity by 20 % at an early stage,

and implemented a new end-to-end production plan-

ning process for the entire North-South corridor. Pro-

duction plans and train orders were coordinated even

more closely with customers. Moreover, SBB Cargo

drafted joint development plans with major customers.

This helped to improve planning reliability and the uti-

lisation of train capacity in the fourth quarter.

Tonne-kilometres were down on the previous year by

9.1 % in Germany, but in Italy they rose by 24.0 %.

Switzerland business unit.

At the Switzerland business unit, the economic down-

turn had a varying impact on different sectors. Where-

as SBB Cargo transported a similar or even an in-

creased volume of goods compared with the previous

year for the retail/wholesale, agricultural and construc-

tion sectors, volumes transported for the steelmaking,

paper and wood industries plummeted. SBB Cargo

rapidly downsized its capacity in line with market de-

velopments. Although it maintained its basic market of-

fering, it reduced its service frequencies at particular

locations by agreement with the customers. At the

same time, SBB Cargo continued to expand its Swiss

intermodal freight offering, improving its facilities at

Renens and Sion for the transshipment of container-

ised goods. In the retail/wholesale trade, SBB Cargo

reported a slight rise in the volume of goods transported.

While freight shipped for its major client Migros was

maintained at the existing high level, carryings for the

other big Swiss supermarket group, Coop, were in-

creased slightly. As domestic bread-grain growers re-

corded a good harvest, import traffic was down in this

segment while domestic traffic rose. SBB Cargo is more

vulnerable to road competition in domestic freight

owing to the shorter distances involved. The lower har-

vest of feed grains pushed up demand for imported

SBB Cargo in 2009 / Page 8

Page 9: Sbb cargo 2009_e

grain, which benefited SBB Cargo. As a record sugar-

beet crop was harvested in 2009, SBB Cargo shipped

more than a million tonnes of beet to the sugar facto-

ries at Aarberg and Frauenfeld.

The cold winter resulted in a useful rise in road-salt car-

riage. Thanks to shipments to building sites for the

cross-city link in Zurich and to AlpTransit’s Gotthard

sites, carryings for the construction industry rose

sharply. In addition, SBB Cargo transported a larger

tonnage of aggregates than in the previous year, and

rail boosted its share of cement carriage.

The general situation in the metallurgy sector also im-

pacted on domestic freight traffic, thus affecting SBB

Cargo’s carryings: traffic in the first half of the year was

down 43 % compared with 2008. As of the autumn, the

volumes hauled stabilised at the new, lower level. SBB

Cargo also posted a sharp fall in paper and wood haul-

age. This was due on the one hand to restrictions on

timber production and, on the other hand, to a cyclical

rundown of inventories. Owing to the sharp decrease,

some routes were switched from block trains to wagon

groups or individual wagons.

Shifting traffic from road to rail.

On transalpine routes, in 2009 SBB Cargo transported

11.7 million net tonnes of freight (–21.5 %). In the wagon-

load segment, the biggest recession-induced falls in

demand were recorded in the iron and steel industry

and in the wood and paper sector. In intermodal freight,

the cyclical downturn prompted intermodal operators

to cut back their level of service. At the same time, SBB

Cargo discontinued less profitable routes. In the sec-

ond half of the year, the volume of intermodal traffic

began to pick up again. As SBB Cargo also acquired

some important new business, the downturn in inter-

modal freight was less pronounced than in wagonload

traffic. Overall, carryings of transalpine freight fell by

11.9 % to 6.1 billion net tonne-kilometres in 2009. The

average distance travelled by freight consignments rose

by 2.8 %. In the intermodal segment, the average length

of trips increased by 10.1 % whereas in wagonload

freight it decreased slightly.

Transalpine freight. Rail’s share of the transalpine freight market declined in the reporting year com-

pared with that of road freight, falling from 64 % in

2008 to 61 % last year.

SBB Cargo’s share of transalpine railfreight pass-

ing through Switzerland was 47.8 % compared

with 50 % in the previous year.

In transalpine wagonload traffic, SBB Cargo had

a market share of 57.9 % (2008: 58.8 %) as against

48.4 % (49.1 %) for unaccompanied intermodal

freight and 9.5 % (16.3 %) for piggyback traffic.

SBB’s share of the transalpine freight market

in % (net-net tonnes)

100

80

60

40

20

0

06 07 08 09

Customer satisfaction, quality and environment.

Satisfied customers at SBB Cargo. In 2009, SBB Cargo

achieved its highest ever score for customer satisfac-

tion since it began measuring this in 2003. Customers

awarded SBB Cargo 7.69 points out of 10 (2008: 7.40).

SBB Cargo in 2009 / Page 9

58.

3

55

.1

50

.0

47 .

8

Page 10: Sbb cargo 2009_e

In recent years, customer satisfaction has risen stead-

ily. The Switzerland business unit achieved its best re-

sult since 2003 with a rating of 7.61 points (7.08). Sat-

isfaction rose in nearly every area. Customers said they

were very satisfied with their business account manag-

ers, the quality of freight administration services, and

communication. Satisfaction with billing services and

complaints management was not quite so high. Cus-

tomers of our International Business Unit (including our

ChemOil Logistics AG subsidiary) rated its services at

7.88 (7.24) points, which is the best score since the sur-

veys began. Customers said they were very satisfied

with their business account managers, communication,

and freight administration services. From the custom-

er’s perspective, satisfaction with all quality criteria was

higher than in the previous year. Although complaints

management and billing services were in the critical as-

sessment area, a positive trend was noted for these as-

pects too in 2009.

Climate-friendly freight transport with SBB Cargo. If all

the freight moved throughout Europe by SBB Cargo in

the whole of 2009 had been sent by road instead, this

would have burdened the environment with almost an

extra one million tonnes of CO2. Every year SBB Car-

go saves as much CO2 as is generated by heating

150,000 Swiss households. SBB Cargo offers its cus-

tomers a detailed emissions report as the basis for op-

timising their freight logistics. This helps companies to

manage their energy consumption and carbon emis-

sions. Since 2009, climate aware companies have been

able to go one step further: in partnership with mycli-

mate, SBB Cargo now offers them a totally climate-neu-

tral service that makes up for all the emissions associ-

ated with transportation and energy production.

Noise reduction on target. Last year SBB erected a fur-

ther twelve kilometres of noise barriers on its network,

and fitted 938 SBB Cargo freight wagons with low-

noise “K soles”. In comparison with conventional cast

soles, these brake blocks create a smoother wheel sur-

face that sharply reduces the noise produced by wheel/

rail contact.

Outlook for 2010.

In close cooperation with its owner, the federal govern-

ment, SBB produced a comprehensive overview of the

possible options. In the last few months, SBB has fur-

ther crystallised and defined the strategic thrusts for

developing its freight operation. It has decided to spin

off international block-train services on the transalpine

routes into a separate company. The aim is to lower

production costs through lean structures. In future,

SBB will concentrate on its role as a traction provider

for intermodal freight on the north-south corridor be-

tween the North Sea ports and northern Italy. Discus-

sions regarding a possible share in the new company

are currently ongoing with the Swiss intermodal oper-

ator Hupac, based in Chiasso. In Swiss wagonload traf-

fic, the level of standardisation of SBB Cargo’s serv-

ices is to be increased and its offering dovetailed more

closely with customer requirements.

Page 11: Sbb cargo 2009_e

SBB Cargo in 2009 / Page 10

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SBB Cargo in 2009 / Page 11

Page 13: Sbb cargo 2009_e

Milestones in 2009

January

26 January – SBB Cargo expands its service offering for IFB (for-

merly T.R.W.) dramatically, signing a new three-year contract. In

cooperation with SNCB (Belgian Railways), the Swiss railfreight

provider will now transport around 70 container trains a week for

IFB from the North Sea coast to Italy. SNCB will haul the trains

through France to Basel and through Belgium to Aachen. SBB

Cargo then takes full responsibility for all consignments for jour-

neys to Turin, Milan and Novara as well as to the destinations of

Piacenza and Tavazzano, which were recently added to the inter-

national north-south network.

February

4 February – In order to combat the economic crisis, SBB Cargo

implements further measures including capacity reductions in

transit freight traffic. Around 30 train drivers are transferred tem-

porarily to SBB’s Passenger Division as a result of the growing

demand for passenger services following the expansion of the of-

fering to coincide with the timetable change.

March

4 March – SBB Cargo launches an individual emissions report-

ing system to support its customers in the area of environmental

management. The emissions comparison for all consignments

forwarded by SBB Cargo can easily be integrated into opera-

tional environmental management systems and shown in environ-

mental audits. Data are compiled using EcoTransIT, an online tool

developed by SBB Cargo and five other European rail operators,

together with the University of Hanover and the independent In-

stitute for Energy and Environmental Research (IFEU) in Heidel-

berg in cooperation with the International Railway Union (UIC).

24 March – Forestry and timber industry associations and SBB

Cargo draw positive conclusions from their joint project to im-

prove working relations. The project was aimed at targeting spe-

cific weak points in cooperation. Its most important results are

specific measures to improve the network of services, a Switzer-

land-wide cleaning concept for cleaning open-air loading areas

and improved planning for limited-capacity stations.

April

1 April – Annette Jordan is appointed Head of the International

business unit. Ms Jordan was instrumental in expanding the SBB

Cargo Deutschland production company, where she had been

working as Managing Director since June 2004. Matthias Birn-

baum takes over as Managing Director of SBB Cargo Deutsch-

land.

1 April – Beat Malacarne takes control of SBB Cargo’s Finance

unit. He brings with him a wealth of experience, having held sen-

ior finance positions at international industrial companies for a

number of years.

2 April – Good segment results enabled SBB to improve its over-

all result for 2008 to CHF 345.0 million (compared with CHF

80.4 million in 2007). At the annual media conference it was

announced that the positive development was the product of

good results in the Passenger segment (5.2 % increase in the

number of passengers to 322.6 million), in Real Estate and of the

progress made in the railfreight sector. In spite of a fall in total

freight traffic volumes caused by the economic downturn, there

was a marked improvement in the segment result. SBB’s high in-

vestment requirements led to outflows once again in 2008: these

increased by CHF 75.8 million to CHF 505.6 million.

2 April – At the annual media conference SBB reports on its

search for partners for SBB Cargo. SBB offers the two large rail

operators DB and SNCF a 49 % holding in its railfreight subsid-

iary. In December it is announced that negotiations with DB and

SNCF were not successful. This brought the scenario of inde-

pendent further development to the fore, a scenario which had

been discussed by SBB in parallel with the search for partners.

May

12 May – SBB Cargo takes such traditional Swiss values as pre-

cision, ecology, safety, reliability and punctuality to the Transport

Logistic trade fair in Munich. With more than 1,500 exhibitors from

60 countries and around 47,000 industry professionals attending,

Transport Logistic is Europe’s leading freight fair.

Milestones in 2009 / Page 12

Page 14: Sbb cargo 2009_e

19 May – European railfreight services are suffering a serious

downturn in demand in the wake of the global economic crisis.

According to a survey conducted by Booz & Company, volumes

in the first quarter of 2009 were down by 36 %. In the first three

months of 2009 SBB Cargo ran 19 % fewer trains on the main

north-south routes. In the export segment, the number of trains

operated by SBB Cargo was down by 27 % – while import traffic

contracted by 11 %. Finally, there was a 12 % reduction in domes-

tic services.

June

1 June – SBB Cargo officially hands over the Bellinzona works to

the SBB Passenger Division’s Operating business unit (P-OP).

P-OP had already assumed operational control of the works in

January 2008. This measure completes the outsourcing of heavy

maintenance activities.

July

29 July – SBB Cargo begins running newsprint disposal serv-

ices for Valora AG from the company’s new logistics centre in

Egerkingen to the Perlen paper mill at Gisikon-Root. This involves

handling 120 tonnes of old newspapers and magazines each day,

and thereby transferring between three and six truckloads from

road to rail.

August

4 August – The Biel works begins modernising 23 type Tm IV

shunting tractors for SBB Cargo. The vehicles are being prepared

for another 20 years’ service. The new, post-refit vehicle number

is Tm 232, and the shunting vehicles are another sign of SBB

Cargo’s commitment to the future of wagonload freight transport

in Switzerland.

19 August – SBB Cargo continues to contribute to the transfer of

freight shipments from road to rail by expanding its range of do-

mestic intermodal services. At one location each in western Swit-

zerland (Renens) and Valais (Sion), transhipment operations for

goods to be loaded into containers have been improved through

the use of two Kalmar reach stackers.

September

10 September – SBB unveils its figures for the first half of the year.

The results for the Passenger Division are good. However, the re-

cession has caused demand for freight services to plummet. SBB

Cargo posted a loss of CHF 24.4 million for the first six months of

2009 (compared with CHF –8.2 million for the first half of 2008),

but still performed well from an international perspective.

21 September – The sugar factory in Aarberg processes the first

2,000 tonnes of sugar beet to be transported by SBB Cargo. Dur-

ing the three-month season, SBB Cargo maintains its own sugar

beet network with around 75 loading terminals.

28 September – SBB Cargo announces its cooperation with the

non-profit foundation myclimate, aimed at giving its customers

completely climate-neutral services. Swiss railfreight customers

who make use of the carbon offsetting service will receive a cer-

tificate and will be entitled to attach myclimate’s “Klimaneutral”

(“climate neutral”) label to their consignments.

November

10 November – SBB Cargo announces that the audit carried out

in September by the Swiss Association for Quality and Manage-

ment Systems (SQS) was a success, and that the company re-

mains certified. As a result of the audit, the Swiss railfreight pro-

vider receives the quality certification ISO 9001:2008 for the

period 2010–2012.

December

11 December – The last scheduled service leaves Basel St. Jo-

hann, with the Rhine port line due to be closed and dismantled

at the end of the year. The consignments that had previously been

taken over by SBB Cargo at Basel St. Johann will now be tran-

shipped at the ports of Basel Kleinhüningen and Auhafen (Birs-

felden).

17 December – Daniel Lützelschwab is appointed acting Head of

Corporate Services. Mr Lützelschwab takes over his new func-

tion in addition to his current role as Head of SBB Cargo Legal

Services. Bernhard Meier, the previous Head of Corporate Serv-

ices, becomes acting Head of the SBB General Secretariat.

Milestones in 2009 / Page 13

Page 15: Sbb cargo 2009_e

Organisation charts

SBB

Passenger Traffic Infrastructure

CEO SBB Cargo AG

Finances

Human Resources

SBB Cargo AG

Production company Germany

SBB Cargo Deutschland GmbH

Sales agency Germany

SBB Cargo GmbH

Production company Italy

SBB Cargo Italia S.r.l.

Sales agency Italy

SBB Cargo S.r.l.

ChemOil Logistics AG

Services

Business Development

Real Estate

Switzerland International Asset Management business unit business unit business unit

Organisation charts and SBB Cargo management board / Page 14

Page 16: Sbb cargo 2009_e

SBB Cargo Management Board

1 2 3 4

5 6 7 8

1 Nicolas Perrin (1959, Swiss)

CEO of SBB Cargo (previously head of international business unit),

degree in construction engineering from the Federal Institute of

Technology (ETH), Zurich. With SBB since 1987; posts have in-

cluded personal assistant to the general manager and deputy to

the Board delegate for Rail 2000.

2 Adrian Keller (1966, Swiss)

Deputy CEO of SBB Cargo, head of the Switzerland business unit,

lawyer (lic. jur. degree). With SBB Cargo since 2001, first as head

of the Legal Service and head of Business Development, then as

head of Corporate Services, latterly as head of Network and

Capacity Management.

3 Annette Jordan (1968, German)

Head of the international business unit; mechanical engineer. With

SBB Cargo Deutschland since 2004 as head of the SBB Cargo

production company in Germany. Previously held senior positions

with DB Cargo.

4 Jürgen Mues (1963, German)

Head of Asset Management; previously head of Corporate Ser-

vices. Executive MBA in Logistics Management from the Univer-

sity of St. Gallen and degree in industrial engineering. With SBB

Cargo since 2006. Formerly head of Logistics and IT at Roche

Consumer Health.

5 Beat Malacarne (1962, Swiss)

CFO, certified auditor; with SBB Cargo since 2009. Previously oc-

cupied senior finance department positions in various countries

with the Holcim Group, notably as CFO for Asia.

6 Daniel Eigenmann (1958, Swiss)

Head of Human Resources; federal diploma in sports teaching.

With SBB Cargo since 2008. Previously head of Human Resourc-

es at the Swiss subsidiary of a large international pharmaceuti-

cal company. Head of Human Resources at SBB Cargo from 2003

to 2007. Before that, personnel manager at various Swiss banks.

7 Renato Fasciati (1975, Swiss)

Head of Business Development, economist (lic. oec. degree from

the University of St. Gallen). With SBB since 2007 in Corporate

Development. Head of Turnaround Task Force and Corporate De-

velopment at SBB Cargo since December 2007. Former consult-

ant at McKinsey & Company, Zurich.

8 Daniel Lützelschwab (1968, CH)

Acting Head of Services, lawyer (lic. iur. degree). With SBB Cargo

since 2001, initially in Legal Services then as assistant to the

Management Board, Board of Directors and most recently as

Head of Legal Services.

Organisation charts and SBB Cargo management board / Page 15

Page 17: Sbb cargo 2009_e

Segment information for SBB freight servicesIncome statement for the period from 1 January to 31 December

CHF millions

Operating revenues

2009 2008

Traffic revenues 915.6 1,044.2

Grants

Rental revenue from real estate

Other operating revenues

Other revenues

Own work capitalised

Revenue reductions

Total operating revenues

Operating expenses

Expenses for materials

Personnel expenses

Other operating expenses1

Depreciation of tangible assets, impairment of financial assets and amortisation of intangible assets

Allocation of Central Services costs

10.0

0.9

87.5

2.6

25.7

– 11.8

1,030.6

– 82.8

– 455.2

– 449.8

– 70.8

– 22.4

13.0

1.9

150.5

4.0

56.0

– 10.6

1,259.0

– 143.6

– 516.6

– 506.1

– 73.8

– 22.6

Total operating expenses – 1,081,0 – 1,262.7

Operating income/EBIT

Financial income

Financial expenses

Allocation of Central Services costs

Profit before tax

Taxes

Transfer payments

Minority interests

Results for the period

1 of which train-path charges

Financial figures / Page 16

– 50.4

15.3

– 22.1

– 3.3

– 60.4

– 2.1

0.0

0.0

– 62.5

– 180.7

– 3.7

17.6

– 42.1

– 0.1

– 28.3

– 1.6

0.0

0.0

– 29.9

– 214.7

Page 18: Sbb cargo 2009_e

Segment information for SBB freight servicesBalance sheet

Assets

CHF millions

Current assets

31. 12. 2009 31. 12. 2008

Cash and cash equivalents

Securities

Trade accounts receivable

Other receivables

Inventories and work in progress

Accrued income

Total current assets

Fixed assets

Financial investments

Tangible assets

Assets under construction – tangible assets

Intangible assets

Total fixed assets

Total assets

Liabilities and equity

39.0

0.1

148.1

47.8

8.8

38.8

282.5

15.8

714.1

27.4

12.4

769.6

1,052.1

24.1

0.1

173.4

49.9

54.7

46.6

348.8

15.2

765.6

34.7

15.9

831.4

1,180.2

CHF millions

Liabilities

31. 12. 2009 31. 12. 2008

Current financial liabilities

Trade accounts payable

Other current liabilities

Deferred income and accrued charges

Current provisions

Total current liabilities

Non-current financial liabilities

Other non-current liabilities

Non-current provisions

Total non-current liabilities

Total liabilities

Equity

Share capital

Capital reserves

Retained earnings

Net profit

Equity, excl. minority interests

Minority interests

Total equity

Total liabilities and equity

Financial figures / Page 17

68.0

60.4

64.0

69.9

38.8

301.0

456.6

0.5

57.4

514.5

815.6

723.0

2.2

–426.0

–62.5

236.6

0.0

236.6

1,052.1

80.0

85.5

52.0

65.0

103.3

385.9

0.0

462.6

32.6

495.2

881.0

723.0

2.2

–396.1

–29.9

299.1

0.0

299.1

1,180.2

Page 19: Sbb cargo 2009_e

Key figures for SBB Cargo

SBB Freight: principal subsidiary undertakings

Share capitalmillions

Company name

SBB holding millions

SBB holding%

31. 12. 2009

SBB holding%

31. 12. 2008

Schweizerische Bundesbahnen SBB Cargo AG, Basel CHF 723.00 723.00 100.00 100.00 V

SBB Cargo Italia S.r.l., Gallarate

SBB Cargo Deutschland GmbH, Duisburg

ChemOil Logistics AG, Basel

SBB Cargo GmbH, Duisburg

SBB Cargo S.r.l., Gallarate

RAlpin AG, Bern

Hupac SA, Chiasso

Termi SA, Chiasso

Key:V = fully consolidatedE = accounted for by equity method

EUR

EUR

CHF

EUR

EUR

CHF

CHF

CHF

13.00

1.50

1.00

0.25

0.05

0.30

20.00

0.50

13.00

1.50

1.00

0.25

0.05

0.09

4.77

0.10

100.00 100.00

100.00 100.00

100.00 100.00

100.00 100.00

100.00 100.00

30.00 30.00

23.85 23.85

20.00 20.00

V

V

V

V

V

E

E

E

Breakdown by freight type

Percentage share

80

70

60

50

40

30

20

10

0

Volume in tonnesTraffic performance in tonne-km

Breakdown by country

tkm millions

14,000

12,000

10,000

8,000

6,000

4,000

2,000

003 04 05 06 07 08 09

SBB Cargo Italia S.r.l.

SBB Cargo Deutschland GmbH SBB Cargo AG (Switzerland)

Until 2007 national boundaries were key to assigning traffic per-

formance figures. From 2008 these figures are assigned to the

appropriate railway company on the basis of actual handover

points.

Key figures / Page 18

W a

gonl

oad

fr

eig

ht Una

ccom

pani

ed in

term

odal

fr

eig

ht

Pig

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ck f

r

eig

ht

Page 20: Sbb cargo 2009_e

Traffic volume and performance

Volume2007 2008 2009 09 –08

± in %

SBB Cargo total

Wagonload freight

– Individual wagonloads

Net tonnes (millions) 53.7 54.4 49.3

35.8 37.9 34.8

24.0 24.9 21.9

– 9.4

– 8.2

– 12.0

– Wagonload block trains 11.8 13.0 12.9 – 0.8

Intermodal freight 17.9 16.5 14.5 – 12.1

– Unaccompanied intermodal freight 14.5 13.1 11.2 – 14.5

– Piggyback

Performance

3.4 3.4 3.4 0.0

SBB Cargo total

Wagonload freight

– Individual wagonloads

– Wagonload block trains

Intermodal freight

– Unaccompanied intermodal freight

– Piggyback

Railfreight volume and performance

Net tonnes (millions)

70

60

50

40

30

20

10

0

Net tonne-km (millions) 13,368.1 12,530.9 11,674.2

5,397.4 5,776.7 5,118.7

3,748.7 3,862.6 3,146.9

1,648.7 1,914.1 1,971.8

7,970.7 6,754.2 6,555.5

7,295.5 6,107.4 5,949.6

675.2 646.8 605.8

Net tonne-km (millions)

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

– 6.8

– 11.4

– 18.5

3.0

– 2.9

– 2.6

– 6.3

89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09

Net tonnes (millions) Net tonne-km (millions)

Development of railfreight performance

% share per category

100

80

60

40

20

089 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09

Unaccompanied intermodal Piggyback Wagonloads

Key figures / Page 19

Page 21: Sbb cargo 2009_e

SBB Cargo transalpine freight services

Domestic, import, export and transit traffic through the Alps in millions of net tonnes

2007 2008 2009 09 – 08

± in %

Gotthard

Wagonload freight

Unaccompanied intermodal freight

Piggyback

Net tonnes (millions) 13.46

3.89

8.89

0.68

12.28

4.21

7.52

0.55

9.00

2.96

5.72

0.32

– 26.7

–29.5

– 24.0

– 42.6

Simplon 2.82 2.49 2.67 7.4

Wagonload freight 1.20 1.03 0.94 –8.2

Unaccompanied intermodal freight 1.62 1.46 1.73 18.3

Total

Wagonload freight

Unaccompanied intermodal freight

Piggyback

16.28

5.09

10.55

0.68

14.77

5.23

8.99

0.55

11.67

3.91

7.44

0.32

– 21.0

– 25.3

– 17.1

– 42.6

SBB Cargo transalpine freight services

Net tonnes (millions)

25

20

15

10

5Piggyback

Mean distance travelled per net tonne of freight

Kilometres

260

240

220

200

180

160

140

120

100

80

60

40

002 03 04 05 06 07 08 09

Unaccompanied intermodal freightWagonload freight

20

003 04 05 06 07 08 09

SBB Cargo traffic performance by national company

Net tonne-km (millions) 2007 2008 2009 09 – 08 ± in %

SBB Cargo AG (Switzerland)

SBB Cargo Deutschland GmbH

8,008.1 7,768.8 6,581.4

3,686.2 3,649.6 3,317.4

– 15.3

– 9.1

SBB Cargo Italia Srl 915.2 914.1 1,133.9 24.0

Bought in from third parties 758.7 198.3 641.4 223.5

Total

Key figures / Page 20

13,368.1 12,530.9 11,674.2 – 7.0

18

1

17

5

205 2

20

249

230 2

37

Page 22: Sbb cargo 2009_e

Workforce and fixed assets

Employees2007 2008 2009 09 – 08

± in %

Total (consolidated)

SBB Cargo AG2

Central administration

Sales

Production

– Mainline and shunting locomotive crews

Maintenance (rolling stock)

Other

Subsidiaries3

1 Yearly average headcount (full-time equivalent).2 SBB Cargo AG (excluding subsidiaries).3 Incl. sales companies.

Structure by business units

Total (consolidated)

SBB Cargo AG2

Switzerland business unit

International business unit, excluding subsidiaries

Asset Management business unit

Central Services

Subsidiaries

SBB Cargo Deutschland3

SBB Cargo Italia3

ChemOil Logistics AG

1 Yearly average headcount (full-time equivalent).2 SBB Cargo AG (excluding subsidiaries).3 Incl. sales companies.

Rolling stock, as at 31.12

Traction units

Mainline locomotives

– Diesel-powered

– Compatible with foreign networks

Shunting locomotives

– Diesel-powered

Shunting tractors

– Diesel-powered

Freight wagons

– 4-wheel wagons

– 8-wheel wagons

– Open wagons

Number1

Number1

4,406

4,035

268

283

2,651

871

806

27

371

2007

4,406

4,035

2,079

1,008

806

142

371

160

183

28

2007

681

466

3

109

123

107

92

90

10,464

5,767

4,697

2,178

4,248

3,790

264

292

2,532

831

657

45

457

2008

4,248

3,790

2,039

951

657

143

457

178

251

28

2008

670

455

3

109

122

106

93

91

9,910

5,098

4,812

2,107

3,677

3,213

256

123

2,521

786

280

33

464

2009

3,677

3,213

2,509

211

280

213

464

172

266

26

2009

659

438

3

109

125

109

96

94

9,121

4,374

4,747

2,025

– 13.4

– 15.2

– 3.0

– 57.9

– 0.4

– 5.4

– 57.4

– 26.7

1.5

09 – 08 ± in %

– 13.4

– 15.2

23.1

– 77.8

– 57.4

49.0

1.5

– 3.4

6.0

– 7.1

09 – 08 ± in %

– 1.6

– 3.7

0.0

0.0

2.5

2.8

3.2

3.3

– 8.0

– 14.2

– 1.4

– 3.9

– Covered wagons 4,686 4,220 3,889 – 7.8

– Flat wagons, 4-wheel

– Flat wagons, 8-wheel

– Wagons with sliding walls or roof

– Special-purpose wagons

747

2,340

421

112

744

2,340

398

101

655

2,262

191

99

– 12.0

– 3.3

– 52.0

– 2.0

Noise

Low-noise SBB Cargo freight wagons

Number

%

Key figures / Page 21

5,280

50.2

6,373

64.3

7,062

77.4

10.8

Page 23: Sbb cargo 2009_e

1

2 3

5

4

6

1 Port of Switzerland, Basel – In Swiss wagonload traffic, the level

of standardisation of SBB Cargo’s services is to be increased and

its offering dovetailed more closely with customer requirements.

2, 6 Cross-city link construction site at Oerlikon, Canton of Zu-

rich – SBB Cargo’s carryings for the construction and petroleum

industries rose significantly, and it also raised its revenues from

the retail/wholesale trade slightly.

3, 4 Limmattal noise prevention service centre, Canton of Zu-

rich – Last year, SBB Cargo retrofitted 938 freight wagons with

low-noise “K-pads”. In comparison with conventional cast brake

shoes, these brake blocks spare the wheel surface and thus

sharply reduce rolling noise.

5 Busto Arsizio container terminal, Italy – Revenues from the haul-

age of container trains declined overall by 14 % from the previous

year. As of October, business began to recover from its reduced

levels.

Page 24: Sbb cargo 2009_e

This extract from SBB’s Annual Report 2009 is published in German, French, Italian and English. It can also be downloaded from www.sbbcargo.com. The printed German version is authoritative.

Publishing details

Published by: Swiss Federal Railways SBB Cargo AG,

Elsässertor, Centralbahnstrasse 4, 4065 Basel, SwitzerlandConcept: schneiter meier külling AG, ZurichLayout: Satzart AG, BernePhotos: Andrea Vedovo, Zürich; SBB Cargo, BaselPrinted by: Vetter Druck AG, Thun

Page 25: Sbb cargo 2009_e

SBB Cargo AG

Communications

Elsässertor

Centralbahnstrasse 4

4065 Basel

Switzerland

www.sbbcargo.com