SBB commercialises freight

SWISS STATE SELLS SHARE

RAIL • KEEN TO ACCELERATE THE MODAL SHIFT AND ENCOURAGE A MARKET-FOCUSED OUTLOOK, SWITZERLAND HAS SOLD A SHARE IN SBB TO A CONSORTIUM OF LOGISTICS FIRMS

IN SEPTEMBER 2018, Switzerland’s stateowned rail company SBB announced its intention to identify suitable partners to take a minority interest in its railfreight business, with the aim of shifting the market positioning of SBB Cargo to a more entrepreneurial focus. In order to facilitate the sale, SBB Cargo was established as an independent company within the SBB Group on 1 January 2019.

At the end of August 2019, SBB announced that it had accepted an offer from Swiss Combi AG to take a 35 per cent holding in SBB Cargo. The investment is subject to approval by the relevant antitrust authorities and is not expected to be finalised until spring 2020. Both sides have agreed not to disclose any financial details about the deal.

It is anticipated that this equity participation will ensure a partnership-driven, marketoriented development of the railfreight business in and through Switzerland. SBB will maintain a majority holding in SBB Cargo and will have three representatives on the six-strong board of directors of SBB Cargo, along with two from Swiss Combi and one independent board member.

FOUR TAKE PART Swiss Combi AG is a joint venture formed specifically for participation in SBB Cargo by four Swiss logistics companies: Bertschi AG, Camion Transport AG, Galliker Holding AG and Planzer Holding AG. Camion and Planzer each have a 40 per cent share in Swiss Combi and will supply one board member each; Bertschi and Galliker each have a 10 per cent share. All four move significant volumes of freight on the Swiss and international road and railfreight transport markets and have a mutual interest in further developing a sustainable modal split between road and rail transport, as well as in fostering a competitive local railfreight market.

The four companies, each family-owned, are aiming to use their participation to improve the competitiveness and profitability of SBB Cargo and, thereby, to contribute positively to a sustainable and environmentally friendly modal shift towards rail. Outside of Swiss Combi, the four firms will continue to operate independently.

Camion Transport says its participation is strategically important. “We have been using environmentally friendly rail transport since 1985. By acquiring interests in SBB Cargo AG, not only will we be able to help shape the future of Swiss rail freight transport, but we can also contribute to making future progression successful.”

Bertschi is the only one of the four logistics companies involved in Swiss Combi to have a strong position in the chemical supply chain. It moves 80 per cent of its European freight volumes using intermodal transport by rail and plans to use its decade-long experience in expertise in such intermodal transport to help further SBB Cargo’s position. “These plans shall further contribute to the achievement of challenging climate targets in freight transportation,” Bertschi says.

SBB Cargo moves almost 30m tonnes of freight per year in wagonload, company trains and intermodal transport within Switzerland, equivalent to some 10,000 full truckloads per day. Its international operation is the leading provider of transalpine railfreight services through Switzerland, with a market share of some 38 per cent. SBB Cargo generated revenues of SFr 742m ($750m) in 2018. HCB www.sbbcargo.com