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THE WORLD BANKWorking for a World Free of Poverty
UNECE Working Party on Rail TransportNovember 7-8, 2012
Martha Lawrence, World Bank
THE WORLD BANK
THE WORLD BANKWorking for a World Free of Poverty
Role of transport in economic development Why railways?
• Cost• Environment• Land use
Why reform• Market effective• Cost efficient• Financially sustainable
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
Incentives
THE WORLD BANKWorking for a World Free of Poverty
Industry Structures
Policy
Incentive Structures
Governance
Regulation
Management Practices
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
Outsourcing
Privately owned rolling stock
Service contract
Private operator
Franchise
Concession
Privately owned railway
THE WORLD BANKWorking for a World Free of Poverty
National Transport Strategy
Owner of Railway
Purchase Railway Services
Industry Regulation
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
• Safety regulators should establish safety standards and railway companies should establish systems for implementing the standards
Market is best economic regulator
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
Tram
Light Rail
Mixed Freight Train
Double-stack Container Train
High Speed Rail
THE WORLD BANKWorking for a World Free of Poverty
Railway Infrastructure
Train Control Center
EMU in Queensland
DMU in the Netherlands
Rotary Dumper for Gondola carsRussian Oil Tank Wagon
THE WORLD BANKWorking for a World Free of Poverty
Fundamentals of railway cost structure & how structure drive market power
Pricing of passenger and freight services, infrastructure
More
THE WORLD BANKWorking for a World Free of Poverty
Revenue Expenses
Operating Costs
Depreciation
Financial Costs
Operating Revenue
Operating Grants and Subsidies
Capital Grants and Borrowing
THE WORLD BANKWorking for a World Free of Poverty
-25%-20%-15%-10%-5%0%5%10%15%20%25%
- 100 200 300 400 500 600 700 800
BGN
mill
ions
Operating profit
Operating revenues Operating costs (incl. depreciation) Operating profit
FINANCIAL RESULTSWhen?
Operating profit margin
minimum ‐18% 12/31/2009maximum 22% 12/31/2017average 9%
Net profit margin minimum ‐67% 12/31/2011maximum 20% 12/31/2017average 5%
DSCR minimum 0.0 12/31/2011maximum 1979626.2 12/31/2024average 904263.3
Working ratio minimum 66% 12/31/2017maximum 97% 12/31/2009average 78%
Current ratio minimum 0.5 12/31/2010maximum 2.5 12/31/2026average 1.8
More
THE WORLD BANKWorking for a World Free of Poverty
More
THE WORLD BANKWorking for a World Free of Poverty
National Transport Strategy
Owner of Railway
Purchase Railway Services
Industry Regulation
Facilitate International Rail Transport
Set Rail Industry Structure
THE WORLD BANKWorking for a World Free of Poverty
Governance
Organization structure
Strategy
Service design
Investment
Human resources
THE WORLD BANKWorking for a World Free of Poverty
Outsourcing
Privately owned rolling stock
Service contract
Private operator
Franchise
Concession
Privately owned railway
THE WORLD BANKWorking for a World Free of Poverty
THE WORLD BANKWorking for a World Free of Poverty
http://www.ppiaf.org/railtoolkit
THE WORLD BANKWorking for a World Free of Poverty
Thank you for your attention!
Questions?
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