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Nobina AB (publ)
FormerlyConcordia Bus AB (publ)
Company typePublikt aktiebolag
IndustryPublic transport
Founded1999
HeadquartersSolna,
Stockholm
,
Sweden
Areas served
Key people
Ragnar Norbäck (CEO)
BrandsSwebus
Revenue
  • Increase SEK 7,549 million (2014)
  • SEK 7,269 million (2013)
  • Increase SEK 371 million (2014)
  • SEK 326 million (2013)
  • Increase SEK 141 million (2014)
  • SEK 87 million (2013)
Total equity
  • Increase SEK 310 million (2014)
  • SEK 224 million (2013)
Number of employees
  • Increase 7,603 (2014)
  • 7,547 (2013)
Websitewww.nobina.com
Footnotes / references
[1][2]
Concordia Bus BV
Company typeBesloten vennootschap
IndustryPublic transport
Founded1997
Defunct?
Headquarters
Amsterdam
,
Netherlands
Owners
Websitewww.nobina.com

Nobina AB (former Concordia Bus AB) is the largest bus transport group in the Nordic region, serving markets in Denmark, Finland, Norway and Sweden with a total of 3,347 buses (2014).[2] Since 2005 the group is based in Stockholm.

History

Concordia Bus BV was founded in 1997 by Schøyen Gruppen (37%) and National Express Group (63%).[3] The company was registered in Amsterdam, Netherlands, but was managed by Schøyen-subsidiary Concordia Bus Management AS with headquarters in Oslo, Norway.[4]

In 1999, National Express withdrew, while Goldman Sachs' subsidiary Bus Holdings Sàrl (registered in Luxembourg) came in with an owner share of 51.0 %. Schøyen owned 47.15% of the shares, while the remaining 1.85% were owned by the management. On 27 October 1999, Concordia Bus and Stagecoach announced that Concordia Bus would buy Swedish bus operator Swebus from Stagecoach Group, which had been acquired in October 1996 as part of the privatisation of the Swedish State Railways' bus operations.[3][5] The transaction was approved by the European Commission on 10 December 1999[6] and completed in January 2000.[7] Swebus consisted of holding company Swebus AB, Swedish operating subsidiary Swebus Sverige AB, Finnish operating subsidiary Stagecoach Finland Oy Ab, Swedish tourist coach operator Interbus AB and some other minor subsidiaries. The group structure became, from top to bottom, Concordia Bus BV > Concordia Bus Holding AB > Concordia Bus AB > Concordia Bus Nordic Holding AB > Swebus AB, and then all the subsidiaries. In May 2001, Swebus AB changed name to Concordia Bus Nordic AB, and Swebus Sverige AB subsequently changed to Swebus AB.[8][9]

1 February 2001, the ownership of Schøyen Gruppen's subsidiary Ingeniør M. O. Schøyens Bilcentraler (SBC) was transferred to Concordia Bus.[10] SBC was one of Norway's oldest and largest bus operators, dating back to 1921.

The acquisition of Swebus was partly financed through bond loans, which led to a financial restructure finalized on 4 October 2005, where the loans were converted to €160 million worth of shares in Concordia Bus AB. The holders of the loans assumed 97.5% of the shares,[11][12] leaving only 2.5% to Concordia Bus BV and its owners. This meant that Concordia Bus AB became the new head of the group and considered a Swedish group of companies. Concordia Bus BV and its subsidiary Concordia Bus Holding AB have since become defunct. Major new shareholders included Bluebay Asset Management (27%), Bear Sterns (17%), Avenue Capital (11%), Fidelity Funds (9%) and Lone Star (7%).[13][14]

In March 2006, Concordia Bus Fleet AB was formed to maintain all leased and owned buses, where all leased buses would belong to Concordia Bus Fleet, while all owned buses would belong to Swebus BusCo AB, both companies with the same management. By 1 March 2007 all 3,503 buses had been transferred from the operating companies and then leased back to them, with the exception of some special buses in Sweden.[15] On 4 December 2006, Interbus was sold to Strömma Turism & Sjöfart AB.[16] By 1 July 2007, SBC changed name to Concordia Bus Norge AS.[17]

19 October 2008, Concordia Bus Danmark A/S commenced their first PSO contract for Movia at North Zealand.[18] Later, operations have been expanded to Jutland.

1 December 2009, the whole group of companies changed name from Concordia Bus to Nobina, with the exception of Swebus Express.[19] The "Nordic" names were also changed to "Europe", apparently showing that Nobina are considering trying their luck outside the Nordic region. As the name Swebus was now available, Swebus Express started trading as just Swebus, while the real name of the company is still Swebus Express AB.

Operations

Structure

Group Structure (at May 2015)[1][2]
Nobina AB (publ)
Nobina Europe Holding ABNobina Fleet AB
Nobina Europe AB (publ)
Nobina BusCo AB
Nobina Danmark A/S
Nobina Finland Oy Ab
Nobina Norge AS
Nobina Sverige AB
Swebus Express AB

Nobina BusCo AB and Nobina Fleet AB

Former Swebus BusCo AB and Concordia Bus Fleet AB, respectively. Manage all the group's buses, which are leased by the different operating companies. Leased buses are managed by Nobina Fleet, while Nobina BusCo manages the buses that are owned by Nobina.

Nobina Danmark A/S

Danish operating subsidiary. Operates city buses in Copenhagen, Herlev, Hillerød, Næstved and Randers, and regional buses in Hillerød area. Operating since 2008 with headquarters in Glostrup.

Nobina Finland Oy Ab

Former Oy Swebus Finland Ab, Stagecoach Finland Oy Ab and Concordia Bus Finland Oy Ab. Finnish operating subsidiary with history dating back to 1926. Operates in Helsinki area with headquarters in Espoo.

Nobina Norge AS

Former Ingeniør M.O. Schøyens Bilcentraler AS and Concordia Bus Norge AS. Norwegian operating subsidiary, formed in 1921 by Martin Olsen Schøyen. Headquartered in Oslo and operating routes in Oslo, Akershus, Hordaland and the city of Tromsø.

Further information: Nobina Norge

Nobina Sverige AB

Former Swebus AB. Swedish operating subsidiary with history dating back to 1911. Operating in major parts of Sweden.

Further information: Nobina Sverige

Swebus Express AB

Operates intercity coach service in southern parts of Sweden. Since 2009 known as just Swebus.

Further information: Swebus Express

References

  1. ^ a b "Nobina AB (publ)". allabolag.se (in Swedish). Retrieved 14 May 2015.
  2. ^ a b c "Annual Report 2014/2015" (PDF). Nobina AB. 6 May 2015. Retrieved 14 May 2015.
  3. ^ a b "Concordia køber Swebus". myldretid.dk (in Danish). 7 December 1999. Retrieved 23 March 2015.
  4. ^ "Buss" (in Norwegian). Schøyen Gruppen. Archived from the original on 2 January 2002. Retrieved 23 March 2015.
  5. ^ "Concordia Bus acquires Swebus". Concordia Bus. 27 October 1999. Archived from the original on 21 January 2002. Retrieved 23 March 2015.
  6. ^ "Case No COMP/M.1768 - Schøyen / Goldman Sachs / Swebus" (PDF). European Commission. 10 December 1999. Retrieved 23 May 2015.
  7. ^ "Swebus". Concordia Bus. Archived from the original on 3 July 2007. Retrieved 25 March 2015.
  8. ^ "EDGAR Filing Documents for 0001047469-04-018896". U.S. Securities and Exchange Commission. 28 May 2004. Retrieved 23 May 2015.
  9. ^ "EDGAR Filing Documents for 0001104659-06-072053". U.S. Securities and Exchange Commission. 7 November 2006. Retrieved 23 May 2015.
  10. ^ "Concordia Bus Norge AS". Concordia Bus. Archived from the original on 29 June 2007. Retrieved 25 March 2015.
  11. ^ "Bussen har gått for Schøyen" [The bus has passed for Schøyen] (in Norwegian). Nettavisen. 19 July 2005. Retrieved 23 March 2015.
  12. ^ "The history of Concordia Bus". Concordia Bus. Archived from the original on 29 June 2007. Retrieved 25 March 2015.
  13. ^ "Key facts of Concordia Bus". Concordia Bus. Archived from the original on 29 June 2007. Retrieved 15 May 2015.
  14. ^ "Concordia Bus Nordic AB - 20-F - 20070516 - Security_owners". EDGAR Online. 26 August 2005. Retrieved 23 May 2015.
  15. ^ "Concordia Bus Fleet AB". Concordia Bus. Archived from the original on 29 June 2007. Retrieved 25 March 2015.
  16. ^ "Strömma Turism & Sjöfart köper Interbus". Concordia Bus. 23 November 2006. Retrieved 25 March 2015.[dead link]
  17. ^ "Concordia Bus Norge - Startside". sbcbuss.no (in Norwegian). Archived from the original on 31 July 2007. Retrieved 23 May 2015.
  18. ^ "Movias 2. udbud: Concordia ind i Danmark". myldretid.dk (in Danish). 7 February 2008. Retrieved 18 May 2015.
  19. ^ "Concordia Bus changes its name to Nobina". Concordia Bus. 2 November 2009. Archived from the original on 15 December 2009. Retrieved 15 May 2015.
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