Date post: | 14-Jan-2016 |
Category: |
Documents |
Upload: | gwen-logan |
View: | 220 times |
Download: | 0 times |
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
Hans-Werner Franz
1
VBB Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
VBB.de
EMTAGeneral Meeting
September 17th, 2012
Hans-Werner FranzCEO VBB GmbH
President of EMTA
The problem of vehicle procurement, funding and the task
of organising competition
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
3
Competition goals
► More passengers Increases in passenger numbers by means of incentive systems
► More quality New or modernised trains on all networks
► More services Increase in train-km possible for the same price
► Same or Cost reduction potentialsreduced lie between 10% and 50 %financial requirement
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
4
Competition intensity in rail traffic 2012 EU-wide
High
Medium
Low or not present
Freely accessible regional rail passenger transport (SPNV) market in Germany
Germany: high SPNV competition intensity
Consistently good competition experiences
Currently 30 SPNV companies active
Long-distance rail traffic: hardly any competition
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
5
Intensity of competition in rail traffic 2000-2012 by Federal State
Differing intensity of competition Generally high dynamics Expiry of "large-scale DB transport
contracts" Strong increase in number of contracts
70 out of a total of 640 million train-km tendered annually
Currently, however, stagnating dynamics, causes: too many procedures
simultaneously too few bidders too few new or foreign bidders lack of small and medium-sized
companies
Challenge for ordering authorities
High
Medium
Low
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
6
SPNV competition in Berlin and Brandenburg 2012 (not inc. S-Bahn)
SPNV operators in Germany
SPNV operators in the VBB
More than 91 percent awarded in competition!
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
7
Organisation of competition in Berlin and Brandenburg
VBB awards services on behalf of the Federal States of Berlin and Brandenburg, in part with other ordering authorities
► High synergy effects thanks to size Public tenders are the rule
► Most legally secure and fastest path to the objective
VO1370 applied since 3rd December 2009
► Securing social standards for employees In the future, a rolling award system is intended
one procedure per year
► Foresighted management ► Planning security
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
8
Regional traffic: good marks from customers in 2011
!
!
Marked improvement in the last ten years!
No incentive for SPNV operators to improve their services in the absence of competition!
Customer satisfaction in regional traffic (companies)
Companies 2010 2011
DB Regio AG, Contract1 2.06 2.00
DB Regio AG, Contract3 2.02 2.01
ODEG, Contract1 + 2 1.46 1.53
ODEG, Contract1 3 1.43 1.37
OLA (MR) 1.42 1.38
PEG 1.67 1.52
NEB, Contract1 1 1.42 1.32
NEB, Contract1 2 1.63 1.58
Total 1.95 1.91
Basis: 3,836 regular users, weighted rating marks 1 – 6 (1 = very satisfied)
Customer satisfaction in regional traffic (trains)
Quality criterion 2010 2011
Punctuality 2.54 2.59
Cleanliness 2.02 1.95
Furnishings 1.62 1.62
Freedom from damages 1.83 1.80
Safety from criminality 1.80 1.81
Seating capacity 2.13 2.04
Info in general 1.65 1.60
Info on delays 2.49 2.43
Friendliness/Expertise of train staff 1.73 1.71
Options for purchasing tickets 1.82 1.71
Total 1.95 1.91Basis: 3,836 regular users, weighted rating marks 1 – 6 (1 = very satisfied)
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
RU4RU3RU2
9
Recognisable trends since 2008
Permanently declining number bidders in tender procedures
Progressive bidder consolidation
Increasing risk due to DB monopoly on: network, stations and energy (infrastructure)
Increase in volume of services with ever larger size of networks
Problems with funding resources (vehicles, workshop)
RU1
RU2RU1
vs.
+ =
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
10
The problem area of international traffic – for example Poland
Problems• Different power systems• Different control command• Vehicle registration• SPNV underfunded in Poland
Although international traffic is a special challenge, it has considerable potential
Wrocław
Zielona Góra
Poznań
Szczecin
Gorzów Wlkp.
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
11
The problem area of used vehicles
No existing market in Germany, one single provider
Diesel trains only. Too much variety in vehicle requirements
(entry height, interior fittings) for each Federal State and ordering authority.
High conversion costs for vehicles and new registration problems
Transport contract periods not harmonised
High downtime costs No guarantee of vehicle acceptance
Photos: Alpha Trains
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
12
The problem area of vehicles and workshops in general
Vehicles Considerable lead times and investment sums (effects of financial crisis) Larger vehicle fleets due to larger tender networks No vehicle requirement standardisation Duration and problems of registration Lack of a used vehicle market DB Energy monopoly
Workshops Dealing with existing workshops Depreciation period Increasing problem with locations Filling facilities
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
13
Problem area of SPNV vehicles
• Manufacturers' concentration on vehicle technology
• Diesel:
• Electric:
• Foreign manufacturers: observing the market
• delivering in 2014 first diesel vehicles for Netinera a new impetus
• Existing DB framework contracts with CAF, Stadler and Alstom
• Leasing market: only one provider
• Registration duration: 44 months
• EU-wide registration not possible
Japan
Poland
Spain
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
14
Gross distortion of the market caused by the dominating role of DB in nearly all tending procedures
Interest in vehicle financing slowly on the increase again However: most banks possess no understanding of the SPNV market,
therefore a conservative approach
The problem area of vehicle financing – market situation in 2012
DB's advantages
•Top rating and top credit-worthiness (Federal enterprise)•plenty of transport contracts, low residual-value risks •direct access to financial markets, more favourable credit conditions•Intra-corporate financing strategy
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
15
Problem area: non-federally owned operator vehicle funding
Payment default on part of PTO (public transport authority) during current contract Demand for payment default protection
Definitive use of vehicles during transport contract duration not ensured
Demand for guarantee of vehicle use
Reuse/continued use of vehicles upon expiry of contract uncertain/not foreseeable
Demand for fixed reuse guarantee
Financial solvency of small PTOs not sufficiently high for large-scale sums
Demand for high securities
No financing sum > 50 million EUR
Bank consortium
Formal guarantee through PTO not affordable
High risk premiums by financiers
PTO offer markedly more expensive
Other protection possibilities necessary Surety from parent group
Of limited use only (foreign parent group)
Lengthy and arduous coordination
Tender period not sufficient
DemandsDemands ReactionsReactions
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
16
Ordering authority funding possibilities and aid
Ordering authority (PTA) vehicle pool
(PTA vehicle ownership)
Guarantee of re-use(PTO vehicle ownership)
Undisputed assignment(PTO vehicle ownership)
Rhine-Ruhr PTA (VRR) model
(PTA vehicle ownership)
Vehicle provision model(Pool operator vehicle ownership)
Residual-value guarantee(PTO ownership vehicle, as
appropriate for 2nd TC with PTA)
Development bank model
(PTO vehicle ownership)Re-registration assurance
(PTO vehicle ownership)
Operate Lease(Lessor vehicle ownership)
Financial Leasing (PTO vehicle ownership)
Loan/Capital market financing
(PTO vehicle ownership)
Purchase specification assurance
(Lessor vehicle ownership)
classical models hitherto practiced
Pool models Mixed forms, moderate aid
Refinancing aid via regional/development banks
(PTO vehicle ownership)
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
17
Practical example 1: The LNVG (regional transport company) vehicle pool
LNVG vehicle pool
PTO
Transport contract
Infra-structure
Energy
Subcontract Practical Tasks
Servicing and maintenance contract
Contract Contract
Vehicle manufacturer
Vehicle delivery contract
No representation of the contractual relationships between LNVG, OHE (East Hanover Railway) and PTO for maintenance of double-decker trains in Uelzen plant
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
18
Practical example 2: The VRR model
VRR
PTO
Transport contract
Infra-structure Energy
Vehicle delivery contract
Leasing contract
Framework contact
Contract Contract
Vehicle manufacturer
Vehicle delivery contract
BankLoan contract at local authority loan conditions
Technical advisorsControlling
Joint body
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
19
Practical example 3: Purchase specification assurance for vehicles in replacement contracts
PTO
Transport contract
Purchase specification form in replacement contractsQuotation in tender
Acceptance of quotation
Lessor
Leasing contract
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
20
Practical example 4: Guarantee of re-use
Why guarantee of re-use? Minimising residual and re-use risks Equal, uniform distribution of the vehicle financing costs
over a period of two transport contracts feasible
Ensuring the vehicle financing
Basic structure of re-use guarantee Optional use by the PTO Assumption of residual-value risk by PTA Binding vehicle specifications for successive tendering
of services
Transport contract I
t
Transport contract II
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
21
Application of ordering authority contiguous vehicle financing in Germany
Ordering authority contiguous financing is becoming increasingly popular in Germany
In this regard, all the models discussed are in use
Up to now a clear East-West gradient recognisable
Excepting Bavaria: so far successful tenders even without financial aid
Source: KCW
Vehicles owned by ordering authorityProvisioning by third-party
Guarantees
Access to old vehicles
30-year contract (S-Bahn)
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
22
Dealing with alternative financing models Ensuring vehicle financing essential through the ongoing financial crisis Responsiveness of the PTAs to maintain or increase the number of bidders Taking account of the differing credit-worthiness of the PTOs Restricting the aid to sensible cases of application Selecting the financial aid according to procedure and framework conditions
Vehicle pool or re-use guarantee / re-registration undertaking + debt servicing guarantee
- Large investment volume (size of fleet markedly in excess of average subnetwork size)
- Special vehicles (not usable everywhere in Germany, e.g. S-Bahn at 90 cm standard, direct current or dual-voltage vehicles, tilting technology)
Re-use guarantee / Re-registration undertaking - Medium investment volume with universal standard vehicles- Medium-term periods
No guarantees or assistance- Smaller specifications with used and/or standard vehicles- Medium to short-term periods
VBB.de Verkehrsverbund Berlin-Brandenburg GmbHHardenbergplatz 210623 Berlin
EMTA General Meeting Berlin
23
Thank you!