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Fjellinjen is Norway's largest toll company in terms of revenue and traffic. The company handles a large volume of transactions and collects tolls that contribute to the funding of the Oslo Package 3.
Fjellinjen is owned by the Oslo municipality (60%) and Akershus county (40%).
Each toll passage is essentially a financial transaction. On average, more than 32 million passages are registered at Fjellinjen's toll stations every month.
The company's annual revenue is approximately 4 billion Norwegian kroner. This makes Fjellinjen one of Norway's 250 largest companies measured by revenue.
The toll revenues are allocated to the Oslo Package 3. This is the overarching plan for financing, development, and operation of public transportation, pedestrian, and bicycle paths in the Greater Oslo area.
Fjellinjen ensures stable financing of projects in the Oslo Package 3 through the issuance of listed certificate and bond loans. Partial financing is provided if the need for toll revenues arises before they are collected. The loans are listed on the Nordic ABM/Oslo Stock Exchange.
The Norwegian Parliament has decreed that Fjellinjen has the right to collect tolls in the Oslo area and has the obligation to finance approved projects in the Oslo Package 3.
On this page, you will find Fjellinjen's stock exchange announcements, annual reports,, credit ratings, and green framework.
Fjellinjen is credit-rated by Standard & Poor’s (S&P). Regular assessments of the group are conducted, and any changes are communicated to the financial market.
Since 2018, Fjellinjen has held an AA rating with S&P. The rationale behind this rating is that the company has predictable revenues, a moderate level of debt, and stable framework conditions for financing infrastructure projects in the Oslo region
A significant portion of the projects financed by Fjellinjen's bond and certificate loans are environmentally friendly. We have developed a green framework and are certified by Cicero as Dark Green
In the autumn of 2021, Fjellinjen developed a green framework which was reviewed by an independent third party, CICERO, the Center for Climate Research. They assessed Fjellinjen's financing purposes as "Dark Green" and gave Fjellinjen a governance score of Fair based on the policies and processes the company had at the time of assessment.
In March 2022, Fjellinjen issued its first green bond under the green framework. The bond was for 500 million Norwegian kroner and had a term of five years. The entire loan amount was allocated to green projects within Oslo Package 3 during 2022. The funds were allocated to the Fornebu Line, a new signal system for the metro, and pedestrian and bicycle paths. Among other things, the funds contributed to the construction of 5,551 meters of bicycle paths in Oslo and 3,097 meters of bicycle paths in Akershus.
The table allocating funds to the various projects has been externally reviewed by Deloitte.
Here you will find all of Fjellinjen's annual reports from its inception in 1990 to the present day.
