Arriva has published a review of its performance in the 12 months to 31 December 2014 and an update on its prospects for the future.

David Martin, chief executive of Arriva said: “We have continued to invest all of our operating cash flow in growing our business over the past 12 months. That positive strategy is reflected in our continued strong revenue and EBITDA growth.

“Our success in the UK and across mainland Europe perfectly positions us to take advantage of transport markets as they advance and liberalise.

“That pace of change is increasing and we are determined to embrace pending EU legislation, including the progress of the fourth railway package, which has the potential to help us deliver further long-term growth and passenger benefits.

“In the UK our bus investment programme is delivering a greener fleet, and includes the introduction of 230 new hybrid buses alongside a growing fleet of electric and gas buses.

“While in UK rail, this summer we will submit an innovative, compelling bid for the Northern rail franchise – drawing upon our experience gained from operating train services for customers across Europe.

“We have seen significant growth across mainland Europe through a variety of contract wins – helping to strengthen our position in both the bus and rail markets – especially in the Northern and Eastern European territories.

“Innovating for our customers is also a significant, ongoing focus. We were pleased with the Department for Transport’s decision to allow CrossCountry to permanently retail our industry-leading advance purchase ticketing solution, while across the whole of Europe our approach to smart ticketing and smartphone technology is making our services more appealing and accessible.”