Spain’s public operator Renfe has closed 2024 with a notable reduction in losses of 118.6 million euros compared to the previous year, to 2.95 million euros, compared to 121.5 million euros in 2023. This progress is attributed to the increase in demand, cost efficiency and the good performance of several subsidiaries.
Renfe Viajeros reached an all-time record of more than 535 million passengers transported, 2.3% more than in 2023. This growth was driven by both public and commercial services (AVE, Avlo, Alvia, Euromed, and Intercity).
This subsidiary’s total revenues increased by 5.5% to 4,122.6 million euros, and gross operating profit (Ebitda) grew by 59% to 489.5 million euros. After years in negative territory, profits were 5.4 million euros.
Regarding the other subsidiaries, Renfe highlights the improvement of Renfe Ingeniería y Mantenimiento, which obtained a profit of 2.5 million euros, and Renfe Mercancías. Although still in losses (32.2 million), it reduced its negative result by 11% compared to 2023.
