Renfe Viajeros, the Renfe’s subsidiary focused on passenger transport operations and the provision of tourist services, has increased its gross operating profit (Ebitda) at the end of the 2024 financial year to EUR 338 million, a figure 17% higher than that obtained during the whole of 2023 (289 million).
The positive evolution of this indicator over the past year highlights the effectiveness of the measures adopted by the company to improve its efficiency and operational performance, as well as the growth in demand, especially in the commercial services division (AVE, Avlo, Alvia, Euromed and Intercity).
In this regard, the increase of more than 88% in the operating profit of the commercial services area of the passenger subsidiary stands out, reaching EUR 114.56 million, compared to EUR 60.78 million last year.
The contribution of the high-speed corridors linking Madrid with Catalonia, Andalusia and the Valencian Community has been particularly significant, although in the latter case the commercial operation was conditioned by the effects of the DANA, which forced the suspension of the high-speed service between 29 October and 14 November.
In the area of public services (those railway connections classified as Public Service Obligations), Renfe Viajeros has recorded an Ebitda of EUR 224.4 million in 2024, which represents a slight fall of 1.7% compared to the 228.31 million of the previous year. This decrease is mainly explained by the extension of the discounts on the Cercanías, Rodalies and Media Distancia services.
These advances in the operational performance of Renfe Viajeros have finally materialized in a 33.6% reduction in the losses of Renfe’s passenger transport subsidiary during the year as a whole, reduced to -EUR 43.16 million compared to -EUR 65 million recorded in 2023.
The reduction in losses has also been reflected in the commercial services area of Renfe Viajeros: the result for the year has improved by 35.2% in 2024, going from -EUR 70.12 million in 2023 to -EUR 45.42 million in 2024.
In public services, the result has reflected a slight decrease in profit, from EUR 3.72 million in 2023 to EUR 2.26 million in 2024.
Plan for Value Generation and Efficiency Improvement
Renfe is thus continuing to develop its Plan for Value Generation and Efficiency Improvement, the aim of which is to improve the company’s competitiveness and achieve an immediate impact on its operating results.
The company identified 46 commercial initiatives, within the framework of this Plan, which have ended the year with a contribution to the Renfe group’s EBITDA of EUR 27.8 million and savings of around 60 million, in full compliance with the objective set for the whole of 2024.
The measures contained in the Plan for Value Generation and Efficiency Improvement are constantly evolving and adapting to both market circumstances and the competitive situation.
These measures are designed to improve the company’s efficiency and competitiveness while not compromising the quality of the service offered to customers. Renfe’s commitment to excellence and user satisfaction is a fundamental priority in the implementation of the Plan.
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