Lower traction energy costs elevate Renfe’s quarterly figures
Renfe has seen its traction energy costs fall by more than 30 per cent over the last quarter. This has helped the Spanish operator to contain overall costs and reduce its losses. An increase in passenger numbers and freight transport also contributed, the company announced on Monday.
In the past quarter, Renfe recorded a loss of 70.45 million euros, an improvement of 28.6 million. It saw a 34 per cent increase in passengers to almost 129 million. Income from freight was up by 57 million. The revenue from passenger transport and freight combined came out at 901.3 million euros. With additional activities added up, such as the management of Saudi Arabia’s Haramain high-speed line, Renfe booked a total income of 981.5 million euros, an increase of 7 per cent.
Renfe notes that it was able to achieve a growth in passenger numbers despite increased competition for its commercial services AVE, Avlo, Alvia, Euromed and Intercity on certain corridor’s. SNCF’s Ouigo started competing with the national operator Renfe in October while Iryo joined in December. Both new players are targeting additional services on additional lines. Renfe, on its part, is eying formal expansion in France.
The company’s expenses fell by 4 percent to 952.92 million euros in the past quarter. This was mainly due to a 30.3-per cent drop in traction energy costs.
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