Metro de Madrid made a profit of 10 million Euro in the 2020 financial year
Metro de Madrid made a profit of 10 million Euro in the 2020 financial year. This figure represents a reduction of 52 million Euro compared to 2019. This decrease is directly related to the 48% drop in passenger transport revenues caused by the COVID-19 health crisis.
In addition, there are other consequences derived from the pandemic, such as the lower turnover from the sale of ticket, which has experienced a similar drop to the fall in passenger numbers. The same has happened with commercial revenues from shops and advertising displayed in the company's facilities due to the drastic decrease in the number of users of the Metro network.
During 2020, the Madrid public company has faced challenges such as managing the health crisis caused by COVID-19 without ceasing to provide services even in the most difficult moments of the pandemic; dealing with an unprecedented drop in demand in the company's history; and ensuring the health and safety of both its users and its workers, in a context marked by uncertainty.
The increase in debt by 64 million Euro has enabled the company to face this situation of lower resources generated by the company with a fall in operating profit of 55 million Euro, and prepares the suburban network for the context foreseen for 2021 due to the evolution of demand in these first months of the year, which is similar to that of 2020.
METRO ON THE MOVE FACING THE PANDEMIC
Over the last year, Metro de Madrid has strengthened its workforce by hiring 145 new train drivers and has drawn up the tender documents for the acquisition of 60 new trains. Investments worth 135 million Euro have also been made to upgrade and renovate facilities on line 4 and in stations such as Plaza Elíptica, Bilbao and Alfonso XIII, which now also have lifts.
On the other hand, maintenance contracts have been awarded for all the lines in the network (with the exception of Metro Ligero 1 and the Canillejas Depot) as part of the Maintenance Plan, with a total investment of over 35 million Euro.