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Increased demand causes STCP revenue to rise by 6.5 million in 2023
The transport revenue of Sociedade de Transportes Coletivos do Porto (STCP) rose by 6.5 million euros in 2023 to 51.7 million euros "thanks to the increase in demand", the company announced today, after the approval of accounts.
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Economia STCP
"2023 revenues increased by 1.9 million euros to 71.2 million euros. This performance was helped by a 6.5 million euro increase in transport revenue compared to 2022, bringing this indicator to 51.7 million euros, thanks to increased demand", can be read in a statement released today by STCP.
The six shareholder municipalities of the carrier (Porto, Vila Nova de Gaia, Matosinhos, Maia, Gondomar and Valongo) today unanimously approved STCP's accounts, which recorded a recurring EBITDA (earnings before interest, taxes, depreciation and amortization) of 7.9 million euros, a negative non-recurring result of 1 million euros and a neutral financial result.
In 2023, "Operating expenses were 70.2 million euros, decreasing by about 9.5 million euros compared to 2022", and the decrease was "essentially the result of the reduction in energy costs that has been seen since the beginning of the year and has remained stable since then".
STCP also states that it made an investment in sustainability in the amount of 22 million euros, including the acquisition of 48 new electric buses (18.5 million euros, co-financed by 7.3 million euros from the Recovery and Resilience Plan) and the requalification of the Via Norte collection station.
After the Mayor of Porto announced in January of this year that STCP had transported 73.2 million passengers in 2023, provisional figures, the company today updated the figures, revealing that total demand exceeded 74 million passengers.
The company highlighted "the growth in passengers using the Electric Tram tickets, where there was a growth of over 23% in demand due to the tourist interest in these historic vehicles, even though the operation of the Electric Tram is limited to only two lines due to the works on the Pink Line" of the Porto Metro.
"STCP also ends the 2023 financial year with a workforce of 1324 employees, excluding corporate bodies, seconded and unpaid leave and including those on loan. The average workforce last year was 1319", the company also notes.
STCP's capital and shareholdings were transferred in 2021 from the State to the municipalities of Porto (53.69%), Vila Nova de Gaia (12.04%), Matosinhos (11.98%), Maia (9.61%), Gondomar (7.28%) and Valongo (5.4%).
Also Read: STCP launches a 3 million euro tender to buy eight electric buses (Portuguese version)
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