Infrastructure Portugal. Debt amounts to 8230 million – Express

With a debt of 8,230 million euros, Infrastructure Portugal (IP) submitted to the shareholder State, in the first quarter 2016, an increase in profits of EUR 4.2 million year on year. Tolls yielded more and road contribution also

On the day he celebrated one year of activity. – To 1 June – after the merger of the Portugual Roads and the National Railway Network (REFER) , the president of IP, Antonio Ramalho, meets the proposed objectives, an increase in profits to the state: in the first quarter of the year IP ensures a net profit of 10.6 million euros, or over 4.2 million eurosque in the same period 2015.

The merger of the road and rail networks had been presented as a way to leverage synergies in the management of infrastructure. Unlike other projects that emerged in the government of Pedro Passo Coelho and were scrapped by the government of António Costa, the strategy followed for the IP was reconfirmed by the current PS government.

And the president of IP, Antonio Ramalho, has met the schedules submitted to the shareholder State, communicating now that the operating results of the IP – EBITDA -. increased 7% in the first quarter, year on year, reaching 160 million Europs

for this growth contributed to the revenue side, the positive performance of the toll that into place 75 million euros, 8% more than in the same period of 2015. And the road service contribution increased by 8%, reaching EUR 163 million.

in the railway infrastructure, IP was also graced by the luck: revenues increased by 2.5% by the additional services increase because “the use rate of passenger trains remained virtually unchanged,” said the institution chaired by António Ramalho. The behavior of the segment of goods, was not favorable, given that the rate of use of goods fell by about 10%.

On the costs side, spending on conservation grew 3.6% on the highway and 4.5% on the railway due to maintenance work imposed by a rainy winter.

But reduction of 3,800 workers also led to an increase of 6.6% in personnel costs, year on year. On the one hand, the IP had to face the costs of termination and, on the other hand, had to increase the amount of the compensation due to the reversal in 20% of wage reductions.

The IP ended the first quarter with 3,305 million euros of capital, due to the capital increase of 210 million euros. Its debt in nominal terms, amounted to 8,230 million euros.