Lisbon, June 25, 2026 (Lusa) - Profits at state-owned rail passenger company CP more than doubled in 2025 compared with 2024, reaching €4.9 million, whilst passenger numbers rose by 10.9% to exceed 208 million – “a new record for this century”, the rail operator announced on Thursday.
In a statement, CP – Comboios de Portugal highlighted that this marks the fourth consecutive year of positive net results, which “led Statistics Portugal (INE) to reclassify CP as a market entity, removing it from the State’s budgetary scope, thereby demonstrating the strengthening of its economic and financial soundness and its autonomy within the context of the public business sector”.
According to the operator, growth in traffic revenue, which reached €282.8 million, and an increase in the volume of maintenance services provided to third parties, amounting to €21.4 million, underpinned its financial performance in 2025.
CP highlighted the “new record for this century” in the number of passengers carried, “consolidating the trend towards increased use of rail transport in Portugal” and “simultaneously contributing to reducing the carbon footprint, strengthening territorial cohesion and improving citizens’ quality of life”.
Among the main factors contributing to this increase, it highlights the impact of the Green Rail Pass, which “broadened access to rail travel and encouraged the use of more sustainable mobility solutions”, the expansion of the Alfa Pendular service, the reopening of the Beira Alta Line and the resumption of passenger services on the Leixões Line.
As it pointed out, “these results were achieved within a very demanding operational framework, with the company’s activity continuing to experience limitations in the railway infrastructure, notably due to ongoing modernisation works, which are essential for improving the network, and speed restrictions, which have impacted the punctuality of services”.
Quoted in the press release, the operator’s Chair, Pedro Moreira, described 2025 as “a significant year in CP’s transformation journey, in which, even within a particularly challenging context for rail operations, the company demonstrated its ability to evolve, modernise and prepare for the future”.
The company also highlighted that the past financial year saw the “largest ever investment in rolling stock”, with the arrival of the 22 new trains for regional services (€158 million) and the signing of the contract for the acquisition of 117 new electric multiple units, which has since been expanded to include 36 additional units and the early delivery of the rolling stock (€1.064 billion).
“This is CP’s largest ever investment in this area, which will enable us to modernise the fleet and improve the service provided to passengers,” the company emphasises.
Earlier this year, the transport operator noted that it launched a tender for the supply and maintenance of 12 high-speed trains for passenger service, with a base price of €504 million and the option to purchase a further eight trains.
At the same time, it said it has continued its strategy of digital transformation and innovation, with new digital channels, real-time information solutions, and the modernisation of ticketing systems, including the roll-out of new ticket vending machines that are “simpler and more accessible” to use.
Internally, it has reached an agreement with all trade unions regarding the revision of pay scales, which it highlights as “a significant step towards valuing staff and strengthening organisational stability”.
“The results achieved reflect the commitment and professionalism of all CP employees, whose contribution was crucial to meeting the strategic objectives and to the successful implementation of the company’s transformation programme,” the chair concluded.
PD/ADB// ADB.
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