2016: Profit for third year running –
Empresa de Manutenção de Equipamento Ferroviário, S.A. (EMEF) ended the 2016 financial year with a profit of 3.4 million euros, as opposed to 1.3 million in 2015 and 900,000 euros in 2014.
EBITDA (without compensation) also grew substantially to 5.6 million euros in 2016, while turnover increased by around 10% to 63 million euros.
Alberto Castanho Ribeiro, CEO of EMEF, said that this series of good financial and operational results was proof of the sustainability that the company had achieved in recent years thanks to greater efficiency and optimisation of human and material resources.
He added that EMEF also reduced its indebtedness to financial institutions in 2016, and this repositioned the company in the banking sector’s perspective. EMEF has been progressively reducing its overall debt since 2013 (23.8 million euros), and at the end of 2016 it stood at 15.6 million euros.
The start of major projects for the renewal of rolling stock and our attraction of new customers meant that in 2016 we were able to hire around 100 more workers to reinforce the teams at the north and centre workshops.
In operational terms, 2016 marked the beginning of our in-depth refurbishment of the Alfa Pendular trains and the confirmation of new contracts with customers other than the CP group. One was with Prometro / Metro do Porto, which provides for maintenance of its tram train and Eurotram vehicles built by Bombardier, and another was with Fertagus.
Our workshop facilities underwent improvements throughout the company, though with special focus on the Centre and South Unit Workshops. This involved investments of 1.3 million euros.
It was also in 2016 that EMEF drew up a Digital Strategy aimed at improving and modernising business processes and making them more efficient and capable of leading its business sector. The strategy focuses on mobility solutions, dematerialisation of processes with new IT systems and real-time information to support decision making and increase productivity.
Return to investments
Our project to set up a new wheelset maintenance and repair unit at EMEF’s Centre Unit Workshop in Entroncamento is at an advanced stage of development. The building of this unit will represent a major investment by EMEF in expanding its production and export capacity not only for the Iberian market but also for the wider European market. Investment in this undertaking may total around 7.5 million euros.