EMEF – Empresa de Manutenção de Equipamento Ferroviário, S.A. closed the financial year in the black, for the second consecutive year.
The company achieved profits for 2015 of 1.378 million euros (EBITDA of 3.1 million euros), up by 52% on the profits recorded in 2014.
With turnover up by 6% to 58 million euros, EMEF was also successful in cutting its total liabilities by around 20% (approximately 600,000 euros) in relation to the previous year.
In 2016 EMEF has started work on three major projects, with a total value of around 40 million euros:
- complete refurbishment of the Alfa Pendular trains, over the next three years, for the amount of 18 million euros;
- general 960,000 km servicing of 35 vehicles in the Metro do Porto’s Eurotram fleet, for the amount of 10.6 million euros;
- light maintenance of the entire Metro do Porto fleet, over the next two years, for the amount of 11.3 million euros.
With these contracts in view, EMEF started a recruitment process in April, in order to hire a further 85 skilled workers to expand its teams at its workshops in Guifões and Entroncamento.
Alberto Castanho Ribeiro, CEO of EMEF, pointed out that these results have been achieved in the wake of measures to improve management efficiency at EMEF. Efforts have focussed on improving productivity, cutting costs and searching for new clients and markets. EMEF can now look confidently to the future, above all if it ensures its ability to compete on international markets, in particular in Europe and the Iberian peninsula.
In the context of this paradigm shift, a new management model was implemented at the end of the first quarter of 2016. This is based on business units (starting with Parque Oficinal Centro, in Entroncamento) and designed precisely to focus teams on management by objectives and on boosting efficiency and productivity in the company. At the same time, work is under way on computerising processes in order to allow for a broad and flexible flow of data and information between company staff.