Tuesday, February 27

The TramBaix concessionaire distributes the 7.44 million profit for 2020 as a dividend

Metropolitan tram, S. A, the Baix Llobregat tram concessionaire (Trambaix) will distribute as dividend of 7.4 million profits obtained in 2020, with a decrease of 20%; worst exercise ever pandemic, according to the data deposited in the Mercantile Registry. The company, whose main shareholders are Globalvia, Marfina (Moventia) and Alstom and that has public companies TMB Y Generalitat Railways as minority partners with 2.5% each, it entered 33.9 million euros, with a decrease of 6%, more limited by the subsidies and contributions provided by the public sector.

Finally, an agreement has been reached so that the same company, which operates with the same shareholders through Besòs Metropolitan Tramway, the TramBesòs, also manages the central section of the tram along Barcelona’s Diagonal. The private will continue to earn money, but the industrial benefit will fall by 40% and will be placed at market price, the profit will be resized by the amount generated by the new demand, advertising is distributed better for the public interest and, most importantly, The canon derived from the initial investment of the work disappears, according to EL PERIÓDICO DE CATALUNYA.

The 2020 accounts of the TramBaix concessionaire have not been known until now because there was “a formal defect”, according to sources close to the company. According to company data, the number of validations in 2020 was 11,077,194, with a reduction of 45.23% compared to 2019, due to the pandemic. The forecasts for 2021, a year that has not yet ended, are that validations, 13.3 million, increased by 19% and revenue from validations, 34 million, 4.18%, and profit, 8.4 million, increased 13.49%.

14 million in 2020

One of the characteristics of these concessionaires is that they usually distribute profits generously among its shareholders, with the exception of the first four or five years at the beginning of the concession. Even the most critical admit that there is no legal impediment to this being the case. The TramBesòs concessionaire agreed to distribute the 6.8 million earned in 2020 as a dividend, to which is now added the 7.4 million from the firm that operates the TramBaix, which represents about 14 million.

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Both companies have the same shareholding, with the infrastructure manager Globalvía, owned by the pension funds, OPTrust (Canada), PGGM (Holland) and USS (United Kingdom), with more than 40% of the capital; followed by Marfina (Moventia family group company), with 20% and the French train manufacturer Alstom, with 19%. In addition to the 5% public participation between Metro and Ferrocarrils, other shareholders with small participations are the French public transport operator Transdev, the Catalan Comsa Emte and FCC.

Since they began to operate, the two companies have added almost 220 million euros in profits, of which they have distributed about 200 million among their shareholders, with a contribution of almost 42 million euros. The rest is bank debt. There are exercises in which companies have provided more dividends than the profits obtained. It happened for example in 2010, when Tramvia Metropolità del Besòs distributed more than 27 million in dividends, with a profit of 4.9 million.