Estradas de Portugal managed to stay in the black in the first half of 2013 with a net profit of €14 million, according to a trading statement issued today.
Toll revenues increased 13% over the period, raking in €108 million despite traffic volume falling, most especially on the Via do Infante where traffic is down 70% from the pre-toll days.
The money Estradas de Portugal receives from a cut in fuel sales fell 6% to €243 million, compared with €258 million in the same period last year.
Despite complaints from transport sector bosses, Portugal’s 2014 budget contains rises in the percentage form fuel sales that is handed over to Estradas de Portugal.
On the expenditure side, the statement notes that "significant gains have been achieved, especially in the management of contracts and other supply chain services abroad."
For the second half of 2013 the company will continue to renegotiate highway concessions and to save about €300 million.
On the expenditure side, the publicly owned company estimates savings of €10 million per year from contract savings and €30 million per year through the continued development of the new toll collection service.
Estradas de Portugal boss António Ramalho expects to finish the year in positive territory due mainly to cost savings rather than improved income.
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