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Leo Express closes 2023 with profits

The operator leaves losses behind and expects to close 2024 with revenues doubling compared to last year.

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Leo Express, the private Czech operator 50% owned by Renfe, announces a return to profitability and a consolidation of its financial situation in 2023. The company closed last year with revenues of 24.4 million euros and transported more than 1.7 million people.

These figures represent significant growth for the company, which has managed to reverse the previous year’s loss of 124,000 euros and report a profit of 165,000 euros in 2023.

In addition, Leo Express has managed to repay all its bank loans, further strengthening its financial position. This achievement has been possible thanks to the economic stabilisation of the company, driven by the entry of Renfe in its capital and the decrease in the impact of the pandemic.

In December 2023, Leo Express, debuting the slogan Powered by Renfe, launched a new OSP service connecting Bratislava with Komárno in Slovakia. This connection is provided with 21 Coradia LINT 41 units, registered in Germany as series 648, which Renfe Alquiler de Material Ferroviario leases to Alpha Trains, which leases them to Leo Express.

Leo Express expects to exceed 40 million euros in revenue in 2024

The Spanish public operator stresses that the cooperation between Renfe and Leo Express has been the key to this contract, which is expected to allow Leo Express to almost double its results in 2024.

Leo Express plans to exceed 40 million euros in revenue for the current year and reach 3.5 million customers.

Peter Köhler, CEO of Leo Express, expressed his satisfaction with these results: “We have more than doubled the output and performance of the Leo Express Group by 2023, improving profitability and probably exceeding 40 million euros in revenue by 2024, with a target of 3.5 million customers. Our vision remains the same: to become the leading alternative passenger rail operator in Central Europe”.

Renfe acquired a 50% stake in Leo Express in 2021 and became its main shareholder. At the end of the same year, it took control of the Board of Directors, which is chaired by Manel Villalante.

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