Business · Companies · 8 hrs ago
Renfe returned to profit in 2025 as commuter train disruptions rose
Spain’s state-owned rail operator Renfe made a €60.2 million profit in 2025, its first annual profit in six years.
Revenue from tickets rose even as the number of passengers fell slightly, in part because passengers again paid for some publicly funded services after free travel passes ended on July 1.
Renfe also carried more passengers on high-speed and long-distance routes, where it competes with Iryo and Ouigo.
But major disruptions on Madrid’s Cercanías network rose nearly 70%, from 540 in 2024 to 905 in 2025.
The share of scheduled trains cancelled there also increased, from 1.58% to 2.09%.
Renfe says not all rail problems are its responsibility, because Adif mainly manages tracks, signals and train movements; the company says its return to profit reflects stronger demand, commercial income, more efficient management and international business.
Renfe reported a profit of €60.2 million in 2025, its first annual profit in six years.
The company had recorded a loss of €2.9 million in 2024.
Ticket revenue rose 19% to €2 billion, even as passenger numbers fell 0.7% to 531.4 million.
Renfe attributed the improvement to higher demand and commercial revenue, more efficient management and international diversification.
At the same time, major incidents on Madrid commuter rail rose from 540 to 905, while the share of scheduled trains cancelled increased.
- Who
- Renfe, Spain’s national rail operator.
- What
- It reported a €60.2 million profit in 2025 as disruptions on commuter trains rose.
- When
- In 2025; the results were reported in an article published on October 13, 2026.
- Where
- Spain, including Madrid’s Cercanías commuter rail network.
- Why
- Renfe cited growth in demand and commercial revenue, more efficient management and international diversification.
This story does not have two clearly opposing sides.
Renfe began facing competition in high-speed and long-distance services from Iryo and Ouigo.
Free recurring passes for services subject to public service obligations ended.
Renfe recorded a profit of €60.2 million, while major incidents on Madrid Cercanías increased to 905.
El País published its report on Renfe’s results and passenger disruptions.
- Net profit
- €60.2 million in 2025, compared with a €2.9 million loss in 2024
- Ticket revenue
- €2 billion, up 19%
- Passenger numbers
- 531.4 million, down 0.7%
- Madrid Cercanías major incidents
- 905 in 2025, up from 540
- Cancelled scheduled trains
- 2.09% in 2025, up from 1.58%
What people are saying
We believe the recovery in 2025 has the elements needed to maintain this trend of economic stability and sustainability in the coming years
The impact is localized, as in the Spanish market with Ouigo
Sources
Related news
IMF raises Spain’s 2026 growth forecast to 2.5%
China will halve tariffs on Spanish olive oil from 2027
Spain’s Ibex seeks to hold gains as AI-linked stocks fall in Asia
Spanish employers must notify staff of internal job vacancies
Asterion agrees to buy French vehicle rental company Fraikin for about €2bn
IMF raises 2026 global growth forecast as AI investment offsets war pressures
AI-native companies are growing with far fewer employees
Workdays lost to strikes in Spain nearly double 2025 total in eight months
Spain looks to private investment for public infrastructure projects
Legal uncertainty is making property investors cautious in Spain
Spain expects Financia Europa account to increase tax revenue
