The operator generated income of €1.05bn in 2018, up more than 6% year-on-year, with expenses totalling €983m. Demand increased by 5% to 657 million passengers, while operating costs were steady, increasing by only 2%.

The company used the resulting profit to make investments of €88m and reduce financial costs by 40% from €14m in 2017 to €8.5m in 2018.

Metro Madrid improved its solvency over the past four years, reducing debt by 7% from €686m to €637m.

The European Investment Bank has granted a line of financing of up to €200m for improvements to the network over the coming years. In 2018, the first tranche of €85m was drawn down with a term of 20 years and a four-year grace period on the principal loan. This was followed by a second tranche of €50m with the same terms and conditions drawn down in February.

The operator has also invested €365m in infrastructure, facilities renovations and fleet renewals between 2015 and 2018.

In October last year, the regional government of Madrid announced it was purchasing more trains and hiring extra drivers to meet the increase in passenger numbers on network.