CP now has greater autonomy and management flexibility

The company is expanding beyond the state perimeter, whilst fully maintaining its public rail service mission

CP – Comboios de Portugal is no longer included in the State’s budget perimetre and is now classified as a market entity for statistical purposes. 
The decision stems from the application of European rules on the system of national accounts, defined by Eurostat, according to which an entity is considered a commercial entity when it covers the majority of its costs through its own revenue. 

This means CP’s accounts are no longer consolidated within the General Government sector and no longer count directly towards the public deficit.

The new institutional legal framework allows for a reduction in the application of stricter budgetary rules, strengthening its financial and managerial autonomy and represents an adaptation of CP’s organisational model to an approach more in line with corporate management, conferring greater autonomy and agility in decision-making. 

By 2027, CP will be in a better position to plan and execute strategic investments, particularly in the renewal and modernisation of the fleet, in enhancing service reliability and in improving the quality of the service offered to customers, within a context of strengthening its capacity to respond to the demands of the railway system and the needs of passengers.

The exit from the State’s remit translates into a strengthening of CP’s management responsibility and a sign of confidence in the company’s maturity and capacity to operate under a more modern, efficient model aligned with developments in the railway sector.

Despite this change, CP remains within the State Business Sector and is subject to the obligations and mechanisms of transparency, supervision and control applicable to the sector. 

This represents an evolution of the company’s institutional framework, without calling into question its nature as a public rail operator or the state’s commitment to citizens’ mobility and territorial cohesion. 

This development does not affect the provision of the public rail service, which remains fully guaranteed, with public service obligations continuing to be defined, regulated and guaranteed by the state through the Public Service Contract, as well as the supervision and regulation mechanisms applicable to the State Business Sector. 

CP will be better placed with the liberalisation of the rail sector, to operate in competitive markets, particularly in high-speed services. 
At the same time, CP remains a state-owned company serving the country to ensure a high-quality, reliable and sustainable rail service, with greater autonomy to fulfil this objective.

“CP’s mission remains unchanged; what has changed is merely the institutional legal framework that allows us greater autonomy, within a framework that seeks to reconcile efficiency, sustainability and the public interest, whilst simultaneously entailing greater responsibility for us to continue to guarantee, with rigour and commitment, CP’s future sustainability,” Pedro Moreira, Chairman of CP’s Board of Directors, said stressing that the company has achieved positive results in recent years.