STCP Walks Its 2025 Operational Year Out at 71.8 Million Passengers and €2.9 Million Lucro Líquido — Porto's Public Transport Operator Books a Second Consecutive Year in the Black
STCP — Sociedade de Transportes Colectivos do Porto — closed the 2025 operational year at 71.8 million passengers carried and a €2.9 million lucro líquido, posting a second consecutive year in the black against a heavy fleet-electrification and Andante-integration capex tape.
The Sociedade de Transportes Colectivos do Porto (STCP) published on Thursday 14 May 2026 the operational and financial results for the 2025 fiscal year. The Porto-metropolitan-area public transport operator closed the year at 71.8 million passengers carried — the highest annual ridership the bus, electric tram and funicular network has recorded in modern post-restructuring history — and a €2.9 million lucro líquido, the second consecutive year the company has closed in profit since its 2017 transfer back to municipal ownership.
Passenger ridership keeps the post-2022 climb intact
The 71.8 million print sits above the 70 million benchmark that STCP's management team flagged as a 2025 ridership floor at the start of the fiscal year. It also confirms an extended recovery trajectory off the pandemic-trough ridership of 2020-2021 — when the network handled roughly half this volume — and continues the climb past the 2019 pre-pandemic baseline. The ridership read is consistent with parallel growth in the wider Andante tariff-integration system that links STCP, Metro do Porto and CP suburban rail, and reflects the structural shift toward public-transport modal share in the Greater Porto area following Andante's 2023 tariff simplification.
€2.9 million profit lands against heavy capex
The €2.9 million net profit is broadly flat against the prior year. STCP's management characterised the result as evidence of "resultado positivo aproximado de 2,9 milhões de euros, demonstrando uma gestão financeira sólida apesar de operar num contexto exigente." The contextual demands referenced span continued fleet-electrification investment — STCP has been progressively retiring its diesel bus fleet in favour of electric vehicles under a multi-year programme co-financed by the Plano de Recuperação e Resiliência — and operational pressure tied to driver labour-market tightness across the Metropolitan Area of Porto.
The repeated black-ink prints under the 2024 and 2025 fiscal years stand in sharp contrast to the loss-making decade the company posted under the 2010-2017 concession to Lisbon's Metro authority. Since the November 2017 retransfer of STCP to the Porto-municipality consortium — which integrates the Câmaras of Porto, Matosinhos, Vila Nova de Gaia and Gondomar — the operator has progressively closed its operational deficit and started self-funding part of its renewal capex.
What sits in the 2026 file
STCP enters 2026 with three large operational files open. The first is the continued fleet electrification — the operator has ordered additional electric vehicles for delivery across 2026-2027 to push the electric/diesel mix past the 50% threshold. The second is the Andante tariff reset — the November 2025 Conselho de Ministros decision to harmonise Andante zonal pricing with the AML-Metropolitan-Lisbon Navegante system applies progressively across 2026 and is expected to shift the company's farebox/subsidy mix. The third is the line-network expansion tied to the Casa da Música/Boavista and Campo Alegre bus-priority corridors that Porto Câmara is co-financing alongside the Metro do Porto Pink Line works.
Against the broader Portuguese mobility tape — where Carris in Lisbon has posted larger absolute ridership numbers but a structurally loss-making operating account — STCP's two-year profit run is the strongest profitability signal among Portugal's metropolitan transport operators. The company's next financial read is the half-year filing in late August 2026.
