Mozambique: CFM carried 7M passengers in 2024, operating profit up 55%

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Mozambique: CFM carried 7M passengers in 2024, operating profit up 55%

9:07 CAT | 15 Apr 2025

FILE - For illustration purposes only. [File photo: AIM]

The operating results of state-owned Porto e Caminhos de Ferro de Moçambique (CFM) rose by 55% in 2024, to almost 2.52 billion meticais (€34.7 million), and more than seven million passengers were carried, the board announced.

According to information from the chairman of CFM’s board of directors, Agostinho Langa, that Lusa saw on Monday, this performance contrasts with the operating result of 1.63 billion meticais (€22.5 million) in 2023, a balance that is still provisional but already considered “positive”, despite “constraints” in 2024, namely the impacts of several months of post-election social unrest.

READ: Mozambique: Post-election disturbances cost CFM €14 million

CFM’s pre-tax profits last year exceeded 4.35 billion meticais (€60 million), half of the 8.7 billion meticais (€120 million) forecast.

In terms of planned investments for 2024, the company invested 7.61 billion meticais (€105 million), representing a 95% realisation of the plan. The railway operated by CFM “consumed” 68% of the total, equivalent to 5.15 billion meticais (€71 million), namely “in line rehabilitation projects and the acquisition of rolling stock,” such as wagons and locomotives.

He said that the process of acquiring 250 wagons for transporting minerals and 15 locomotives is underway, three of which will be received this month.

On the lines operated by CFM, around 12.9 million net tonnes were transported, an increase of 4% compared to 2023, meeting 84% of the stipulated target, and 7.1 million passengers, a year-on-year increase of 2%.

CFM’s port area saw “a slight increase” in 2024, with the company handling 66.5 million tonnes, compared to 63.4 million tonnes in 2023.

“At the terminals under CFM’s management, around 13.2 million metric tonnes were handled during the period under review, compared to 12.3 million tonnes handled in 2023, which represents a growth of around 8% compared to 2023 and a 96% achievement of the plan,” added the chairman of the board of directors.

For Agostinho Langa, these results “are a breath of fresh air” for the company, which has “a central role in Mozambique’s economic and social development, serving as a vital link between the national production centres and the national, regional and international markets, ensuring the mobility of people and goods”.

Source: Lusa