Summary
of results

*2022 Consolidated Annual Report excerpts

Subsequent events

In line with what had been successively experienced, the beginning of 2023 was marked by a continuous increase of the inflation rate. In an attempt to counteract the inflationary spiral, the European Central Bank (ECB) continues to apply gradual increases of reference interest rates.

Effectively, and although the aggregate relative to energy products stood at 1.9% in relation to February 2022, confirming the trend towards energy price stabilization, the inflation rate in 2023 has remained high, primarily levered by the category of Food and non-alcoholic beverages, the variation of which stood at 21.50%, the highest value since May 1985, according to data of the National Institute of Statistics (INE).

Outlook

In the year under review, ML faced many without, however, deviating from the set strategic objectives and from its mission of providing an effective quality public service. Therefore, in addition to the strong commitment to the daily service provision, ML will continue to be strongly committed to its investment projects, namely the network modernization and expansion projects, taking the metro to increasingly more people and asserting itself as a true public service provider and active agent in a more sustainable mobility. ML intends to be at the very forefront of urban mobility and with an innovative and continuous improvement attitude.

Proposal for the appropriation of profits

During 2022, the Metropolitano de Lisboa group of companies presented negative consolidated net income of 21,138,782.19 euros (twenty-one million, one hundred and thirty-eight thousand, seven hundred and eighty-two euros and nineteen cents), and negative net income in the individual accounts of 21,135,399.74 euros (twenty-one million, one hundred and thirty-five thousand, three hundred and ninety-nine euros and seventy-four cents).