- The annual accounts for the last financial year, the management report and the report on compliance with the economic and the financial obligations were presented at the Board of Directors meeting
- The update of the FGV Code of Good Governance, Gifts, Attentions and Courtesies was approved at the same meeting
The Board of Directors meeting of Ferrocarrils de la Generalitat Valenciana (FGV), chaired by the Minister of Territorial Policy, Public Works and Mobility, Arcadi España, has prepared the annual accounts for the year 2020, as well as the management report and the report on compliance with financial obligations.
In 2020, FGV registered 44,034,106 users, of which 36,984,259 corresponded to Metrovalencia and 7,049,847 to TRAM d’Alacant. The data reflects 45.99 percent fewer journeys than in the previous year, when 81,533,731 journeys were recorded.
In 2020, the operating income decreased by 35 million euros, down 46.23% compared to 2019. Regarding operating expenses, the public company closed the 2020 financial year with an operating allocation of 133 million euros.
In the investment section, the report presented highlights that the year has closed with 35.5 million euros allocated to various proceedings in Valencia and Alicante and with a level of implementation of 100%. Concerning the amount allocated to investments, 16.9 correspond to interventions on the Metrovalencia network and 18.6 to the TRAM d’Alacant.
As explained by FGV’s managing director, Anaïs Menguzzato, last year’s accounts “have logically been affected by the impact of the health crisis caused by COVID-19, with a clear decline in revenue, resulting from the decrease in passengers and travellers”.
Updating the Code of Good Governance
The update of the FGV Code of Good Governance, Gifts, Attentions and Courtesies was also approved at the same meeting. The approved modifications affect the section on compliance, in which it is stated that all public company personnel who access, or are currently at levels 10 to 18 or senior management, must obligatorily adhere to this code by means of a written document.
During the same session, the Board also approved the modification of the basic management organisation chart with the creation of an Occupational Risk Prevention unit, hierarchically and functionally dependent on the Human Resources Area, and the incorporation of the Cybersecurity service into the Security and Civil Protection unit.
