Pre-tax profits at Luas operator Transdev reduce by 61%
Luas
reduced by 61 per cent to €3.53 million in 2023.
Accounts filed by Luas operator, Transdev Dublin Light Rail Ltd (TDLR) show that the company recorded the sharp decrease in losses as revenues rose by 13 per cent from €81.7 million to €92.38 million.
In a note with the accounts the directors said that losses reduced by 61 per cent 'mainly due to the improvement of the operational performance and exceptional energy index in December 2022'. The energy index relates to the efficient consumption of energy.
Concerning a tram damaged during the Dublin Riots, the note said that on November 23rd 2023, 'a riot occurred in Dublin City Centre where tram #5037 was blocked by those involved'.
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The note went on to say that 'the tram driver evacuated all passengers and secured the tram, so nobody was injured during the event. The tram was set alight during the riot resulting in severe damages. The tram is currently being repaired and is scheduled to be back in service at the beginning of 2026'.
Asked to quantify the costs of the damage a spokeswoman for Transdev said on Wednesday: 'As this matter is currently before the courts, we are unable to comment further. The details are also commercially sensitive.'
David McWilliams on how 'big incentives' to build could save Dublin city
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36:51
Commenting on the performance of the business in 2025, the Transdev spokeswoman said: 'In 2025, we are seeing record levels of performance and passenger numbers, reflecting strong public confidence and the essential role Luas plays in Dublin's transport network'.
A key trend from last year which continued in 2025 for the Luas was a notable increase in weekend travel, driven by growing demand related to retail, events, and leisure.
In 2024, Luas recorded 54 million passenger journeys, reflecting a strong and sustained recovery following the pandemic, it said.
The 54 million passengers in 2024 was a 12 per cent increase on the 48.2 million passengers in 2023.
Last year, Transport Infrastructure Ireland (TII) put an estimated value of €1.75 billion on the new Luas operation and maintenance contract.
The note attached to the Transdev accounts noted that the current contract would expire at the end of November 2025.
The directors said that the timeline had been extended to August 2026 to facilitate the tender process for a new contract, incorporating operations and asset maintenance activities for the Luas light rail system.
Staff numbers in 2023 increased from 603 to 648 as staff costs rose from €33.66 million to €37.16 million.
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