Investors
Introduction
Metro is the main actor of the public transport inside the Metropolitan Region
Metro de Santiago is a Chilean state-owned company and a key player in the country’s urban mobility. As an essential part of the Metropolitan Mobility Network (RMM), it accounts for more than 70% of the trips made on the public transportation system and carries over 2 million passengers every day.
It is critical infrastructure for the city and is committed to operational excellence, sustainability and the strategic development of the capital.
Latest reports
Financial statements as of June 2026
Operational indicators
Data as of June 2026 (LTM)
Business model
Revenue breakdown. A solid fare base and a growing non-fare component that diversifies revenue sources. LTM data as of June 2026.
Ticket sales: every trip validated on the Metro network.
Passenger transport
Revenue from validations on the network, set by the technical fare of the Metropolitan Mobility Network.
Complementary businesses built on network flow.
Payment systems
Administration of the bip! card and its top-up network.
Flow-based businesses
Retail store leases and advertising in stations, drawing on passenger flow.
Modal integration
Parking, bicycle facilities and connection with other modes of transport.
Real estate
Development and lease of land and buildings associated with the network.
How they relate
Non-fare businesses complement and integrate with the fare business, helping to strengthen Metro’s financial sustainability by diversifying its sources of revenue while also enhancing the user experience through the provision of services and solutions that extend beyond transportation.
Revenue and EBITDA
USD million · FX 922.21 CLP/USD as of June 30, 2026
Total revenue
USD MM · fare and non-fare revenue
EBITDA
USD MM · 2020 negative due to the pandemic
Credit ratings
Information as of June 2026
Local ratings
International ratings
Future projects
Strategic investments
Expansion summary
By 2033, the network will serve 7 million people.
Investment pipeline
USD 7,794 MM
remaining to be executed as of the close of June 2026, out of a total pipeline of USD 9,550 MM
Expansion data compared to the network as of the end of 2025.
Network map with the new lines
1 new station and 3 km of new track in the municipality of Cerrillos, with a connection to the Melipilla–Santiago train.
19 new stations and 26 km of new track connecting the municipalities of Renca, Cerro Navia, Quinta Normal, Santiago, Providencia, Las Condes and Vitacura.
1 new station and 6.5 km of new track linking the city directly with Arturo Merino Benítez Airport, from the future Huelén station on Line 7. It will serve Cerro Navia, Pudahuel and Lo Prado.
14 new stations and 19 km of new track serving the municipalities of Providencia, Ñuñoa, Macul, La Florida and Puente Alto.
19 new stations and 27 km of new track connecting the municipalities of Santiago, San Joaquín, San Miguel, La Granja, San Ramón and La Pintana.
Debt structure
Data as of the end of June 2026
In order to minimize the financial risks associated with exchange rate fluctuations, Metro maintains instruments that allow for diversification of debt by type, location and currency.
By type
By location
By currency (including CCS)
Financial debt maturity profile
USD MM · amortizations only, interest not included
(*) Source: Metro de Santiago Corporate Presentation, June 2026.
Documents
Presentations, green financing, annual report and all regulatory filings since 2008.
Green Finance
2026
Green financing framework 2026 » PDF (898 Kb) Green finance annual allocation 2026 » PDF (2,5 Mb) Verification of allocation report 2026 » PDF (133 Kb) SPO Green financing framework 2026 » PDF (158 Kb)2025
Green Finance annual allocation 2025 » PDF (2,5 Mb) SPO Use of proceeds 2025 » PDF (364 Kb)2024
Green Financing Framework 2024 » PDF (1,1 Mb) SPO Framework 2024 » PDF (366 Kb)
Regulatory filings
| Period | Document | Size | Download |
|---|---|---|---|
| June 2026 | Financial Statements | 2109 Kb | |
| June 2026 | Management, Discussion and Analysis of the Consoli | 515 Kb | |
| March 2026 | Financial Statements | 1767 Kb | |
| March 2026 | Management, Discussion and Analysis of the Consoli | 671 Kb | |
| December 2025 | Management, Discussion and Analysis of the Consoli | 631 Kb | |
| December 2025 | Financial Statements | 1582 Kb | |
| September 2025 | Management, Discussion and Analysis of the Consoli | 924 Kb | |
| September 2025 | Financial Statements | 2415 Kb | |
| June 2025 | Management, Discussion and Analysis of the Consoli | 442 Kb | |
| June 2025 | Financial Statements | 2209 Kb | |
| March 2025 | Management, Discussion and Analysis of the Consoli | 391 Kb | |
| March 2025 | Financial Statements | 2787 Kb | |
| December 2024 | Financial Statements | 2099 Kb | |
| December 2024 | Management, Discussion and Analysis of the Consoli | 359 Kb | |
| September 2024 | Management, Discussion and Analysis of the Consoli | 431 Kb | |
| September 2024 | Financial Statements | 2561 Kb | |
| June 2024 | Management, Discussion and Analysis of the Consoli | 233 Kb | |
| June 2024 | Financial Statements | 2062 Kb | |
| March 2024 | Financial Statements | 1578 Kb | |
| March 2024 | Management, Discussion and Analysis of the Consoli | 316 Kb | |
| December 2023 | Management, Discussion and Analysis of the Consoli | 285 Kb | |
| December 2023 | Financial Statements | 1700 Kb | |
| September 2023 | Management, Discussion and Analysis of the Consoli | 277 Kb | |
| September 2023 | Financial Statements | 1887 Kb | |
| June 2023 | Management, Discussion and Analysis of the Consoli | 274 Kb | |
| June 2023 | Financial Statements | 4124 Kb | |
| March 2023 | Financial Statements | 3933 Kb | |
| March 2023 | Management, Discussion and Analysis of the Consoli | 290 Kb | |
| December 2022 | Management, Discussion and Analysis of the Consoli | 308 Kb | |
| December 2022 | Financial Statements | 1395 Kb | |
| September 2022 | Management, Discussion and Analysis of the Consoli | 309 Kb | |
| September 2022 | Financial Statements | 2702 Kb | |
| June 2022 | Management, Discussion and Analysis of the Consoli | 313 Kb | |
| June 2022 | Financial Statements | 2789 Kb | |
| March 2022 | Management, Discussion and Analysis of the Consoli | 310 Kb | |
| March 2022 | Financial Statements | 2390 Kb | |
| December 2021 | Management, Discussion and Analysis of the Consoli | 316 Kb | |
| December 2021 | Financial Statements | 1202 Kb | |
| September 2021 | Management, Discussion and Analysis of the Consoli | 345 Kb | |
| September 2021 | Financial Statements | 2349 Kb | |
| June 2021 | Management, Discussion and Analysis of the Consoli | 157 Kb | |
| June 2021 | Financial Statements | 1833 Kb | |
| March 2021 | Management, Discussion and Analysis of the Consoli | 181 Kb | |
| March 2021 | Financial Statements | 1617 Kb | |
| December 2020 | Management, Discussion and Analysis of the Consoli | 228 Kb | |
| December 2020 | Financial Statements | 1100 Kb | |
| September 2020 | Management, Discussion and Analysis of the Consoli | 156 Kb | |
| September 2020 | Financial Statements | 667 Kb | |
| June 2020 | Management, Discussion and Analysis of the Consoli | 174 Kb | |
| June 2020 | Financial Statements | 1737 Kb | |
| March 2020 | Management, Discussion and Analysis of the Consoli | 207 Kb | |
| March 2020 | Financial Statements | 1785 Kb | |
| December 2019 | Management, Discussion and Analysis of the Consoli | 207 Kb | |
| December 2019 | Financial Statements | 1190 Kb | |
| September 2019 | Financial Statements | 605 Kb | |
| June 2019 | Financial Statements | 884 Kb | |
| March 2019 | Financial Statements | 1458 Kb | |
| December 2018 | Financial Statements | 1666 Kb | |
| September 2018 | Financial Statements | 1723 Kb | |
| June 2018 | Financial Statements | 1540 Kb | |
| March 2018 | Financial Statements | 1042 Kb | |
| December 2017 | Financial Statements | 726 Kb | |
| September 2017 | Financial Statements | 1058 Kb | |
| June 2017 | Financial Statements | 1662 Kb | |
| March 2017 | Financial Statements | 673 Kb | |
| December 2016 | Financial Statements | 772 Kb | |
| September 2016 | Financial Statements | 648 Kb | |
| June 2016 | Financial Statements | 713 Kb | |
| March 2016 | Financial Statements | 446 Kb | |
| December 2015 | Financial Statements | 914 Kb | |
| September 2015 | Financial Statements | 1057 Kb | |
| June 2015 | Financial Statements | 1108 Kb | |
| March 2015 | Financial Statements | 870 Kb | |
| December 2014 | Financial Statements | 2082 Kb | |
| September 2014 | Financial Statements | 715 Kb | |
| June 2014 | Financial Statements | 1602 Kb | |
| June 2014 | Financial Statements | 1634 Kb | |
| March 2014 | Financial Statements | 522 Kb | |
| December 2013 | Financial Statements | 1757 Kb |
Financial statements summary
USD million · IFRS
| USD MM | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Jun-26 LTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Fare revenue | 374 | 148 | 205 | 342 | 416 | 543 | 579 | 586 |
| Non-fare revenue | 78 | 53 | 67 | 76 | 87 | 98 | 110 | 110 |
| Total revenue | 451 | 201 | 272 | 418 | 502 | 642 | 689 | 696 |
| Operational result | ||||||||
| Operational costs | (332) | (305) | (318) | (370) | (425) | (484) | (501) | (511) |
| EBITDA | 119 | (104) | (46) | 48 | 77 | 158 | 188 | 185 |
| EBITDA margin | 26.4% | n.m. | n.m. | 11.5% | 15.3% | 24.6% | 27.3% | 26.5% |
| Depreciation and amortization | (127) | (127) | (132) | (136) | (141) | (157) | (164) | (165) |
| Operational result (EBIT) | (8) | (232) | (178) | (88) | (64) | 1 | 24 | 20 |
| Non-operating result | (204) | (56) | (413) | (261) | (177) | (390) | (58) | (178) |
| Net income for the period | (212) | (288) | (591) | (349) | (241) | (389) | (34) | (158) |
(*) USD million. FX 922.21 CLP/USD as of June 30, 2026. Years 2020–2022 impacted by the COVID-19 pandemic.
| USD MM | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Current assets | 334 | 597 | 987 | 888 | 809 | 823 | 710 | 640 |
| Non-current assets | 5,417 | 5,599 | 5,896 | 6,138 | 6,412 | 6,839 | 7,263 | 7,428 |
| Total assets | 5,751 | 6,196 | 6,883 | 7,026 | 7,221 | 7,661 | 7,973 | 8,068 |
| Liabilities and equity | ||||||||
| Total liabilities | 2,662 | 3,098 | 3,964 | 3,970 | 3,990 | 4,464 | 4,495 | 4,517 |
| Equity | 3,088 | 3,098 | 2,919 | 3,056 | 3,231 | 3,197 | 3,477 | 3,552 |
| Total liabilities and equity | 5,751 | 6,196 | 6,883 | 7,026 | 7,221 | 7,661 | 7,973 | 8,068 |
| Leverage (Debt / Equity) | 0.86x | 1.00x | 1.36x | 1.30x | 1.24x | 1.40x | 1.29x | 1.27x |
(*) USD million. FX 922.21 CLP/USD as of June 30, 2026.
Contact
Institutional email
inversionistas@metro.cl