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Spain’s Transfesa agrees payroll Increase In 2018, 2019

Spain’s Transfesa agrees payroll increase in 2018, 2019

Spain’s Transfesa agrees payroll Increase In 2018, 2019

Madrid, Spain (PortSEurope) June 14, 2018 – Spanish logistics and freight transport company Transfesa (Transportes Ferroviarios Especiales SA) and trade union committees have reached an agreement on the salary increases that will be applied throughout 2018 and 2019.

The workers will see their salary increased by 1.7% applied to the annual gross wage each year, while for 2018, the increased amount will be applied to the June payroll, as reported by the company.

The workers’ salaries may be increased by additional 0.3% in 2018 if 50% of the €5 million ($5.8 million) earnings before interest and tax (EBIT) planned for 2018 is achieved.

With reference to 2019, the variable percentage will be 0.4% if 50% of the EBIT of 2019 is achieved, whose amount is still to be defined.

Transfesa is the operator of the railway transport of cars produced by Renault at its Spanish factory to the port of Valencia. The company is also active in the ports of Barcelona, Santander and Seville. It operates a warehouse at Barcelona port.

Transfesa is 70.29% owned by the German company Deutsche Bahn Ibérica Holding and 20.35% by Renfe, the state-owned Spanish rail freight and passenger operator.

Source: Diario del Puerto

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