EPUL, the city owned company that is responsible for House Holding in Lisbon, has reverted its economical situation. From a €-3.8 million EBITDA to a €10.5million in 2 years. From a bankruptcy situation to a positive one. Reducing its bank Debt in 6%. And it has done so by doubling its Turnover (now at €66 millions), changing offices (from rented to already owned ones), reducing Board members compensations in 5% and shrinking its car park from 31 to 14 vehicles. A great achievement!
Now, we need to demand that all State owned companies do exactly this! Reduce its non-productive spending, cutting higher level compensations (a good example: only pay bonus when really owned - it doesn't make much sense if bonus are paid to a Board that didn't improve Cash Flow and Balance situation), increase revenues (but still looking on company social mission). We, as tax payers that are paying for these companies, demand it!
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