Estudo de receitas complementares para concessionárias ferroviárias

Abstract

This study aims to analyze and structure strategic pathways for revenue diversification in the Brazilian railway sector, considering the inherent limitations of a business model traditionally concentrated on freight transportation and strongly impacted by factors such as regulation, demand volatility, and high capital intensity. Based on the integration of classical business strategy foundations, including competitive advantage, value chain, and generic strategies, with contemporary approaches such as the Resource-Based View (RBV) and dynamic capabilities, the study demonstrates that revenue diversification should not be treated as an opportunistic expansion, but rather as a structured extension of the existing competitive advantage. The research highlights that railway concessionaires possess strategic assets with high value-generation potential, such as installed infrastructure, right-of-way areas, operational data, technical expertise, and privileged logistical positioning. When explored in an integrated and structured manner, these assets enable the development of new business models based on complementary services, digital platforms, and participation in logistics ecosystems. As its main contribution, the study proposes a structured diversification model based on three pillars: (i) the exploitation of complementary services derived from existing assets; (ii) the evolution toward platform-based models and network-effect generation; and (iii) the adoption of rigorous technical, regulatory, operational, and economic-financial feasibility criteria for prioritizing initiatives. Additionally, a phased implementation plan is presented, covering stages from strategic diagnosis to the consolidation and optimization of initiatives, incorporating governance mechanisms, performance indicators, and risk management practices. The study also presents practical references and sectoral case studies involving Brazilian and international railway operators, highlighting successful experiences in multimodality, infrastructure servitization, logistics integration, predictive maintenance, data monetization, and expansion into complementary services. Furthermore, a Minimum Viable Product (MVP) applied to a real railway logistics operation is analyzed, demonstrating measurable operational gains, increased unloading capacity, higher transport throughput, and positive impacts on EBITDA generation. The results indicate that diversification, when guided by complementarities, organizational capabilities, and strategic discipline, contributes to increased business resilience, expansion of revenue streams, and improvement of systemic efficiency, positioning railway concessionaires as integrated logistics service platforms rather than merely freight transport operators. Finally, the study reinforces that sustainable value generation in the railway sector depends not only on operational efficiency, but also on the ability to reconfigure assets, develop new business models, and operate collaboratively within complex and dynamic logistics ecosystems.