State Railways, revenues and investments in strong growth


By John

The Board of Directors dthe Ferrovie dello Stato Italiane SpAchaired by Nicoletta Giadrossi, approved, today, the draft annual financial report of the Company, which also includes the consolidated financial statements of the FS Group, as of 31 December 2023. Luigi FerrarisCEO of the FS Group, commented:

2023 marked a record year for Ferrovie dello Stato's investments which exceeded 16 billion euros, a level never recorded in the history of the Group. A notable commitment in terms of capacity and development for the infrastructural modernization of the country, to which the funds allocated with the Pnrr also contribute, of which FS is the main recipient with over 26 billion euros. Of these, 8 billion euros had been spent at the end of 2023, equal to approximately 30% of the expected resources. The positive results achieved in 2023 show a significant growth in the main economic-financial indicators, due to the operational performance, which marks an acceleration of revenues in all business segments. In a scenario characterized by geopolitical crises, a slowdown in the growth of the world economy, high inflation albeit with a downward trend, the FS Group positioned itself at the center of the mobility ecosystem in the three-year period 2021-2023, through the grounding of investments of 40 billion euros, continued the hiring plan with over 30,000 new hires and reorganized the Group's structure and international strategy, confirming its role in supporting the country's economic and industrial system”.

These are the main indicators:

* Operating revenues at approximately 15 billion euros (+8%), driven by operational performances and the marked recovery of the passenger hub (+11% compared to 2022) and the freight hub (+6%) in a difficult European logistics context
* EBITDA at approximately 2.2 billion euros (+1%), up by +14% net of extraordinary items
* EBIT at 338 million euros (+29%), more than four times compared to 2022 net of extraordinary items
* Net profit at 100 million euros (-51%), more than six times the value achieved in 2022 net of extraordinary items
* Technical investments exceed 16 billion euros (11 billion in 2022), a value never recorded in the history of the Group
* 8 billion euros already spent on the Pnrr, in line with the timetable
* 24 billion euros of tenders already awarded in 2023, mark the Group's extraordinary effort to complete strategic works for the country
* Net financial position of approximately 11 billion euros (+3.6 billion euros in 2022) mainly due to the growth in investments
* Over 12,000 hires.
* Technical investments exceed 40 billion euros, of which 26 billion euros in railway infrastructure, 8 billion euros for the road network, over 5 billion euros for rolling stock renewal and 1 billion euros for logistics, urban regeneration and the improvement of technologies * Tenders announced: 1,188 new tenders for a total value of 53 billion euros
* Over 30,000 people hired, with average age reduced to 41 years
* International: over 2 billion euros in turnover, with growth of more than 80% compared to 2020, due to the launch of the AV in France and Spain and the development of logistics on the Central European market integrated with Italy .