Il business plan 2025-2029 di state Railways is ready to go with over 100 billion of euros on the table. The goal is to transform the company and give a boost to the country's development, while keeping a constant eye on Europe. "When we talk about the domestic market, we have to include Europe," said the CEO and general manager Stefano Donnarumma, reiterating the international scope of the plan. “We want to create a clear discontinuity,” he added.
- economic objectives are clear: FS expects a 30% growth in the revenues, which in 2029 should exceed 20 billion euros compared to the 15,4 billion estimated for 2024. TheEbitda, instead, is expected to increase to 3,5 billion, from 2,2 billion in 2023, while the Net income should increase fivefold, reaching 500 million.
However, there is no shortage critical issues. Donnarumma stressed the need to contain the operating costsa 5% cut by 2029, and to find new financing models to reduce the burden on state coffers. With this plan, Fs is preparing to write a new chapter under Donnarumma's leadership.
Fs, the strategic lines of the new plan: trains, punctuality and sustainability
Divided into eight guidelines, the plan aims to strengthen the country's railway and road system, providing 50 billion for maintenance of the infrastructure existing and 60 billion for new projects. In particular, over 50 billion will be allocated to improve the 17 thousand kilometers of railway lines managed by Rfi, while 15 billion of the 40 billion total for roads will go to strengthen the Anas network.
The plan also includes the introduction of 46 new High Speed trains, 145 regional trains e 1.260 bus low CO2 impact, with the aim of increasing the population served by the AV network in Italy by 30%. In the next five years, it is expected that over 100 million passengers more they will choose Trenitalia and 95 million Busitalia, while the international transport will grow with the aim of increase by 40% travellers beyond the Italian borders. Ferrovie dello Stato forecasts that the passengers who will use the High Speed in Europe will exceed 14 million, while those of Urban Mobility will reach 140 million and those of the European regulated business will reach 150 million by 2029. To manage foreign activities in a more coordinated way, the group is working on reorganization of FS International, which will become a reality with a 3 billion turnover and 12 thousand employees.
One of the most critical aspects for Fs is the train punctuality, a problem that the company intends to address with interventions on over 50 thousand trains per year, accompanied by the creation of a new infrastructure dedicated to on-board train connectivity services, with the aim of "achieving the best performance ever".
On the front of the sustainability, the group plans to install over 1 gigawatt of photovoltaic by 2029 and to cover 100% of the Core Extended network with the advanced Ertms rail system by 2040.
Also the governance will be revolutionized, eliminating the poles and bringing the FS group back to the centre as the only point of reference.
The PNRR and the critical issues in major works
Il National Recovery and Resilience Plan (Pnrr) makes available approximately 25 billion euros for Fs, even if the group has already had to deal with a reduction of 2 billion. Of these, 11 billion have been allocated, but difficulties remain linked to delays e unexpected.
An example is the Third Pass, slowed down in the last 700 meters by a vein of gas. Donnarumma assured that the problem has been solved, but did not spare criticism of the past: "With this government we would have made different choices, some of the solutions adopted are too complex."
Among the main works, the group will invest 9,7 billion in the line Palermo-Catania-Messina and 3,2 billion in the Naples-Bari, confirming the centrality of the South in the development plan.
New financing models
To support the changes outlined in the industrial plan, Railways with the State is exploring new financing models that they can reduce the use of public funds. Among the options on the table, a logical approach Rab (Regulated Asset Base) could guarantee the safety of investments and encourage greater self-financing, with the possibility of involving third party capital.
“The plan is not to privatize or break up the FS group,” Donnarumma said, looking at “Cdp and F2ii”, clarifying that the objective is rather “to bring parts of our supply chain back under our control” through strategic projects. However, he highlighted a structural challenge: “20% of the 25 billion of this year’s maneuver goes to us”, but every year the State “must finance us to guarantee the safety of passengers and keep the company afloat”. A dependence on public funds that, he said, is becoming increasingly difficult to maintain.
A transformation that will not only be measured in billions, but above all in punctual trains, satisfied passengers and infrastructures in step with the times.
