The merger between Ferrovie dello Stato and Anas is "a suggestive and interesting hypothesis" that the group is currently evaluating.
This was announced by the managing director of FS Renato Mazzoncini during the press conference to present the financial results, speaking of ongoing checks and evident synergies: "It is still very early to talk about it but, given that both the Ministry of Transport and that of the Economy have confirmed the hypothesis I cannot but. Checks are being made. The possible synergies are quite evident, just remember that at the university there is an exam of road and railway construction, now we are examining the negative aspects", explained the CEO, declaring himself in favor of a "network company" model on condition that it remains “within the Ferrovie holding company.
Compared to the stock exchange perspective – Mazzoncini clarified – it would be “neutral: we do any operation only if it guarantees adequate levels of profitability”.
“I don't see any possible problems from such an integration – he concluded – it would have effects on a possible IPO”. We recall that the government has decided to sell a share of the railway group on the market, not excluding an IPO which is currently expected in 2017.
As far as accounts are concerned, there is good news on net profit, which grew sharply compared to the previous year, while the EBITDA suffered a drop of 139 million euros.
Going into detail, net profit rose to 464 million euros, a figure that corresponds to an increase of 53% compared to 2014, despite - the group's top management underlined - there were major discontinuities deriving from the changed legal and regulatory framework .
Ebitda instead fell to 1.975 million euros, down by 139 million, while operating revenues grew by 2,3% to 8,6 billion. Investments grew by 29% to 5,5 billion.
Finally, Mazzoncini announced his intention to write a check for the Treasury for 60 million to be counted on the dividend: "As required by a law, we had to give 100 million in two years, we gave 40 million last year". As regards the remaining part of the profits, Fs will propose to the shareholder to reinvest it in the company.
