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Fs: revenues, ebit and investments in double-digit growth but result in the red. Donnarumma: "We need a relaunch"

Double-digit growth in revenues and EBIT, EBITDA also rises. Results driven by Trenitalia. The loss is weighed down by the risk fund allocation related to the ruling of the Council of State on Ferrovie del Sud Est and Servizi Automobilistici

Fs: revenues, ebit and investments in double-digit growth but result in the red. Donnarumma: "We need a relaunch"

The group Italian Fs closed the first half of 2024 with operating revenue increased by 8 billion euros (+13% compared to the first six months of 2023), ebitda equal to 1 billion euros (+3%), ebit rising to 109 million euros (+10%). The the period result is negative for 199 million of euros. This was announced by FS, after the Board of Directors approved the half-yearly report. 

Trenitalia leads the group

Driving the growth results is in particular Trenitalia, “with a strong recovery in volumes in all business segments”, the company underlines in a note. Also important is the impact of the sale by Fs Sistemi Urbani of railway stations of Milan Farini and San Cristoforo which generated a capital gain of 118 million euros. 

The loss of 199 million, explains FS, is mainly attributable to'risk fund allocation, for an amount equal to 153 million euros, connected to the ruling of the Council of State of 5 August last regarding the company Ferrovie del Sud Est e Servizi Automobilistici.

“The FS Italiane group – underlined CEO Stefano Donnarumma – continues to record a growth in passenger volumes which does not correspond linearly to a growth in the company's result. This is due to various factors, such as the increase in personnel costs to support the investment plan, the failure to adjust contributions for Rfi's maintenance costs and contributions destined for Anas for the so-called "Re-entry Roads", in addition to the provisions for the ruling of the Council of State.

Returning to the accounts, thanks also to the impetus of the PNRR, the note on the half-yearly report continues, FS investments reach 7,4 billion euros with an increase of 11%, in particular of Rete Ferroviaria Italiana and Anas. The net financial position is equal to 13,2 billion compared to 11,2 billion at the end of 2023.

Donnarumma: “We need a relaunch to improve services, strategic plan by 2024”

The Fs company "is solid in terms of skills and assets, but needs a relaunch with an industrial approach to improve service levels and solutions to guarantee the expected levels of economic-financial balance", commented CEO Stefano Donnarumma, "The company will go in this direction strategic plan in progress which will be presented within the year,” he added.

Trenitalia: agreement with SkyTeam for integrated air + train travel

Trenitalia e SkyTeam have signed a agreement to offer integrated “air + train” trips in a'single reservation, thus facilitating connections between international flights and high-speed trains in Italy. The partnership will allow passengers to easily reach destinations Italian flights using Frecciarossa flights after arriving by plane with one of the 14 airlines in the SkyTeam network. SkyTeam frequent flyer members will be able to earn and redeem miles on selected Frecciarossa trains, while members of Trenitalia's CartaFreccia program, which has over 10 million members, will be able to do the same on SkyTeam flights. SkyPriority services will be available at train stations for elite members of both programs.

The agreement promotes intermodality and sustainability, offering benefits to members of both partners' loyalty programs and ensuring greater flexibility and quality in travel.

Last update 13,02am

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