The Ferrovie dello Stato (FS) Group closes its 2022 financial statements with a strong increase in revenues (+1,4 billion on 2021), Ebitda and net profit. Investments up 9% and Pnrr deadlines respected. Going into detail, here are the most significant data communicated by the FS group and approved by the Board of Directors:
- operating revenues at 13,7 billion euros (+12% equal to +1,4 billion euros vs 2021)
- Ebitda at 2,2 billion euros (+17% which becomes + 119% equal to the net of the Covid refreshments)
- Ebit at 262 million euros (+36% or +112% net of the Covid refreshments)
- Net profit at 202 million euros (+5%)
- Technical investments of 11,3 billion euros (98% is on the national territory), of which over 9 billion euros in railway and road infrastructures
- net financial position of 7,9 billion euros (-1 billion euros vs 2021).
The group has also awarded tenders in the infrastructure sector for 15 billion euro and published calls for tenders for around 26 billion. Coming to the Pnrr, FS has met all the deadlines envisaged by the program and in particular: the assignment of works on the railway infrastructure Naples-Bari for a value of 370 million euro, the award of ERTMS works for a value of 3,27 billion euro and the award of works Palermo-Catania for a value of 1,21 billion euros.
Finally, the Ferrovie press release underlines the commitment to sustainable mobility: 84,2% of capital account expenses, 60,6% of revenues and 44,5% of operating costs are attributable to eco-sustainable activities according to the criteria of the European Taxonomy.
FS Luigi Ferraris: 2022 budget solid basis for completing the Pnrr objectives
The positive results in 2022 and the strong sign of post-Covid recovery "confirm the key role of the FS Group in providing the country with an efficient and integrated infrastructure, mobility and freight logistics system, as well as in helping to make our cities more sustainable . The 12% growth in revenues in one year is the result of the Group's operating capacity which has made it possible to take advantage of the substantial increase in the demand for mobility of people which has seen double the Frecce travelers compared to 2021. All economic indicators are up driven by ordinary management, with Ebitda improving by over 1,1 billion euro, taking into account the drastic reduction in 2022 compared to 2021 for approximately 800 million euros of Covid refreshments. The Group closes with a +5% net profit. The results achieved and the activities undertaken constitute a solid foundation to complete the others goals Pnrr, the other strategic works for the country and encourage the development of a new integrated mobility.”
FS: in 2022 Frecce travelers double after Covid
2022 was the year of recovery after the terrible Covid crisis. Revenue from transport services, equal to 6,9 billion euros, mark an increase of 996 million euros compared to 2021, both nationally and internationally. In fact, the FS note underlines both the increase in revenues relating to passenger services on iron (overall +962 million), that the revenues associated with freight transport rail (+45 million) also supported by partnerships with major international players, including HUPAC".
Volumes of passenger demand/km (+106,5% in market services, +50,3% in intercity service, +39,9% in regional service) and train production/km (+37,1% in market services, +4,7% in the intercity service, -1,5% in the regional service), were driven by operational management and the recovery of general mobility with the easing of the restrictions put in place by the Italian Government, in line with other European countries, for the containment of the Covid-19 pandemic. All while having maintained the rates unchanged also in terms of market services.
I operating costs reached 11,4 billion, up by 1,1 billion (+11%) due to the strong recovery in business activities, but also – concludes the FS press release – “due to the absorption of the strong discontinuities caused by the inflationary spiral generated by the socio-political and economic-financial uncertainty linked to conflict in Ukraine, the weakening economy in China and the supply difficulties along the value chains, which translates into the increase in the cost of raw materials, above all that ofelectric energy".