The FS Italiane Group closed the first quarter with strong growth in results, in terms of revenues and Ebitda, continuing the ambitious investment plan that is part of the PNRR.
“The FS Group closed the first quarter of 2024 with a positive performance of the main economic-financial indicators and marked a decisive acceleration in technical investments, an increase of approximately 50% compared to the data recorded in the same period of 2023”, commented the CEO Luigi Ferraris.
Revenues and Ebitda up by double digits
THE Operating revenues recorded an increase of 820 million euros, reaching over 4 billion euros (+25%)mainly thanks to the growth oftransport services (+177 million euros to 2.1 billion), dei Infrastructure services (+160 million euros to 1 billion), which include motorway revenues from Anas management, and other service revenuesi (+515 million euros) which account for the sale of the Milan Farini airport carried out by FS Sistemi Urbani as part of the Program Agreement signed with the Municipality of Milan.
“The increase in revenues was driven by the solid operational performance and the recovery in volumes of passengers transported in all business segments of the Passenger Hub with double-digit growth in High Speed,” explained the Ferraris CEO, adding which “contributed to the results the urban regeneration program of the Urban Center which in the first three months of 2024 completed the sale of the disused railway yards of Milan Farini and San Cristoforo”.
EBITDA therefore recorded an increase of 63 million euros, equal to +19% compared to the first quarter of 2023, standing at 392 million euros. The increase is mainly attributable to the dynamics of revenue growth in all business components.
Investment boom
On the investment front, the first quarter of 2024 confirms the Group's central role in supporting the national industrial system and the Group's extraordinary effort to implement the strategic works for the country envisaged by the PNRR.
The Group has in fact developed and managed an overall level of technical investments amounting to 3.2 billion euros (98% in Italy), with one 49% growth compared to the first quarter of 2023, of which 2.8 billion euros relating to railway and road infrastructure, including, in particular, the following works: the Turin-Milan-Naples HS line, the Naples-Bari line, the HS/ AC Verona-Padova is Verona-Vicenza, the Milan-Verona is Brescia-Verona and the Terzo Valico dei Giovi route.
Also there Net Financial Positionequal to 11.7 billion euros, records an increase of 480 million euros compared to 31 December 2023, due to the greater use of short-term funding aimed at supporting the investment cycle of the FS Group.
Approximately 3,000 hires
Great contribution to the economy also on the employment side. THE employees of the FS Group have reached a 93,900 units as of March 31, 2024 from 92,446 in December 2023, with a turnover determined by around 3,000 hires, mainly due to generational turnover.
