Source: 2016 Financial Report

Financial and economic results

The economic and financial results for 2016 were very positive: with revenues of 8.9 billion Euros (+4% compared to 2015), EBITDA well over the threshold of 2 billion (+16.1%) and net profits of 772 million (+66.4%), the year just ended was the ninth consecutive year in profit. Ordinary assets, excluding the effects of non-recurring asset adjustments and rationalisation, also increased: revenues were 8.6 billion Euros, EBITDA 2 billion (+1.5% compared to the previous year) and net profits 0.4 billion (+17.5%).

The results, which were buoyed by the disposal of some non-strategic assets (in particular, the capital gain of 365 million Euros generated by the overall enhancement of Grandi Stazioni), allowed us to remain financially solid, with net investment of 45.3 billion (of which 33.2 billion attributable to the rail infrastructure sector), equity of 38.5 billion and a net financial position of 6.8 billion Euros (essentially unchanged from 2015).

The confidence of the financial markets has allowed us to place new bonds for 1 billion Euros in 2017, bringing our outstanding notes to a total of 3.05 billion Euros.

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