ANAS’ stock transfer completed

Rome, 18 January 2018

Today ANAS’ shares were transferred to FS Italiane.

The Ministry of Economy and Finance transferred the whole ANAS stock to FS Italiane following the positive opinion from the Italian Antitrust Authority (AGCM).

The subscription by the Ministry of Economy and Finance of the FS Italiane share capital increase of 2.86 billion euro closes the process for the new leading integrated European hub of railway and roadway infrastructure both in terms of served inhabitants and investments

Details of the transaction were presented by Renato Mazzoncini - CEO and Managing Director of FS Italiane - and Gianni Vittorio Armani - Chairman and CEO of ANAS.

In the FS Italiane Group, ANAS will be alongside RFI, the railway infrastructure manager, and Italferr, the subsidiary operating on a national and international scale in designing and engineering, as well as the other companies including Trenitalia, Mercitalia and Busitalia, railway (passengers and freight) and road transport companies.

In its new configuration the FS Italiane Group reaches 81,000 employees, EUR 108 billion in investments over the next ten years and an invested capital of around EUR 50 billion. Besides, it will be now capable of reaching a turnover of EUR 11.2 billion and investment of EUR 8 billion in 2018.

The FS Italiane Group now oversees a railway and road infrastructure network of roughly 44,000 kilometres. The 2.3 billion vehicles that travel 64.5 billion km per year on the roads and motorways managed by ANAS are thus added to the traffic managed by the Group: around 750 million passengers per year on the railways (of which 150 abroad), 290 million on the road (130 abroad) and 50 million tonnes of freight.

Integration of railways and roads. With ANAS joining the FS Group, the infrastructural integration envisaged in the 2017-2026 Industrial Plan can be now realized.

Indeed, the integrated management of the infrastructure will bring an optimization of the operating and maintenance costs, generating savings of no less than EUR 400 million over ten years.

The target is to strengthen maintenance and quality and safety standards of the road network. In particular, ANAS and RFI can collaborate for maintenance oversight and monitoring of the road network. Actions that can be immediately implemented on around 10,000 km of the ANAS network, with the railway network running closely alongside. Operational integrations will also be possible for predictive diagnostics. The coordination between Rete Ferroviaria Italiana and ANAS will also result in a more effective and efficient connection of logistics hubs: ports, airports, railway stations and intermodal transfer points.

Investments in Italy. The new 2016-2020 Program Agreement between ANAS and the State provides a more efficient management of investments for the Company, with costs reduction of more than 3% quantifiable in 400 million in five years. Moreover, ANAS will be able to double its spending capacity from 1.5 billion in 2017 to 3 billion in 2020 with immediate and visible effects on renewal of viaducts, tunnels, paving and quality of the network.

The adoption of the same processes of other FS Group’s companies will facilitate the coordination in designing and negotiating activities, this will produce both savings in public expenditure and a significant increase in new construction sites and, as a result, favourable impacts on the construction industry, employment and the country’s entire economy. In 2018, RFI and Italferr expect to confirm the 2017 trend, which saw the value of published tenders rising from EUR 3.5 billion in 2016 to EUR 7.5 billion. Likewise, in 2018 ANAS tenders value will rise to EUR 3 billion from EUR 2 billion in 2017.

Exit from Public Administration Perimeter. By entering in the FS Group, ANAS begins the exit process from the public administration to become a market participant, therefore it will be able to activate a new plan which can envisage new hiring and new investments implementation in a faster and more efficient way, also through self-financing or the financial support of the Group.

Cutting-edge Technologies. Further integrations are envisaged in sharing know-how and technologies carrying on important projects for the benefit of safety and environment, such as smart roads, that can be travelled by electrified vehicles and driverless cars, making Italy one of the countries driving this innovation. With this aim it will be possible to install on the road network already implemented railway technologies, such as the ERMTS, the safety system which manages railway circulation, in order to test new dialogue systems between the road and vehicles with the mid-term perspective of automatic driving. Besides, sharing of best practices will favour innovation in new tools for quality control over the roads and technical verification on viaducts and bridges.

International activities. The benefits of integration will also be immediately perceived on international markets: FS Italiane Group will be able to propose itself as an entity capable of oversee the entire range of operations and services related to mobility infrastructure. 

This is in line with the internationalization targets of the FS Group 2017-2026 Industrial Plan which forecasts an increase in total revenues from international operations (from 13% to 23%), rising from EUR 1 billion to EUR 4.2 billion in 2026. 

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