FS Italiane, approved 2019 half-year financial report, net profit reaches 362 million

Operating revenues at €5.98bn (+2.2% vs. the first half of 2018). EBITDA at €1.3bn (+7.5% vs. the first half of 2018). Net profit for the period of €362m (+4.3% vs. the first half of 2018). Investments for the period of €2.18bn. The commitment to customer centricity in commuter transport continues with significant growth of all the customer satisfaction indicators 

Rome, 7 October 2019

The Board of Ferrovie dello Stato Italiane approved today the Group’s half-year financial report as of June 30, 2019.

The Group's operating revenues rose, compared the first half of 2018, to €5.98bn with an overall increase of €126m (+2.2%) along with a significant growth of the gross operating margin EBITDA (+€91m) to €1.3bn (+7.5%). EBITDA Margin stands at 21.7%.

EBIT went from €426m in the first half of 2018 to €454m for the first six months of 2019 (+6.6%,), showing a solid business performance. The net profit consequently reached €362m (+ €15m, + 4.3%).

Transport service revenues reached €3.75bn in the first half of 2018, with a growth of €100m over the period, contributing to the positive performance of the FS Italiane Group.  Specifically, revenues from railway passenger transport of both the Long Haul and Short Haul business segments grew €48m, as well as road passenger transport (+€39m) and railway freight transport (+€12m). All indicators show a positive trend.

Investments, in line with the historical trend, continue to represent a cornerstone in the Group’s development policies. The investment volume, in the first half of the year, reached over €2bn, of which more than 50% involved the maintenance in efficiency and safety of both the conventional and high-speed railway networks.

The FS Group maintains a high level of financial solidity as of 30 June 2019. Equity amounted to €42.1bn and the net financial position stood at €8.6bn.

Regional transport services, in terms of safety and travel quality, are improving in line with the FS Group strategy to revamp the commuter business. During the January-June 2019 period, the demand for commuter transport grew by 1.3%, with over 12 billion passenger-km, compared to the first half of 2018, considering both domestic and foreign traffic volumes.

In addition, user satisfaction and other travel experience indicators showed an improvement in service: comfort (84.8%), information onboard trains (84.9%) and security (83.5%).

Operating costs, despite the growth in turnover, remain substantially in line with the first half of 2018, standing at €4.68bn (+0.8%). This is due to the implementation of saving policies, started in the second half of 2018, aimed at creating further value for the FS Italiane Group.

The total number of Group employees rose from 81,356 at the end of June 2018 to 83,167, mainly due to recruitments.

The Transportation sector - with the leading company Trenitalia, followed by Mercitalia and Busitalia, respectively in the freight and road transport businesses, and Netinera Deutschland, operating in Germany - records a net profit of €163m in the period. The Infrastructure sector - with Rete Ferroviaria Italiana and Anas – records a net profit of €191m in the first six months of 2019.

A summary of the main results of Ferrovie dello Stato Italiane Group in the first semester 2019 is available in the Financial Statements section of the FS Group website.

The manager in charge of the Company’s accounting document preparation, Roberto Mannozzi, declares, pursuant to paragraph 2 of article 154-bis of the Consolidated Law on Finance (TUF), that the accounting information included in this press release corresponds to the Company's evidence and accounting books and records.

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