Operating revenues grew by €194m or 2.3% to €8.6bn. The main increases were achieved in medium and long-distance rail services which saw a €77m growth in income, with FS' Freccia high-speed train services earning an additional €67m. FS' Netinera subsidiary, which operates regional passenger concessions in Germany, recorded a €153m increase in revenue while its Busitalia Sita-Nord subsidiary earned an additional €37m. FS also gained €18m from the sale of its electricity grid to Terna.
However, these increases in turnover were offset by the end of the freight public service contract which was worth around €106m.
Trenitalia, FS' passenger and freight train operating subsidiary, recorded an Ebitda of €1.55bn, Ebit of €417m and a net profit of €226m, while infrastructure manager Italian Rail Network (RFI) achieved an Ebitda of €271m, Ebit of €151m, and a net profit of €111m.
Overall FS ended 2015 with an Ebitda of €1.98bn, which was €139m lower than in 2014. This was due to changes in the normative framework, higher traction energy costs, and ending of the freight public service contract. However, these were offset by a reduction in high-speed line track access charges. Ebit was down €15m at €644m.
Capital investment increased by 29% in 2015 to €5.5bn of which €2.5bn was self-financed or through debt. €3.5bn was invested in infrastructure improvements while €1.5bn was for new trains and road transport.
"The noteworthy performance for FY 2015 proves the leading role of FS Group in the Italian economy as well as in the relevant growth expectations within the improving national economic context," says FS CEO Mr Renato Mazzoncini.
