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FS Group, record investments of 16 billion euro in 2023

Ferrovie dello Stato Italiane

“The Group reported record capital expenditure of more than 16 billion euro. This is the first time we have passed this threshold, so it is an absolutely outstanding result to be celebrated together with the work of all our colleagues.” says Luigi Ferraris, CEO.

Revenues for 15 billion euro, up 8% from 2022, record capital expenditure of 16 billion, net profit 100 million, more than six times the 2022 figure: these are just some of the positive results from the 2023 financial report approved by Ferrovie dello Stato Italiane. The net growth reported by the Group led by Luigi Ferraris was driven by the increase in passenger numbers on the trains and buses of the Passenger Business Unit, whose revenues were up 11.2% on 2022.

All with a growing focus on Europe: compared with 2020, revenues from FS’ international operations increased by 80%, thanks largely to the high-speed roll-out in France and Spain and the development of the logistics business on the central European market integrated with Italy.

Luigi Ferraris, CEO of Ferrovie dello Stato Italiane said: Today our Board of Directors approved the Group’s results for the financial year at 31 December 2023. So this is a time to look not only at the numbers, but also at our Group’s operations and achievements. 

The first key element I want to underline is that the Group reported record capital expenditure of more than 16 billion euro. This is the first time we have passed this threshold, so it is an absolutely outstanding result to be celebrated together with the work of all our colleagues.

The Group is healthy and growing, and also working according to the timetable of the National Recovery and Resilience Plan. By 31 December 2023, we had invested 8 billion Euro of the funds allocated for the projects planned under the NRRP. So we are on schedule and are building important works to support Italy’s infrastructure and growth.

As far as our other activities are concerned, we achieved significant growth in passenger transport. Our trains have now returned to pre-Covid load levels, reflecting strong demand and an important boost from tourism. Thanks to the work of our colleagues, we were ready to accommodate this rapid and above all continued growth with great satisfaction, but obviously with the great efforts of the people whose job is to welcome tens of thousands of tourists every day.

Our logistics business is holding up. Despite a complicated year, turnover at the logistics division increased 7%, thanks in part to our strategic positioning, with a presence in Europe that enables us to link central Europe both with Italy and with the ports. This obviously means our offers are more integrated and more competitive. So we are making good progress on our industrial plan, with very satisfactory not to say excellent results, and again I have to stress the 16 billion euro of capital expenditure, and obviously all this leads me to say a huge thank you to all our colleagues who have worked so hard to achieve these results, and who I am sure will continue with the same vigour and the same determination.”

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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