Rail freight transport posted strong figures in the 2024 financial statements of Ferrovie dello Stato Italiane, published on 3 April 2025, with solid growth reflecting the recovery of rail logistics and the rise of intermodality. According to the Group, operating revenues from the freight sector reached 1.358 billion euros, marking an increase of 207 million compared to 2023. This result reflects FS’s strategy to strengthen infrastructure links and expand the logistics offering with a focus on sustainability.
The push towards integrated mobility is also evident in the figures for road infrastructure, managed by Anas, which generated operating revenues of 4.22 billion euros, up by 313 million from the previous year. This is a significant figure, underlining the role of the national road network in the movement of people and goods. At the same time, revenues from the rail infrastructure also increased, reaching 3.202 billion euros, a rise of 62 million compared to 2023.
This expansion was supported by a record level of technical investments, amounting to 17.6 billion euros, surpassing the 16 billion invested in 2023. It is the highest amount ever reached by the Group, largely allocated to network modernisation and the construction of new strategic projects. In particular, the strengthening of railway lines and improvements to the road network managed by Anas were among the main beneficiaries of these investments.
Across the Group as a whole, the 2024 consolidated financial statements closed with operating revenues of 16.5 billion euros, up 12% from 14.7 billion in 2023. This performance was driven mainly by passenger transport, but also supported by the recovery of the freight sector and the development of infrastructure. Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at 2.2 billion euros, remaining in line with 2023, while operating profit (EBIT) rose slightly to 343 million euros, an increase of 1.5% over the previous year.
The net result for the year was a loss of 208 million euros, compared to a profit of 100 million in 2023. According to FS, this loss is due to extraordinary items and non-recurring components, which do not, however, affect the Group's overall financial solidity. Finally, the net financial position stood at over 13 billion euros, an increase of 2.3 billion compared to 2023, in support of the Group’s extensive infrastructure development plan, largely financed through sustainable finance instruments.
The Group also made a significant contribution in terms of employment, with 9,736 new hires during the year. “The year 2024 confirmed our strength and our extraordinary execution capabilities,” said Stefano Antonio Donnarumma, CEO and general manager of FS Group. “We are the driving force behind the country’s infrastructure development, thanks also to our effective management of PNRR funds.”
