FS Italiane profit up 20%

Italy’s state-owned rail company Ferrovie dello Stato Italiane (FS Italiane) has recorded a net profit of €460 million, an increase of 20 per cent on the previous year.

Unlike other European networks, FS Italiane, which manages both the infrastructure and services on Italy’s rail network, actually saw its operating costs fall last year, down 0.2 per cent to €6.3 billion in 2013.

FS Italiane’s EBITDA rose to over €2 billion for the first time as operating revenues climbed to €8.3 billion.

Publishing its new four-year business plan, FS Italiane also announced it would be investing €24 billion in new trains and improvements to the network between now and 2017.