In 2022, RFI achieved a positive economic result of 263 million euro. Although slightly down on the previous year, this result is particularly significant given the highly uncertain macro-economic environment stemming from the progressive deterioration of the world geo-political situation.

EBITDA increased by 69 million euro (15%) as a result of the recovery in traffic volumes and the demand for ancillary traffic services, which offset the gradual increase in the cost of raw materials, while EBIT confirmed the positive trend for the company, growing by 39 million euro compared to 2021.

The economic advancement of investments, at 5,930 million euro, increased by 339 million euro compared to the previous year, which had already reached the highest value in the last decade. The railway sector is a major player in the scenario of a more connected, digital and sustainable transport system. In this context, the company is called upon to play a fundamental role in the definition and implementation of the PNRR (National Recovery and Resilience Plan) with specific reference to the investments planned in Mission 3 “Sustainable Mobility Infrastructures”, 80% of which are allocated to the development and upgrading of the national and regional railway network, of which 23.86 billion euro is dedicated to RFI investments.

Compared to 2021, the company's high level of financial strength remains consolidated thanks to equity of approximately 34 billion euro.

MAIN OPERATING, CASH FLOW AND CAPITAL FIGURES
  mln€ mln€ mln€  
  2022 2021 Change %
Operating income 3,233 3,057 176 6%
Operating Costs (2,712) (2,605) (107) 4%
Gross operating margin (EBITDA) 521 452 69 15%
Operating result (EBIT) 312 273 39 14%
Net result 263 275 (12) (4%)
  31.12.2022 31.12.2021 Change %
Net Invested Capital 34,844 35,732 (888) (2%)
Equity 34,094 33,936 158 n.s.
Net financial position 750 1,796 (1,046)
(58%)
Investments during the year 6,182 7,960 (1,178) (22%)
Total cash flow generated/absorbed during the year 1,022 459
563 n.s.
MAIN FINANCIAL RATIOS
  2022 2021
EBITDA MARGIN (EBITDA/OPERATING INCOME) 16.10% 14.80%
ROS (EBIT MARGIN) 9.64% 8.91%
STAFF COSTS/OPERATING INCOME 46.03% 50.54%

Share Capital

31,528,425,067.00 (latest change: 18.12.2018).

Financial statements