In 2024, the macroeconomic environment experienced a set of ups and downs, with an initial phase of gradual growth followed by a downturn in investments and exports in the second half of the year. In Italy, growth remained weak, and was supported mainly by NRRP works, with RFI as a key player.
In the transport sector, demand for mobility continued to grow, with increased passenger traffic compared to 2022 and 2023. In this scenario, RFI made infrastructure investments for EUR 9,630 million, marking a 28% increase over the previous year. Out of those, around EUR 6,085 million was allocated to major infrastructure projects, while EUR 3,545 million went to efficient infrastructure maintenance, with EUR 756 million for technological interventions.
The budget for 2024 shows a negative Net Result of approximately EUR 99 million, up EUR 295 million compared to 2023.
However, RFI achieved a positive EBITDA of EUR 98 million, down EUR 324 million from last year. One of the factors that significantly affected this reduction is the lack of operating contributions from the state, intended to cover costs already incurred by the operator, including the increase in labour costs following the hiring policy adopted by the company - started in 2023 and continued in 2024 - to support the impressive investment programme, which had direct consequences on operating volumes and hiring of various professional figures.
Despite these challenges, RFI has proven a remarkable investment capacity and a central role in the country's infrastructure development.
MAIN OPERATING, CASH FLOW AND CAPITAL FIGURES | ||||
---|---|---|---|---|
mln€ | mln€ | mln€ | ||
2024 | 2023 | Change | % | |
Operating Income | 3,019 | 2,868 | 151 | 5% |
Operating Costs | -2,921 | -2,446 | -475 | 19% |
Gross operating margin (EBITDA) | 98 | 422 | -324 | -77% |
Operating result (EBIT) | -18 | 250 | -268 | -107% |
Net result | -99 | 196 | -295 | -151% |
12.31.2024 | 12.31.2023 | Change | % | |
Net Invested Capital | 39,853 | 38,638 | 1,215 | 3% |
Equity | 33,912 | 34,120 | -208 | -1% |
Net financial position | 5,941 | 4,518 | 1,423 | 31% |
Investments during the year | 9,630 | 7,550 | 2,080 | 28% |
Total cash flow generated/absorbed during the year | -117 | -1,443 | 1,326 | -92% |
MAIN FINANCIAL RATIOS | ||||
2024 | 2023 | |||
EBITDA MARGIN (EBITDA/OPERATING INCOME) | 3.26% | 14.70% | ||
ROS (EBIT MARGIN) | -0.58% | 8.72% | ||
STAFF COSTS/OPERATING INCOME | 62.70% | 58.40% |
31,536,472,466.00 (latest change: 05/20/2025)