Investor Presentaiton
FS Group CAPEX profile
• In 2022 FS's capital expenditure amounted to € 8,115 mn (- 19% vs. 2021), of which €5,951 mn funded through government
grants mainly earmarked to rail infrastructure.
• The majority of capex went to maintenance and development of the rail infrastructure network carried on by RFI, with a focus
on Traditional network. Rail infrastructure capex is almost totally funded by the Government as per the "Contratto di
Programma" between Ministry of Infrastructure and Transport and RFI.
⚫ Trenitalia capital expenditures are in line with 2021.
12.000
10.000
FS Capex in 2018 - 2022
8.000
6.943
6.693
5.871
6.000
4.000
2.000
9.976
8.115
€mn 0
2018
2019
2020
2021
2022
F
FERROVIE
DELLO STATO
ITALIANE
2022 technical investments breakdown*
16%
1%
1%
82%
■Infrastructure
■ Passenger
■Logistics
■ Urban and other services
* In addition to the consolidated investments described above, technical investments includes the investments recognised in accordance with IFRIC 12, mostly attributable to Anas S.p.A. and FSE S.p.A.
(approximately €2.7 billion), while the remainder is comprised of the investments of unconsolidated special-purpose entities (e.g., TLF, BBT, etc.).
Informazione pubblica
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12
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