In the first semester of the 2015 operating result of Italian Railroads of the State it has recorded a decrease of -24%



Yesterday board of directors of the group Italian Railroads of the State, has approved of the relation semiannual financial institution on June 30, 2015 that an increment of +2.5% of the result regarding the same period of 2014 shows clearly attesting itself to 292 million euros. The group has specified that this result "is obtained also in the presence of discontinuity, is positive that negative, deriving from the changed normative and regolatorio picture and in the presence of left positive financial institutions of extraordinary nature" and that "some of such effects had already weighed on the second part of 2014, but totally they have unfolded in the current exercise".

The group has specified that the result clearly "benefits is of the improvement of the balance financial proceeds and clean burdens (- 76 million euros) is of the reduction of the fiscal cargo that it has seen to diminish the total taxes of 65.5%, for a amount pairs to 36 million euros, thanks to the measures introduced from the current government (law 190/2014, so-called Law of Stability 2015). Such measures - it has remembered Railroads of the State - allow, to pass from the period of tax 2015, substantial deductibility from the tax basis REGIONAL BUSINESS TAX of the costs for staff employee employed to indeterminate time".

Italian railroads of the State have announced that the EBITDA has been pairs to 948 million euros (- 7.7%) and that "reflects the results of the ordinary management, that they are obtained acting on the managerial levers; in particular the operating revenues (4.193 million euros, ndr) - it has explained the company - increase of 31 million euros (+0.7%), hauled from the railway services of average and long distance. These last ones close the first semester of the year with an increment clearly of 20 million euros to lead back themselves mainly to the ulterior, important increase of the produced ones to market of the Arrows, pairs altogether to about 29 million euros. The difference of the EBITDA regarding the data of first semester 2014 (- 79 million euros) are therefore to mainly lead back to the impact of factors exogenous negatives (- 87 million euros) due to the changed normative and regolatorio context of the second half of 2014".

Operating profit (EBIT) has turned out pairs to 333 million euros, with a decrease of the -24,0% on the first semester of 2014, deviation - it has specified the Italian railway group - "widely riconducibile to already cited effects of the changed normative and regolatorio picture" to which "it joins, online with the forecasts, the increase of the amortizations (34 million euros), tied to the development of the investments of the group that they have seen, in the first half of 2015, volumes pairs to 2.088 million euros (+36% on the analogous period of 2014)".