In 2025, the Italian State Railways group recorded record revenues of €17.25 billion, an increase of +4.4% on the previous year. The financial report annual year ended 31 December 2025, approved today by the Board of Directors of management of the company, also shows operating costs equal to to 14.88 billion (+4.2%), EBITDA of 2.37 billion (+5.8%), EBIT of €350 million (+2.0%) and a net profit of €30 million compared to a net loss of -208 million in 2024.

"2025 - commented the CEO and general manager of the FS Italiane group, Antonio Donnarumma - marks a significant step in the growth path of the group. With more than €18 billion of technical investment, the highest level ever reached, operating revenues rose to 17.3 billion euros, growing, and net profit back positive at 30 million euros. A particularly that confirms the solidity of our model even in a phase of maximum acceleration of the investments and profound transformation of the group. This trend is part of a development trajectory consistent with the 2025-2029 Strategic Plan, which provides for over 100 billion euros of investment to support modernisation infrastructure, improve the quality of service, strengthen sustainability and consolidate the presence international. Operating revenues - added Donnarumma - record a new all-time high, supported by the growth of transport services and with an increasingly significant contribution of international activities. The main economic indicators, with an increase in EBITDA and a capital and financial structure that remains solid and balanced, in support of a long-term investment plan period. The group - he underlined - also continues to contribute significantly to economic development and employment in the country, with over 8,500 new hires over the course of of the year, confirming its role as a major platform at the service of mobility and infrastructure".

In 2025, the overall passenger traffic volumes in terms of of passenger-km amounted to 37.3 billion passenger-km by rail (-0.8%) and over one billion passenger-km by road (-1,0%). Last year, the operating revenues of the business unit Passenger Transport amounted to 6.39 billion euros (-1.8%). The company explained that the higher traffic revenues of 6.25 billion (+0.5%), related to the purchasing dynamics by the are offset by lower other revenues and the effects of the change in the scope of consolidation. EBITDA recorded 1.58 billion euros (-11.7%), operating profit 386 million (-38.1%) and the net profit of the business unit was 106 million euros (-66.8%).

Last year, the operating revenues of the Transportation business unit Goods, amounting to 1.41 billion euros, marked an increase of +3.5% on 2024 in the face of decreasing traffic volumes both in demand terms (22.03 billion tonne-km; -3.8% on 2024) (45.99 million train-km; -5.1%), due to the weak macroeconomic environment. The increase in revenues - specified the company - is mainly related to results of the TX Logistik group and Mercitalia Shunting & Terminal for the resumption of intermodal transport, more filling, less cancellations and increase in rates. The EBITDA of the business Unit amounted to €105 million (+72.1%), while EBIT and net result were both negative and equal to respectively at -43 million and -96 million against -73 million and -124 million in 2024.