Ferrovie dello Stato’s logistics group records volume and financial drop

The logistics branch of the Italian state-owned railway holding Ferrovie dello Stato (FS) posted negative numbers across the board during the first half of 2024. The group of seven companies, led by Mercitalia Rail, Mercitalia Logistics and TX Logistik, saw a decrease in both volumes and financial performance.

Concerning volumes, a drop was observed in tonnes/km as well as trains/km.The former decreased by 11.5 per cent, from 11,065 to 9,793 tonnes/km. For volumes outside the Italian border, the drop was more significant, going from 5,447 to 4,583, 15,9 per cent less compared to the first half of 2023. Regarding trains/km, the numbers went from 22,719 to 20,833, a loss of 8.3 per cent. Concerning services outside of the Italian borders, the drop was slightly more steep, at 9 per cent, from 10,483 to 9,539 train/km.

When it comes to financial data, the EBITDA of FS’ logistics branch decreased by 37.9 per cent, from 29 to 18 million euros. This trend was justified by FS by the increase in personnel and other operational costs incurred by TX Logistik, the international rail freight operator of the group, despite the acquisition of Exploris Group. It needs to be mentioned that, despite the negative numbers, FS claims that “technical investments” grew by 135 per cent in the first half of 2024 compared to the same period last year, rising from 51 to 120 million euros. Most of these investments concerned fleet renovation.

A national negative trend

The numbers posted by FS’ logistics branch reflect the hardships that the Italian rail freight sector is currently facing. Volumes are generally decreasing, as the numbers for 2023 already showed, and the sector is currently in a fragile position. Between subsidy cancellations and infrastructure works that will disrupt traffic, prompt solutions are necessary, as the sector associations are stressing.