The state-owned company announced that its earnings were mainly driven by an “increase in revenues and the 2023 results were significantly impacted by tax expenditure due to fiscal changes introduced that year.”
The company further explained that operating revenues reached €1.554 billion, which is €199 million higher than in 2023.
“The changes affecting the outcome are linked to increased revenue from major sources, notably the Consignment of Road Service (+€49 million) and the Railway Infrastructure Usage Fee (+€15 million), partially offset by a reduction in revenue from IP Road Tolls (-€14 million),” stated the company.
The group also noted an increase in revenue from Compensatory Indemnities (+€52 million) “as a result of the approval of Resolution of the Council of Ministers No. 3/2024 of January 5, and the subsequent signing of the Railway Program Contract for the 2024-2028 period.”
Last year, the company achieved a positive operating result of €331 million, marking an increase of €125 million compared to 2023.
The company disclosed that the previous year “was marked by strong growth in investment in railway and road networks, which amounted to €776 million, representing a 25% increase compared to the same period in 2023 and the highest value achieved since 2010.”
Regarding investment aimed at the renovation and modernization of the National Railway Network, it totaled €625 million, “of which €472 million was part of the Railway Investment Program 2020.”
In the National Road Network, investment in 2024 amounted to €108 million.
During the past year, the company’s operational expenses were set at €1.223 billion, “representing a growth of 6% over the previous year, primarily justified by the increase in costs without an impact on the outcome as they were offset by a change of a similar amount in operational revenue,” the company explained.
There was also a “reduction in the amounts allocated to provisions and depreciations compared to the same period last year, while the activity level for road and railway network maintenance and preservation remained stable at €218 million,” stated the company.
In 2024, it was confirmed, the “trajectory of reducing the financial debt ‘stock’ continued, achieving a decrease of €573 million,” setting it at the end of December 2024 at €3.284 billion.
“Noteworthy is the continuation of the shareholder-led financing policy focused on company capitalization through capital increase operations which, in 2024, amounted to €1.817 billion. This amount was used for financing debt service, railway investments, and part of the expenses with road PPPs [public-private partnerships],” the report concluded.
