FS posts a loss of 200 million in the first half of 2026. Revenue rises
Among the transactions carried out during the half-year were the acquisition of Firema (€41 million) and Pizzarotti’s rail operations (€180 million)
The FS Group closed the first half of 2026 with a net loss of €200 million, a deterioration of €111 million compared with the corresponding period of the previous financial year. This was announced by FS in a statement after the group’s Board of Directors, chaired by Chairman Tommaso Tanzilli, approved the consolidated half-yearly financial report as at 30 June 2026.
“This trend reflects the decline in EBITDA (–€86 million) and the increase in depreciation, amortisation, provisions and write-downs (–€49 million), which were only partially offset by the positive contribution from financial and tax management (+€24 million)”, explains FS. Total operating revenue rose to €8.9 billion, an increase of €678 million compared with the first half of 2025, “attributable to higher revenue from rail and road infrastructure services (€214 million) and other revenue (€489 million), against lower transport revenue (€25 million),” the railway group adds. Technical investments rose by 21 per cent to €10.2 billion.
Among the transactions carried out during the half-year were the acquisition of Firema in March for €41 million and that of Pizzarotti’s rail operations for €180 million.
