FNM SpA
MIL:FNM
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FNM SpA
FNM SpA is a holding company, which engages in the provision of transport and mobility services. The company is headquartered in Milan, Milano and currently employs 2,842 full-time employees. The firm structures its business into three main sectors: Holding, Railway Infrastructure Management and Road Passenger Transport. The Holding sector includes the provision of accounting services; personnel administration; support to the project development; business and legal advice; purchases, tenders and contracts management; human resources management, and communication services, among others. In the Railway Infrastructure Management sector, the Company is active in the management, maintenance and construction of facilities for railway passenger transport in the region of Lombardy, Italy. In the Road Passenger Transport sector, it provides public transport bus services in the provinces of Varese, Como and Brescia, in Italy.
FNM SpA is a holding company, which engages in the provision of transport and mobility services. The company is headquartered in Milan, Milano and currently employs 2,842 full-time employees. The firm structures its business into three main sectors: Holding, Railway Infrastructure Management and Road Passenger Transport. The Holding sector includes the provision of accounting services; personnel administration; support to the project development; business and legal advice; purchases, tenders and contracts management; human resources management, and communication services, among others. In the Railway Infrastructure Management sector, the Company is active in the management, maintenance and construction of facilities for railway passenger transport in the region of Lombardy, Italy. In the Road Passenger Transport sector, it provides public transport bus services in the provinces of Varese, Como and Brescia, in Italy.
Revenue Growth: FNM reported revenue of EUR 456.3 million for the first 9 months of 2023, up 2% from the previous year.
EBITDA Increase: EBITDA rose by 3.4% to EUR 161 million, or 5.9% on a like-for-like basis, driven by recovery in rail and bus traffic.
Net Profit Dip: Net result was EUR 56.5 million, slightly lower than last year due to higher financial charges.
Debt Reduction: Net financial position improved, with debt decreasing by EUR 55 million to EUR 711.9 million.
Traffic Recovery: Light motorway traffic has fully recovered to pre-pandemic levels; bus and rail passenger volumes are up but still about 10% below 2019.
CapEx Down: Capital expenditures halved versus last year, mainly due to delayed delivery of rolling stock, but guidance for 2025 is retained.
Guidance Unchanged: EBITDA margin expected to remain in line with 2022, and management reaffirmed 2025 guidance.
