financial statements at 31 december - Ferrovie dello Stato Italiane

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Main economic ratios 2012 2011 EBITDA/OPERATING REVENUES 23.31% 21.56% ROS (EBIT/OPERATING REVENUES) 8.74% 8.03% PERSONNEL COSTS /OPERATING REVENUES (47.12)% (49.73)% Trend in corporate benchmarks N. I. 2006=100 140 125 133 129 141 131 110 95 80 112 113 89 89 2011 2012 Traffic units per employee Trains/km per km of network Operating revenues per employee 2012 Report on Operations 11
Main events in the financial year Regulatory measures January 24 January 2012 saw the adoption of decree law 1/2012 bearing “Urgent measures for competition, development of infrastructures and competitiveness”, as amended and converted by article 1, paragraph 1, of law no. 27 of 24 March 2012. The provisions of this measure that regard the railway sector are: - a Transport Regulatory Authority is to be instituted with functions including access to the infrastructure (laying down the policies for the calculation of tolls by the infrastructure manager and the policies for awarding tracks and capacity). The present Office for Regulation of Railway Services (Ufficio per la Regolazione dei Servizi Ferroviari) will be suppressed from the date on which the Authority starts operating; - a report to the Government and to Parliament is to be prepared by the Transport Regulatory Authority (by 30 June 2013) on the different degrees of separation between railway managers and track operators; - it is to be obligatory to adopt tender procedures for the awarding of local public services, even if services already awarded and contracts already executed, in accordance with the previous EU and domestic regulations, with regard to regional public railway transport services are to continue in being until the natural expiry date of their first six years of validity. As regards these regulations, by judgment no. 199 of 20 July 2012, the Constitutional Court ruled the constitutional illegality of article 4 of decree law no. 138/2011 (“Amendments to the regulations governing local public services in the light of a public referendum and European Union legislation”), both in the original version of this article and with its subsequent amendments and additions. As a result of this judgment, some provisions regarding local public railway transport were removed from Italian law, including the obligation to put services out to tender and the cancellation of the renewal (for 6 additional years) of the service contracts in place; - the railway companies’ obligation to comply with the provisions governing the regulation of treatments of personnel work as defined within the collective bargaining negotiations held by the most representative organisations at national level; - bringing the project regulation of railway infrastructures into line with the European rules (design of new High Speed infrastructures according to the related technical specifications; the general principle of bringing national rules into line with the European ones, with reference to the parameters and technical standards for the design and construction of new infrastructures, as well as for the upgrading of those existing). February Law no. 14 of 24 February 2012 amended and converted decree law no. 216 of 29 December 2011, “Extension of time limits set out by legislative provisions”. This measure provided, inter alia, for the Government to define, in agreement with the Permanent Conference for relations between the State, the Regional Governments and the Autonomous Provinces of Trento and Bolzano - by February 2012 - the efficiency-improvement and streamlining objectives for the Local Public Transport (TPL, Trasporto Pubblico Locale) as a whole in the 2012-2014 period, the consequent measures to be adopted in the first quarter of 2012, as well as the procedures for monitoring and the Ferrovie dello Stato Italiane Group 12
Page 1 and 2: FINANCIAL STATEMENTS AT 31 DECEMBER
Page 3 and 4: Board of Directors: Corporate bodie
Page 5 and 6: Letter of the Chairman In spite of
Page 7 and 8: The aim of the five-year investment
Page 9 and 10: The Group remains determined to con
Page 11: 2012 consolidated results values in
Page 15 and 16: Law no. 44 of 26 April 2012, “Con
Page 17 and 18: - Law no. 101 of 12 July 2012, “C
Page 19 and 20: Through this transaction, the Benef
Page 21 and 22: Equity investments Acquisitions and
Page 23 and 24: SpA is currently equal to Euro 163,
Page 25 and 26: price. The Base price, which allows
Page 27 and 28: Human resources The number of Group
Page 29 and 30: The reduction in staff was managed
Page 31 and 32: Environment In 2012, the Group cont
Page 33 and 34: Furthermore, the “Green Train”
Page 35 and 36: Finally, Italferr did some prelimin
Page 37 and 38: Overall the world economy grew by 3
Page 39 and 40: A sharp increase was also recorded
Page 41 and 42: a remodulation of the Milan - Turin
Page 43 and 44: As published by the UIC, the declin
Page 45 and 46: Production in trains/km 2012 2011 %
Page 47 and 48: The traffic results of the main Eur
Page 49 and 50: The FS Group’s income statement a
Page 51 and 52: This performance, as we have said,
Page 53 and 54: Revenues from Infrastructur e Servi
Page 55 and 56: STATEMENT OF RECONCILIATION at 31.1
Page 57 and 58: Trenitalia has signed contracts wit
Page 59 and 60: Income statement and statement of f
Page 61 and 62: Reclassified balance sheet ASSETS a
Page 63 and 64:
Investments Even if operated in a m
Page 65 and 66:
The table below reports the volumes
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• within IT Investments, activiti
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envisaged in the Programme Contract
Page 71 and 72:
Research and development activity I
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setting the date of start of the pr
Page 75 and 76:
Prosecutor’s Office of Catania ha
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As already described in the 2011 Co
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Other Arbitration proceedings Final
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y the Regional Administrative Court
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The effectiveness of the control sy
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in 2012 Trenitalia SpA also recorde
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Netinera Deutschland Group (Transpo
Page 89 and 90:
RFI SpA (Infrastructure) values in
Page 91 and 92:
Grandi Stazioni Group (Real Estate)
Page 93 and 94:
FS Sistemi Urbani Srl (Real Estate)
Page 95 and 96:
Ferservizi SpA (Other Services) val
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for a reorganisation of services in
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Rail), the completion of the nation
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Proposed allocation of the result f
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Consolidated statement of financial
Page 106 and 107:
Consolidated Statement of Comprehen
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Consolidated statement of cash flow
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Notes to the consolidated financial
Page 112 and 113:
The Consolidated Financial Statemen
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losses that are not derecognized, s
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Below are reported the most signifi
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technological actions aimed at ensu
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Category Depreciation rate Building
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Impairment of intangible assets and
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longer apply in the subsequent peri
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valuation techniques based on a ser
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(Istituto Nazionale di Previdenza S
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comprehensive income and directly i
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criteria to identify joint control,
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The effective date of the proposed
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v) Fair value of derivative financi
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values in €/mil. 31.12.2012 31.12
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It should be pointed out that, with
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Shift + 50 bps values in €/mil. S
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6. Assets held for sale At 31 Decem
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8. Investment properties The table
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Investments in “Others” related
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10. Deferred tax assets and deferre
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The change in scope, which was posi
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Equity investments in associates 31
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Stability Act”, Euro 101 million
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14. Inventories and Construction co
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values in €/mil. 31.12.2012 31.12
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Reserve for change in fair value on
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epayments of capital quotas of the
Page 166 and 167:
provisions for personnel for possib
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deducted by the companies against s
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26. Revenues from sales and service
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27. Other income The table below re
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29. Raw and secondary materials, co
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works contracted out on behalf of t
Page 178 and 179:
Higher capitalisations recorded in
Page 180 and 181:
38. Finance costs The table below r
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40. Current taxes, deferred tax ass
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44. Related parties Transactions wi
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Financial relations values in €/m
Page 188 and 189:
46 Group segment reporting Starting
Page 190 and 191:
2011 Transport Infrastructur e Prop
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SITA Nord s.r.l., intend to work to
Page 194 and 195:
March On 5 March 2013, the Minis
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Name c) Indirectly-controlled compa
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FS ITALIANE MAP OF CONSOLIDATION AN
Page 200 and 201:
Financial Statements of Ferrovie de
Page 202 and 203:
Income statement Values in Euro Not
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STATEMENT OF CASH FLOWS values in E
Page 206 and 207:
International Financial Reporting I
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Intangible assets Intangible assets
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In the case of equity investments v
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the estimated expected cash flows,
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the related pension plan. Profits a
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previous tax losses, for the portio
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- IFRS 10 gives practical guidance
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changes that are deemed necessary b
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5. Financial and operating financia
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The tables below report the exposur
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Derivative and non-derivative finan
Page 228 and 229:
Financial assets and liabilities by
Page 230 and 231:
7. Investment properties Below is r
Page 232 and 233:
Deferred tax assets and the Provisi
Page 234 and 235:
Changes in 2011: Net value 31.12.20
Page 236 and 237:
11. Current and non-current Financi
Page 238 and 239:
14. Non-current and current trade r
Page 240 and 241:
Profit for the year The 2012 profit
Page 242 and 243:
Below are the terms and conditions
Page 244 and 245:
22. Provisions for risks and charge
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25. Current trade payables The item
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In 2012, for a better representatio
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32. Leases and rentals The table be
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● commissions earned on sureties
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41. Profit from assets held for sal
Page 256 and 257:
Other transactions with related par
Page 258 and 259:
Subsidiaries CREDIT RELATIONSHIPS D
Page 260 and 261:
OTHER RELATIONSHIPS CONSOLIDATED TA
Page 262 and 263:
FINANCIAL RELATIONS 31.12.2012 2012
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47. Events after the balance sheet
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financial statements at 31 december - Ferrovie dello Stato Italiane

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