“FERROVIENORD has invested almost €200 million in the railway network to ensure an increasingly efficient and modern rail service.”
FERROVIENORD Chairman Pier Antonio Rossetti made this statement while commenting on the company’s 2025 financial statements, approved by its Board of Directors. The report highlights further significant achievements: 10.4 million train-kilometres operated, completion of the delivery of 214 trains for regional rail services, and 22,000 entries recorded at the Affori car park.
“Thanks to our ongoing cooperation with Regione Lombardia, we will continue investing in network development in the coming years. These projects are strategically important for improving mobility across our territories. I would like to express my personal thanks to everyone at FERROVIENORD whose ongoing commitment and professionalism help us achieve these important results.”
INVESTMENT TRENDS – From an average of €52 million per year in infrastructure investment between 2010 and 2022, FERROVIENORD has recorded substantial growth over the past three years: €117 million in 2023, €243 million in 2024, including the development of the T2–Gallarate project, and €194 million in 2025. Implementation of the Programme Agreement signed with Regione Lombardia is progressing: out of a total of 186 projects, 58 (31%) have been completed and 75 (40%) are already under construction.
INFRASTRUCTURE PROJECTS – In 2025, work progressed on several major FERROVIENORD projects. The most significant milestone was the completion of the railway connection between Terminal 2 of Milan Malpensa Airport and the RFI station in Gallarate, officially inaugurated in January 2026.
Work continued at key points across the network: construction activities are ongoing at the Seveso railway junction; work began on upgrading Milano Bovisa station, and construction started on the Saronno transport hub. To improve railway operations, the new Multistation Computerised Central Control System (ACC-M) was implemented on the Vanzaghello–Novara and Brescia–Iseo sections. The Brescia–Iseo–Edolo line underwent comprehensive upgrading between Edolo and Marone. Significant progress was also made on the hydrogen production and distribution facilities in Edolo and Iseo.
FINANCIAL RESULTS AND TRAIN FLEET – Revenue amounted to €157,783,000, EBITDA stood at €5,170,000, and operating profit reached €2,837,000.
During 2025, FERROVIENORD completed the delivery, on schedule, of all 214 new trains included in the fleet renewal contract commissioned by Regione Lombardia, backed by an investment of €1.7 billion. The fleet comprises 123 Caravaggio trains manufactured by Hitachi, 61 Donizetti trains manufactured by Alstom, and 30 Colleoni trains manufactured by Stadler, representing the largest train fleet renewal programme ever carried out by an Italian region.
NEW AFFORI CAR PARK – The car park in Via Ciccotti, Milan, built and managed by FERROVIENORD, recorded 22,000 entries in 2025.
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