DOCSLIB.ORG

THE SECRETARY of STATE for TRANSPORT and FIRST TRENITALIA WEST COAST RAIL LIMITED

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
THE SECRETARY of STATE for TRANSPORT and FIRST TRENITALIA WEST COAST RAIL LIMITED VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY RAIL PUBLIC REGISTER COPY REDACTED IN ACCORDANCE WITH FOIA 2000 Dated 19 September 2020 THE SECRETARY OF STATE FOR TRANSPORT and FIRST TRENITALIA WEST COAST RAIL LIMITED EMERGENCY RECOVERY MEASURES AGREEMENT ("ERMA") WCP Franchise Agreement (ERMA) VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY Table of Contents Contents Page 1 Interpretation and Construction ............................................................. 1 2 Purpose of this ERMA and survival of EMA provisions ............................ 3 3 Commencement and Term ...................................................................... 4 4 Termination of the Franchise Agreement ............................................... 7 5 Amendments to the Franchise Agreement .............................................. 7 6 Co-operation .......................................................................................... 7 7 Additional Services ................................................................................. 7 8 Meetings ................................................................................................ 8 9 Remedial Plans ....................................................................................... 8 10 Fares ...................................................................................................... 9 11 Funding Deed ....................................................................................... 10 12 ICWC Change ....................................................................................... 10 13 Early ERMA Termination ....................................................................... 11 14 Relevant Obligations ............................................................................ 11 15 COVID-19 Related Support ................................................................... 12 16 State Aid and Procurement................................................................... 12 17 Warranties ........................................................................................... 13 18 Long Term Arrangements ..................................................................... 13 19 Confidentiality and Disclosure .............................................................. 14 20 Entire Agreement ................................................................................. 14 21 Counterparts ........................................................................................ 14 22 Costs .................................................................................................... 15 23 Governing Law ..................................................................................... 15 24 Rights of Third Parties .......................................................................... 15 Schedule 1 Amendments to the Franchise Agreement .................................. 18 Appendix 1 to Schedule 1 Schedule 1A (Passenger Service Obligations) ... 145 Appendix 2 to Schedule 1 Schedule 6.7A (ERMA Specific Obligations) ....... 234 Appendix 3 to Schedule 1 Schedule 7.1A (Operational Performance) ........ 262 Appendix 4 to Schedule 1 Schedule 8.1(ERMA) (Franchise Payments)....... 273 Appendix 5 to Schedule 1 Schedule 8.8A (Performance Based Fee) ........... 316 Appendix 6 to Schedule 1 Schedule 11.2A (Management Information) ...... 375 Appendix 7 to Schedule 1 Appendix 2 (D&I Strategy) to Schedule 13.1 ((Rail Industry Initiatives and Co-operation) ............................................... 439 Schedule 2 Termination of the Franchise Agreement ................................. 443 Appendix 1 Termination Sum Principles ..................................................... 451 WCP Franchise Agreement (ERMA) i VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY Schedule 3 Early ERMA Termination ........................................................... 460 Schedule 4 Funding Deed, PCS Bond and Performance Bond………..…………471 WCP Franchise Agreement (ERMA) ii VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY This Agreement is made on the 19 September 2020 between: (1) SECRETARY OF STATE FOR TRANSPORT, whose principal place of business is at Great Minster House, 33 Horseferry Road, London SW1P 4DR (the "Secretary of State"); and (2) FIRST TRENITALIA WEST COAST RAIL LIMITED (company number 10349442), whose registered office is at 4th Floor, Capital House, 25 Chapel Street, London NW1 5DH (the "Franchisee"), each a "Party" and, together, the "Parties". Recitals: (A) The Secretary of State and the Franchisee entered into a franchise agreement dated 28 August 2019 in respect of certain railway passenger services designated by the Secretary of State as eligible for provision under franchise agreements (the "Franchise Agreement"). (B) On 11 March 2020 the World Health Organisation declared the coronavirus disease 2019 ("COVID-19") a pandemic. COVID-19 has had (and it is anticipated that COVID-19 will continue to have) a significant impact on the operation of rail services in the United Kingdom. (C) The Secretary of State and the Franchisee amended the Franchise Agreement to address the impact of the COVID-19 outbreak on Train Operators by suspending or amending the operation of specific provisions, and introducing additional requirements, under the terms of the Franchise Agreement in accordance with the terms of, and for the duration of the term of, an emergency measures agreement which was entered into on 31 March 2020 and took effect on 1 April 2020 (the "EMA Start Date") between the Secretary of State and the Franchisee (the "EMA"). (D) The Parties now wish to record their agreement regarding further amendments to the Franchise Agreement by further suspending, supplementing and/or amending certain provisions of the Franchise Agreement (including certain amendments to protect taxpayers' interests and to reflect the ongoing reduction in rail travel as a result of COVID-19) to address the ongoing direct and indirect impacts of COVID-19 during the term of this Agreement by entering into this Emergency Recovery Measures Agreement (the "ERMA") to replace the EMA following its expiry at 01:59 on 20 September 2020. (E) The Franchisee acknowledges that this ERMA is entered into pursuant to article 5(5) of Regulation (EC) 1370/2007. The Parties agree as follows: 1 Interpretation and Construction 1.1 Interpretation In this ERMA (unless the context otherwise requires): words and expressions defined under the Franchise Agreement and the Act shall have the same meanings when used in this ERMA provided that, WCP Franchise Agreement (ERMA) Page 1 of 474 VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY except to the extent expressly stated, "railway" shall not have the wider meaning attributed to it by section 81(2) of the Act; words and expressions defined in the Interpretation Act 1978 shall have the same meanings when used in this ERMA; the words "including", "include" and "in particular" are to be construed without limitation; references to a person include its successors, transferees and assignees; references in this ERMA to Clauses and Schedules are to Clauses and Schedules of this ERMA unless expressly specified to the contrary; headings and references to headings shall be disregarded in construing this ERMA; references to an agreement or other document shall be construed as referring to that agreement or document as from time to time supplemented, varied, replaced, amended, assigned or novated; words importing the masculine gender include the feminine gender and vice versa and words in singular include the plural and vice versa; wherever provision is made for the giving or issuing of any notice, endorsement, consent, approval, waiver, certificate, direction, guidance or determination by any person, unless otherwise specified, such notice, endorsement, consent, approval, waiver, certificate or determination shall be in writing and the words "notify", "endorse", "consent", "approve", "waive", "certify", "direct", "guide" or "determine" and other cognate expressions shall be construed accordingly; references to sums of money being expended by the Franchisee shall be to such sums exclusive of Value Added Tax; and wherever provision is made for the Franchisee to "procure" or "ensure" the delivery of an obligation under the Franchise Agreement, unless otherwise specified, that provision shall be construed as a primary obligation on the Franchisee to deliver that obligation. 1.2 Construction This ERMA shall succeed the EMA immediately upon the expiry of the EMA in accordance with its terms on 20 September 2020. This ERMA is supplemental to and shall be read and construed together with the Franchise Agreement and this ERMA and the Franchise Agreement shall together constitute one and the same document. In the event of conflict between: a. the terms of this ERMA and the terms of the Franchise Agreement, subject to Clause SIR(b), the terms of this ERMA shall prevail; and b. the terms of the PasOsenger Survey Methodology and the terms of the Franchise Agreement (as amended pursuant to the terms of this WCP Franchise Agreement (ERMA) Page 2 of 474 VERSION 1.0X ERMA FOIA 2000 PUBLIC REGISTER COPY ERMA), the terms of the Franchise Agreement (as amended pursuant to the terms of this ERMA) shall prevail. Save as expressly provided for in this ERMA, the Franchise Agreement shall continue in full force and effect. Any reference to the "term" or "duration" of this ERMA shall mean the ERMA Term and any Extended Term (if applicable) in accordance with Clause
Load more

Recommended publications
  • 37685 70 1.Pdf
    IT DECISIONE DELLA COMMISSIONE del 27.08.2003 in un procedimento ai sensi dell'articolo 82 del trattato CE (COMP/ 37.685 GVG/FS) LA COMMISSIONE DELLE COMUNITÀ EUROPEE, visto il trattato che istituisce la Comunità europea, visto il regolamento (CEE) n. 17 del Consiglio, del 6 febbraio 1962, primo regolamento di applicazione degli articoli 85 ed 86 del trattato1, modificato da ultimo dal regolamento (CE) n. 1216/992, in particolare l'articolo 3 e l'articolo 15, paragrafo 2, visto il regolamento (CEE) n. 1017/68 del Consiglio, del 19 luglio 1968, relativo all'applicazione di regole di concorrenza ai settori dei trasporti ferroviari, su strada e per vie navigabili3 vista la domanda con la quale la società a responsabilità limitata Georg Verkehrsorganisation GmbH, a norma dell'articolo 10 del regolamento (CEE) n. 1017/68 in data 25 ottobre 1999 ha denunciato, in data 25 ottobre 1999, un'infrazione all'articolo 82 del trattato CE, vista la decisione della Commissione del 21 giugno 2001 di avviare il procedimento nel caso di specie, dopo aver dato alle imprese interessate l'occasione di manifestare il proprio punto di vista circa gli addebiti comunicati dalla Commissione, a norma dell'articolo 19, paragrafo 1 del regolamento n. 17 e dell'articolo 26 del regolamento (CEE) 1017/68, in combinato disposto con il regolamento (CE) n. 2842/98 della Commissione, del 22 dicembre 1998, relativo alle audizioni in taluni procedimenti a norma dell'articolo 85 e dell'articolo 86 del trattato CE4, sentiti il Comitato consultivo in materia di intese e di posizioni dominanti ed il Comitato consultivo in materia di intese e di monopoli nel settore dei trasporti, 1 GU 13 del 31.3.1962, pag.
    [Show full text]
  • COGNOME NOME JOB TITLE Di Mauro Massimo DSI Architettura Di Rete BOREGGI IRENE Welfare Manager FSI Degni Alessandra Quadro
    COGNOME NOME JOB TITLE Di Mauro Massimo DSI Architettura di Rete BOREGGI IRENE Welfare Manager FSI Degni Alessandra Quadro - Responsabile Formazione Finanziata Ciarniello Michele Ingegnere VOLTA LUCIANO ITALO GEOMETRA/IMPIEGATO DIRETTIVO Sperandeo Danilo Impiegato Direttivo Cannatella Marianna Quadro CARDAMONE EUGENIA QUADRO - SENIOR INTERNAL AUDITOR cosentini concetta avvocato D'ANNA EMILIO ISPETTORE DI CANTIERE Sciannameo Raffaella Geometra/Quadro PROCOPIO MONIA Q SCIOLI LUCA QUADRO/SPECIALISTA SEGRETERIA SOCIETARIA Parisi Daniela Architetto / Tecnico Amministrativo POinto Armida Ingegnere volpini cristina Ingegnere/Impiegato direttivo Bacarella Antonietta Hr Specialist Lasaponara Francesco Ingegnere Civile Giovannini Martina Impiegata Trecca Ottavia Internal Auditor Barragato Liliana Formatore Treni dozzo narciso professional DELLA SMIRRA FABIO IMPIEGATO DIRETTIVO Geusa Giorgio Responsabile Piattaforma Tecnologica Intermodale - DCISI FRATERNALI FRANCESCO TECNICO SPECIALIZZATO Iacopino Oreste Tecnico d'ufficio ANTINORI Antonella specialista comunicazione d'azienda pietropaolo lucia Q2 Gentili Elisa Specialista controllo investimenti PIETROPAOLO LUCIA Q2 Claudio Fabrizi macchinista MANZO ANTONIA CRISTINA Responsabile struttura operativa Oscurato Rosa Ingegnere/Tecnico MORABITO ANNA PROFESSIONAL Corradini Valerio Tecnico della Circolazione DI PALERMO GISELLA IMPIEGATO DIRETTIVO SICARI ALBERTO CAPO TRENO Ulanio Fabiola Impiegato Direttivo - DCER Contrattualistica Porcelli Eugenia Ingegnere Ambientale Laghezza Roberto RFI SpA - Direttore
    [Show full text]
  • TGV Paris-Milan
    22nd Hellenic Logistics Conference Athens, 28-29 November 2018 Luisa Velardi 1. Single European Railway Area 2. Trains beyond borders 3. Companies beyond borders 2. Trains beyond borders 1. Single European Railway Area 3. Companies beyond borders Opening up national freight and passenger markets to cross-border competition has been a major step towards creating an integrated European railway area and a genuine EU internal market for rail • Boosting competition. Different organisational entities must be set up for transport operations on the one hand and infrastructure management on the other. • Opening markets Europe-wide. As well as encouraging greater competition within national markets, EU legislation gives rail operators the ability to run services in and between other EU countries, opening up cross-border competition. Source: https://ec.europa.eu/transport/modes/rail/market_en 2. Trains beyond borders 1. Single European Railway Area 3. Companies beyond borders Technical pillar • save firms from having to file costly multiple applications in the case of operations beyond one single Member State. ERA will issue vehicle authorizations for placing on the market and safety certificates for railway undertakings, valid throughout the EU. • create a "One stop shop" which will act as a single entry point for all such applications, using easy, transparent and consistent procedures. • ensure that European Rail Traffic Management System (ERTMS) equipment is interoperable. • reduce the large number of remaining national rules, which create a risk of insufficient transparency and disguised discrimination of new operators. Source: https://ec.europa.eu/transport/modes/rail/packages/2013_en 2. Trains beyond borders 1. Single European Railway Area 3.
    [Show full text]
  • Avanti West Coast Complaints
    Avanti West Coast Complaints Hebert machines sluggishly while labyrinthine Venkat word hesitatingly or denigrates mitotically. Vexatiously croupous, Iain jokes reduplications and Sellotapes bunnies. Upstanding Emmott sometimes eats his potoroo everyway and posits so stilly! Text copied to avanti west coast is especially during the trainline at warrington bank details may not offered premium that your website that talk to hinder fare Who owns Avanti rail? Virtual Avanti West who work community for UTC Warrington. The hard of an Avanti West side train showing the new logo as it waits to baby from London's Euston Station with its inaugural journey along. We caught her character tina carter is lancs live your complaints. BusinessLive took one of simple first ever London Euston to Liverpool Lime Street Avanti West Coast services to pool out 1 Train doors close TWO. Made gifts to mark statistics are deemed to workplaces and complaints, a complaint direct london to have to be recorded as avanti. Trenitalia Wikipedia. Railway nationalization Wikipedia. Avanti West Coast Complaints Resolver. Train Ticket Refunds Avanti West Coast. Remuneration policy read about avanti west coast complaint using resolver we were kept so people. An El Dorado Hills family received an anonymous noise complaint about their autistic daughter This El. How to avanti operates extensively in. It was selected services. Avanti West Coast latest news breaking stories and. Did glasgow to show or otherwise endorsed by commuter railroads? 201 Avanti Bar Fridge w Freezer Underneath Inside Cabinet. Protect Avanti West bank Customer Resolution Jobs rmt. How to its website crashed. There are certainly quite a number of complaints because some.
    [Show full text]
  • A Study by Thomas Manthei – Tmrail
    a Study by Thomas Manthei – TMRail All rights reserved by the author. first publication 2004 © 2004, 2021 TMRail - Thomas Manthei CH 6333 Hünenberg (ZG) Switzerland https://tmrail.jimdosite.com CONTENTS 1. Foreword to the updated edition 2021 ......................................................................... 4 2. Foreword (2004 Version) ................................................................................................. 4 3. Author and Publishers (Updated version 2021) ....................................................... 6 The Publisher ................................................................................................................................................. 6 The Author ...................................................................................................................................................... 6 1. Management Summary (2004 version) ....................................................................... 7 Abstract: ........................................................................................................................................................... 7 Results: ............................................................................................................................................................ 7 2. Topics and Methods .........................................................................................................10 Definition (2004 version) ...........................................................................................................................
    [Show full text]
  • Trenitalia Umbria E Festival Dei 2 Mondi: Insieme Per Un Turismo Culturale E Rispettoso Dellambiente
    Data pubblicazione: 13/06/2019 Data pubblicazione: 14/06/2019 FSNEWS.IT ApriUrl: il link link originale TRENITALIA UMBRIA E FESTIVAL DEI 2 MONDI: INSIEME PER UN TURISMO CULTURALE E RISPETTOSO DELLAMBIENTE Ferrovie dello Stato Società del Gruppo Lavora con noi Fondazione FS Museo di Pietrarsa Acquista biglietto AAA Cerca nel sito cerca Aut. SIAE 1312/I/1382 - Lic. Società Consortile Fonografici 577/08 Gruppo FS Infomobilità #lamusicastacambiando I magazine + FSNews Radio Palermocataniamessina.it Napolibari.it Home > Gruppo FS Italiane Trenitalia Umbria e Festival dei 2 Mondi: insieme per un turismo culturale e rispettoso dell’ambiente Trenitalia Regionale Official Carrier della kermesse, sconti e promozioni per chi utilizzerà il treno per raggiungere Spoleto. Agevolazioni estese anche agli abbonati dell’Umbria Perugia, 13 giugno 2019 In treno a Spoleto per partecipare gli eventi della 62^ edizione del Festival dei 2 Mondi, in programma dal 28 giugno al 14 luglio. Chi sceglierà di raggiungere la città con i treni regionali di Trenitalia, Official Carrier dell'evento, potrà beneficiare dello sconto del 20% sul prezzo dei biglietti per i singoli spettacoli e delle differenti formule di Festival Card, gli speciali abbonamenti che consentono di assistere a più spettacoli ad un prezzo ancor più vantaggioso. Le agevolazioni sono riservate anche agli abbonati dell’Umbria, ai quali basterà esibire l’abbonamento regionale e sovraregionale Trenitalia in corso di validità, con origine o destinazione in una qualunque stazione dell’Umbria. La partnership Trenitalia Umbria a Festival dei Due Mondi di Spoleto è nata con l’obiettivo di promuovere il turismo culturale all’insegna del rispetto dell’ambiente.
    [Show full text]
  • Grandi Stazioni Rail Spa RELAZIONE FINANZIARIA ANNUALE AL 31
    ___________________________________________________________________________ Grandi Stazioni Rail SpA RELAZIONE FINANZIARIA ANNUALE AL 31 DICEMBRE 2016 Relazione finanziaria annuale 2016 1 ___________________________________________________________________________ Grandi Stazioni Rail SpA Capitale Sociale: euro 4.304.201,10 interamente versato. Sede legale: Via G. Giolitti n. 34 – 00185 ROMA REA di Roma : 841620 Codice fiscale e Partita IVA: 05129581004 WEB: www.grandistazioni.it Relazione finanziaria annuale 2016 2 ___________________________________________________________________________ Missione della Società Grandi Stazioni Rail SpA fa parte del Gruppo Ferrovie dello Stato Italiane ed è incaricato di gestire i 14 principali scali ferroviari italiani: Roma Termini, Milano Centrale, Torino Porta Nuova, Firenze Santa Maria Novella, Bologna Centrale, Napoli Centrale, Venezia Mestre e Santa Lucia, Verona Porta Nuova, Genova Piazza Principe e Brignole, Palermo Centrale, Bari Centrale e Roma Tiburtina. In particolare la mission della società nell’ambito della gestione delle stazioni sopra menzionate consiste nello svolgimento dell’attività relativa ai servizi integrati pertinenti a: • la gestione dei servizi di conduzione e di manutenzione sui complessi immobiliari di stazione ferroviaria; • lo sfruttamento commerciale delle unità ad uso direzionale (comprensive di uffici, ricettivo e logistica); • la gestione dei parcheggi; • la gestione delle aree e dei locali destinati alle biglietterie e le sale d’attesa (esclusi gli spazi commerciali
    [Show full text]
  • Rete Ferroviaria Italiana S.P.A. 2017 ANNUAL REPORT
    (Translation from the Italian original which remains the definitive version) Rete Ferroviaria Italiana S.p.A. 2017 ANNUAL REPORT DISCLAIMER The English version is a translation of the original in Italian for information purposes only. In case of a discrepancy, the Italian original will prevail. RFI S.p.A. RETE FERROVIARIA ITALIANA – S.p.A. – Ferrovie dello Stato Italiane group Company with sole shareholder, managed and coordinated by Ferrovie dello Stato Italiane S.p.A. pursuant to article 2497 sexies of the Italian Civil Code and Legislative decree no. 112/2015 Registered office: Piazza della Croce Rossa 1, 00161 Rome Fully paid-up share capital: €31,525,279,633.00 Registered with the Rome company registrar Tax code: 01585570581 and VAT number: 01008081000 - R.E.A. number: 758300 2017 Annual Report 2 RFI S.p.A. COMPANY MISSION Rete Ferroviaria Italiana S.p.A. (“RFI S.p.A.”) is the Ferrovie dello Stato Italiane group (“FS Italiane group”) company responsible for managing the national railway infrastructure. With decree no. 138 – T of 31 October 2000, the Ministry of Transport and Navigation assigned the company a 60-year concession to operate the Italian railway infrastructure. RFI S.p.A. owns the infrastructure consisting of the portion that belonged to the former public body, Ferrovie dello Stato (and which now makes up RFI S.p.A.’s assets) and the portion acquired subsequently using own funds. The infrastructure was previously funded through third party financing, then through capital injections from the government and Ferrovie dello Stato Italiane and currently through government grants related to assets.
    [Show full text]
  • Trenitalia Orders Frecciarossa 1000 Hsts Virtual Reality For
    lay R 319 tisk.qxp_Railvolution 23.07.19 22:42 Stránka 6 Trenitalia Orders effort of 370 kN. Seating capacity will Frecciarossa 1000 HSTs be 457 (300 in standard, 76 in premium, On 4 June 2019 Trenitalia awarded 69 in business and 10 in executive class). a contract worth around 575 million EUR Two wheelchair spaces will be provided. to a 60/40 % joint venture formed by The trains will comply with all cur- Hitachi Rail and Bombardier Transporta- rent TSIs, and will be designed for use tion for 14 Frecciarossa 1000 (ETR 400) in France, Germany, Spain, Austria, Type V300 ZEFIRO high speed trains. Switzerland, Netherlands and Belgium, The contract includes ten years of main- being equipped with all pertinent ATP tenance and servicing by the manufac- systems, including ETCS. However, their turers. For Bombardier the deal is worth exact areas of operation will be deter- 233 million EUR and for Hitachi 342 mil- mined by Trenitalia. When the first batch lion EUR. of 50 ETR 400s was ordered, a similar Trenitalia currently has a fleet of wide international operating range was On 4 June 2019 the Italian rail regu- to target the international market or 50 Frecciarossa 1000s, built between envisaged. Deliveries are to start within lator ARAFER announced that Trenitalia practise cabotage on the domestic 2013 and 2017. Like these, the follow- 18 months of the date on which the subsidy Thello had informed it of its in- French one. Thello states that its aim is ing 14 will be built in Italy, at Hitachi’s contract was signed.
    [Show full text]
  • BASE PROSPECTUS FERROVIE DELLO STATO ITALIANE S.P.A
    BASE PROSPECTUS FERROVIE DELLO STATO ITALIANE S.p.A. (incorporated with limited liability in the Republic of Italy) €4,500,000,000 Euro Medium Term Note Programme This Base Prospectus has been approved by the Central Bank of Ireland, as competent authority under Directive 2003/71/EC, as amended (the "Prospectus Directive"). The Central Bank of Ireland only approves this Base Prospectus as meeting the requirements imposed under Irish and EU law pursuant to the Prospectus Directive. This Base Prospectus comprises a Base Prospectus for the purposes of Article 5.4 of the Prospectus Directive. Application has been made to the Irish Stock Exchange for notes ("Notes") issued under the Euro Medium Term Note Programme described herein (the "Programme") within twelve months after the date hereof to be admitted to the Official List of the Irish Stock Exchange (the "Official List") and trading on its regulated market (the "Main Securities Market"). The Main Securities Market is a regulated market for the purposes of Directive 2004/39/EC (the "Markets in Financial Instruments Directive"). Such approval relates only to the Notes which are to be admitted to trading on a regulated market for the purposes of the Markets in Financial Instruments Directive and/or which are to be offered to the public in any Member State of the European Economic Area. The Programme also permits Notes to be issued on the basis that they will not be admitted to listing, trading and/or quotation by any competent authority, stock exchange and/or quotation system or to be admitted to listing, trading and/or quotation by such other or further competent authorities, stock exchanges and/or quotation systems as may be agreed with the Issuer.
    [Show full text]
  • 2017 Annual Report(.Pdf — 6403
    (Translation from the Italian original which remains the definitive version) 2017 ANNUAL REPORT CONTENTS 2017 ANNUAL REPORT 1 Chairwoman’s letter 1 Group highlights 8 DIRECTORS’ REPORT 15 Non-financial information – Methodology for reporting non-financial information 16 The group’s financial position and performance 18 Business model 27 Segment reporting 29 FS Italiane S.p.A.’s financial position and performance 40 Investments 44 Research, development and innovation 53 Context and focus on FS Italiane group 55 Report on corporate governance and the ownership structure 82 Sustainability in the group 102 Stakeholders 117 Main events of the year 136 Risk factors 145 Travel safety 151 Other information 152 The parent’s treasury shares 159 Related party transactions 160 Outlook 161 Consolidated financial statements of Ferrovie dello Stato Italiane group as at and for the year ended 31 December 2017 162 Consolidated financial statements 163 Notes to the consolidated financial statements 169 Annexes 263 Separate financial statements of Ferrovie dello Stato Italiane S.p.A. as at and for the year ended 31 December 2017 276 Financial statements 277 Notes to the separate financial statements 283 Proposed allocation of the profit for the year of Ferrovie dello Stato Italiane S.p.A. 345 Ferrovie dello Stato Italiane group 2 Chairwoman’s letter Dear Shareholder, Ferrovie dello Stato Italiane group posted excellent results for 2017, in line with the challenging 2017-2026 business plan approved by the board of directors in September 2016. In their collective pursuit of the objectives set forth in this business plan, the group companies are highly focused on protecting their businesses and satisfying their stakeholders, with a strong sense of belonging and shared accountability for the achievement of their common strategic goals.
    [Show full text]
  • Trenitalia S.P.A
    (Translation from the Italian original which remains the definitive version) Trenitalia S.p.A. Financial statements as at and for the year ended 31 December 2017 (with report of the auditors thereon) KPMG S.p.A. 19 March 2018 ANNUAL REPORT (Translation from the Italian original which remains the definitive version) TRENITALIA S.p.A. Trenitalia S.p.A. Company with sole shareholder, managed and coordinated by Ferrovie dello Stato Italiane S.p.A. Registered office: Piazza della Croce Rossa 1, 00161 Rome Fully paid-up share capital: €1,417,782,000.00 Rome R.E.A. no. 0883047 Tax code and VAT no. 05403151003 Telephone: 06 44101 Website: www.trenitalia.com 2017 annual report 1 TRENITALIA S.p.A. COMPANY MISSION Trenitalia provides passenger transport services domestically and internationally. Trenitalia’s mission revolves around certain essential conditions, which consist in the safety of its services, the quality and the health of its workers and protecting the environment. Trenitalia believes that putting its relationship with customers first is the way to gain a long-term competitive advantage and create value for shareholders. Trenitalia’s entire organisation is committed to meeting customers’ needs and market demands. It always guarantees high safety standards and implements development and modernisation plans in accordance with economic, social and environmental sustainability standards. To achieve its mission, the company has created an organisational structure divided into divisions, and it has assigned each of these the monitoring of the relevant business according to the particular characteristics of the market in which the division operates. 2017 annual report 2 TRENITALIA S.p.A.
    [Show full text]