Análisis del sistema de control interno contable de la empresa

The amounts entered into the accounts in relation to the investments made in 2010 were equal to about Euro 797 million, whose breakdown, compared to the similar values of 2009, is reported in the following table:

Compared to 2009, it is highlighted that amounts entered in the accounts were lower as a result of the progressive completion of large orders that were started in previous periods and that, at the same time, orders started in 2009 and 2010, although of considerable size, have not yet produced significant effects in the accounts; this was also a result of the reformulation of policies regarding the paying out of the sums payable in the initial phase of the project as shown in the new contracts which, de facto, have reduced the initial outlay to be accounted for under work in progress. Below is the breakdown of investments for Division/Management:

(amounts in millions of euro) 2010 2009 Changes %

National and International Passenger

Transport Division 128 229 (101) -44% Regional Passenger Transport Division 192 231 (39) -17%

Cargo Division 10 32 (22) -69% Technical Management 130 173 (43) -25% IT Systems Management 10 9 0 5% Staff 12 11 1 4% Total 482 687 (205) -30% 2nd level Maintenance 315 340 (25) -7%

(amounts in millions of euro) 2010 2009 Changes %

Purchasing 195 322 (127) -39%

Revamping 78 103 (25) -24%

Rolling Stock 273 425 (152) -36%

On-board Technology 114 139 (25) -18%

Plants & Other 54 81 (27) -34%

Research & Development 0.6 0.9 (0) -36%

Information Technology 41 41 0 1%

TOTAL 482 687 (204) -30%

Investments in rolling stock

As the High-Speed lines became fully operational, journey times between the main Italian cities such as Milan, Turin, Florence and Naples were considerable reduced. This allowed the Company to diversify and improve the quality of the commercial offer through the various “Frecciarossa” and “Frecciargento” products provided with high safety, comfort and speed standards, and to provide additional services to customers such as the WI-FI connection that allows the web to be surfed on the High-Speed line Turin - Naples.

With the objective of continuing to improve the High Speed Offer and to better meet customer requirements during the year, the Company awarded the supply tender for the production of new “1000” series electrical trains, advanced and environmentally friendly trains that will be able to exceed 400 Km/hr and to travel on the network at 360 Km/hr.

On the current “ETR 500” trains, used for the Frecciarossa service, activities were completed for adaptation to the commercial high-speed service, activities continued relating to the implementation of on-board information services for customers and, as mentioned earlier, activities continued for on-board internet by means of broadcasting an internet connection signal over the airwaves in each coach through the installation of Wi-Fi hotspots.

As regards the Frecciargento service, the delivery of the new fleet was completed, made up of 12 ETR 600 tilting trains to allow high-speed travel even on winding routes; furthermore, activities were completed for the multi-voltage of the ETR 480 fleet, for the purpose of being able to use it on the new High Speed lines.

Activities continued for the restructuring of coaches and locomotives for the offering relating to the “Frecciabianca” trains that circulate on traditional lines and connect medium- and large- sized cities outside the High Speed network. The project for the renovation of the Frecciabianca trains was initially suspended as a result of a number of defects in the product delivered by the suppliers. Its re-launch was subject to the definitive elimination of the technical problems that limited its application with increasing standards of service. After the technical problems were resolved, the project was re-launched and it will allow the remaining coaches destined for the Freccia service to be finally upgraded.

Investments for the Regional Transport continued on the basis of the development programme based on the renewal of the fleet and on the basis of the commitments undertaken by the company at the time of the execution of the new service contracts with the Regional Governments. Deliveries are being completed in relation to the order for the purchase of 150 E 464 locomotives and a new order has been started for the purchase of additional 100 locomotives of the same series whose first deliveries started in October 2010. The objective is to achieve a fleet of more than 600 uniform locomotives that can be used to meet transport needs over medium and short distances. Furthermore, an order is being implemented in relation to the expansion of the fleet of double decker trains with the purchase of further 350 Double Decker coaches, whose deliveries are expected starting from 2011.

Investments in revamping concerned actions for the upgrading of TAF (Treno Alta

Frequentazione, High Intensity Trains) trains and the design relating to the restructuring of

about 1,300 Medium-Distance coaches. Furthermore, the renovation of 243 low-deck coaches is continuing, with the objective of improving the internal fixtures and installing air- conditioning systems.

In Cargo Transport, 15 “S11” tarpaulin-covered wagons were purchased during the year and 9 wagons were renovated and transformed from the “S13” to the “S12” type, continuing the process of adapting the fleet of wagons to the requirements of the market.

As regards technology on board, activities are being completed to equip trains with the SCMT system (Sistema Controllo Marcia Treno, Train Movement Control System) and to upgrade the STB system (Sistema Tecnologico di Bordo, On-Board Technology System) in order to complete the installation on rolling stock with the equipment CAB RADIO and DIS (Driver Information System) (Black Box). Activities continued for the certification and validation of the installations relating to the equipment of the SSC system – SSC BL3 (Sistema di Supporto alla

Condotta, Train Driving Support System) that will be completed in early 2011.

Below is reported the number of vehicles purchased and those that are the object of the main revamping actions:

no. of vehicles no. of vehicles Locomotives 60 4

National and International

Transport 0 4

Regional Transport 60 0

Cargo Transport 0 0

Coaches/Wagons 17 94

National and International Transport

• ES* City 0 12 • Night trains 0 15 Regional Transport • Low-deck 0 56 • Vivalto 2 0 • MD Medium Distance 0 1

• UIC-X with a driving van trailer 0 1

• Light Vehicles 0 0

Cargo Transport

• Wagons 15 9

Trains 1 17

National and International Transport

• ETR 600 - TILTING 1 0 • Brand AV - ETR 500 0 1 • ETR 480 AV Plt 0 1 Regional Transport • TAF Trains 0 15 • Minuetto Trains 1 0 revamping New rolling stock

The Trenitalia fleet

The Trenitalia fleet, following investments and disposals made in 2010, is made up as follows:

The material specified above includes vehicles written down following an Impairment Test.

Other investments

The progressive strategy of segmenting the business sectors served has entailed the necessary specialisation of the rolling stock, a measure that leads, necessarily, to a further progressive specialisation of the industrial systems with regard to the “product” to which the rolling stock refers. No less importantly, the process of optimising the maintenance network was also pursued through the plan for the expansion and technological upgrading of industrial systems. During the year, the measure to adapt the current configuration of the Turin plant to the new “full train” maintenance system was authorised. Other investments mainly concerned IMC

Category Description Unit

driving material Electric Locomotives 1,767

driving material Diesel Locomotives 280

Total driving material 2,047

light vehicles Electric vehicles (Ale, Le) 967

light vehicles Diesel (Aln, Ln) 677

Total light vehicles 1,644

complexes TAF 99

complexes Minuetto Trains 204

complexes Electric trains 114

of which ETR 500 AV 59

Total complexes 417

handling vehicles Locomotives/Diesel Power Cars 790

Total handling vehicles 790

driven material Passenger Coaches 7,476

driven material Wagons 30,331

driven material Wagons and car vehicles 125

driven material Other 60

Total driven material 37,992