The ordinary general meeting of shareholders of the Ticino Regional Railways SA (FART), meeting in Locarno recently, approved the 2025 financial statements, the Board of Directors' report, and the allocation of the operating result. The meeting also provided an opportunity to review the company's main development projects and to confirm Peter Füglistaler's appointment to the Board of Directors as a representative of the Confederation.
The meeting also confirmed the company's strategic direction, characterized by a broad investment program aimed at strengthening regional public transport, both rail and road.
An economic result close to break-even
The 2025 financial year ended with a loss of approximately 87 francs, a result that leaves the company's accounts essentially balanced. This figure takes on particular significance considering FART's decision to voluntarily waive a portion of its public benefits, amounting to a total of 585 francs.
The decision was motivated by the desire to help contain spending by the Confederation, Canton, and Municipalities, confirming a management oriented toward the responsible use of available resources.
A year of changes for the service
The network modernization process continued throughout 2025. All new Stadler trains entered service along the Centovallina line, introducing improvements in travel comfort, accessibility, passenger information, and service reliability.
At the same time, one of the most significant infrastructure projects for the company's future has progressed: the construction of the new bus workshop and depot in Riazzino. The project will also accompany the introduction of the first five electric buses for the FART fleet, following the signing of the relevant contract earlier this year.
The strategy looks to the future of mobility
In his speech to the meeting, the Chairman of the Board of Directors, Paolo Caroni, highlighted how FART is undergoing a phase of profound evolution.
The renewal not only concerns rolling stock and infrastructure, but also the company's very role in the regional mobility system. The investments undertaken aim to increase the quality of services, improve user accessibility, support the energy transition, and prepare the company for the needs of the region in the coming years.
Peter Füglistaler joins the Board of Directors
One of the key moments of the meeting was the appointment of Peter Füglistaler as the Confederation's representative on the Board of Directors of FART SA.
The candidacy, proposed by the Board of Directors and approved by both the Federal Department of the Environment, Transport, Energy and Communications and the Department of Land and Sea, aims to further strengthen the governing body's expertise during a period marked by significant investments and particularly complex infrastructure projects.
An economist with extensive experience in finance and controlling, Füglistaler has worked in the public transportation sector for over thirty years. After holding various management positions at the Swiss Federal Railways in corporate planning, finance, law, and infrastructure, he led the Federal Office of Transport for over fourteen years.
His professional career has allowed him to develop an in-depth knowledge of the Swiss public transport system, combined with skills in financial management and institutional relations between transport companies, the Confederation, the cantons, and contracting authorities.
Thanks to Marco Schmid
During the meeting, thanks were also expressed to Marco Schmid, who is leaving his post after having represented the Confederation on the Board of Directors since 2018, completing two four-year terms.
The Board of Directors emphasized the contributions made over the years, particularly Schmid's experience in the fields of railways, safety, risk management, quality, and public transport oversight. They also highlighted his role in ensuring a smooth transition to the Confederation's new representative.
Investments at the heart of growth
The outcome of the meeting thus confirms FART's commitment to pursuing a development path that combines financial stability and investment. The renewal of the rail fleet, the construction of new bus infrastructure, and the launch of the electrification of road transport are the key elements of a strategy designed to strengthen public transport services in the Locarno area and the areas served by the company in the coming years.
