financials menu

Annual Report 2022

Infrastructure & Mobility

2022 was a positive year for infrastructure and mobility. The NextGenerationEU program has had a strong influence on our market, especially in Italy, where we have been involved in many tenders and projects with public authorities. 

In 2022, we worked in 50 countries on more than 370 contracts. 

Rail, metro and public transport, in general, have shown robust positive trends, along with green mobility, using either electrification or hydrogen as an alternative fuel. These are areas where we have strong competencies and a good competitive advantage.  

Following our work on the Morandi Bridge in Genoa in 2020, RINA has gained a growing reputation as a leader in PMC services for large infrastructure projects. 

During 2022, we developed digital tools for managing asset integrity for roads and highways. Our Bridge Maintenance System (BMS) is applicable to any asset relating to road infrastructure, including viaducts, tunnels, barriers, etc. We will understand the full potential of this powerful tool and the opportunities it will create in 2023.

In 2022, we worked in 50 countries on more than 370 contracts. 

Rail, metro and public transport, in general, have shown robust positive trends, along with green mobility, using either electrification or hydrogen as an alternative fuel. These are areas where we have strong competencies and a good competitive advantage.  

Following our work on the Morandi Bridge in Genoa in 2020, RINA has gained a growing reputation as a leader in PMC services for large infrastructure projects. 

During 2022, we developed digital tools for managing asset integrity for roads and highways. Our Bridge Maintenance System (BMS) is applicable to any asset relating to road infrastructure, including viaducts, tunnels, barriers, etc. We will understand the full potential of this powerful tool and the opportunities it will create in 2023. 

Decarbonisation & Sustainability

From an infrastructure perspective, we are involved in cold ironing projects with the electrification of ports to abate the emissions of cruise liners. We are also working to certify buildings according to LEED and BREEAM protocols as the requirements for infrastructure to be certified continue to grow. 

In 2022 we further developed a new service on Nature-Based Solutions (NBS) design, consulting and testing, which offers a way to replace traditional solutions with natural ones that can produce better LCC performance. OPERANDUM, a research & innovation project that implemented a solution to reduce the risks due to coastal erosion and environmental degradation processes, has proved the technical feasibility and cost-effectiveness of NBSs.   

Our Critical Infrastructure Resilience to Climate Change, launched in Q2 2022, integrates the competence of RINA in Climate Change studies and assessments to provide a comprehensive, yet infrastructure specific, scoring system to determine the resilience of the level of service provided by a single or a network of infrastructural systems to climate change events. The service addresses the clear and urgent need to understand the impact and cost of “no-actions” for organisations managing/coordinating a portfolio of infrastructural assets. 

Green mobility is an advancing market, and RINA is well-placed with innovative services and the competencies needed to support regions as they invest in the energy transition. In 2022, we acquired a contract to support the first rail conversion to hydrogen in Italy, providing us with a good reference for our competency in this area in other regions. 

Highlights of 2022

The highlights of 2022 have included the iconic Genoa Breakwater project. This “once in a lifetime” project constitutes a very deep breakwater, 50m below water level, which will enable the enlargement of the Port of Genoa, the biggest commercial port in the Mediterranean. 

Other important projects included the award for technical advisory and project management services for the development of a new tourist port in Fiumicino, near Rome. The cruise company is a worldwide market leader, which presents a good opportunity for the future. 

From a mobility perspective, the Egyptian highspeed train line, which covers almost 1,000km, stretching from the Mediterranean to the Red Sea, is a big investment promoted by the Ministry for Transport. RINA has secured two contracts as part of a JV for design and consultancy services, but this is just the beginning of the story, as we expect investment to continue for the next 6-10 years. 

A feasibility study for the extension of the Bahrain metro further gives us a key reference in a new country, and the success of the project makes us optimistic for the future. 

Looking to 2023: Infrastructure & Mobility are on the Move

We live in a world that is changing rapidly, and investments may change depending on regional political tensions. However, our focus on different geographical regions gives our business resilience, and although investment may slow in some areas, it will increase in others. Ultimately, mobility and infrastructure are at the heart of all economies. We are here to ensure they are safe, comfortable, sustainable, and reliable. 

Our PMC activities will continue to lead our engineering service offerings, and we expect increasing involvement with public authorities as they put NextGenerationEU projects into action. We also expect a significant increase in requests for Asset Integrity Monitoring services going forward as new guidelines emerge. 

The acquisition of strategic contracts in Africa and the many tenders we have issued across Europe, Africa and the Middle East puts us in a strong position for 2023. We are further looking to expand our presence in the USA, which needs to shift the focus of technology in transportation. RINA has the competencies and experience that can help it achieve its goals. 

With strong trends in the need for increasing safety, decarbonisation, green mobility, and regeneration, we are very optimistic about the opportunities 2023 will bring.