Rai Way, a publicly owned company headquartered in Italy, is a subsidiary of Radiotelevisione Italiana (RAI). Founded in 2000, the company employs approximately 610 individuals and reported $319.7M in revenue as of 2025. Functioning as a tier 2 media tech buyer, Rai Way specializes in connectivity and distribution services, operating the Rai terrestrial television infrastructure in Italy.
On August 3, 2026, Rai Way reported a 2.5% increase in Q2 core revenues, driven by both business segments and exceeding CPI contribution, while underlying adjusted EBITDA grew by EUR2.5 million, reflecting strong cost control and operational leverage. The company raised its full-year adjusted EBITDA guidance to be a couple of million euros above 2025 levels, supported by lower noncore headwinds and better cost management. Earlier on the same day, Rai Way announced Q2 2026 sales of €72 million, an increase from €70.3 million a year earlier, though net income declined to €22.5 million from €24.7 million. This followed the company's July 30 announcement of higher first-half revenue, better underlying profit, and stronger cash generation for H1 2026, concurrently lifting its full-year outlook. For the first half, core revenue rose 2.5% to EUR 144 million, adjusted EBITDA reached EUR 96.8 million, and recurring free cash flow increased to EUR 68 million from EUR 63 million a year prior. Management attributed these results to operating leverage in its traditional business, where costs remained broadly stable despite inflation and higher labor expenses tied to a collective labor agreement, consistent with a mature infrastructure company benefiting from predictable cash flow and long-term contracts with Rai.
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