Atlantia enters the capital of Eurotunnel with a check exceeding one billion euro. The group announced the agreement for the purchase of 100% of the investment vehicle Aero 1 Global and International, which holds 15,49% of the capital of Groupe Eurotunnel (Getlink), a share package offering 26,6% of voting rights of the company.
“The investment in Getlink represents an interesting financial opportunity for the group” comments the CEO of Atlantia, Giovanni Castellucci. To sell are some funds managed by Goldman Sachs Infrastructure Partners. The cost for Atlantia is 1.056 million euro, equal to 12,4 euro per Getlink share.
The group also announced that it closed 2017 with a net profit of 1.172 million euros, up 4% (+6% on a like-for-like basis) compared to 2016. According to the consolidated financial statements and the draft he 2017 financial year approved today by the board of directors, the gross operating margin (ebitda) is equal to 3.664 million, up by 8% (+6% on a like-for-like basis).
Traffic on the group's Italian motorway network increased by 2,2% (+2,8% excluding the leap year effect and including the mix effect deriving from the higher growth of heavy vehicles). Traffic on the foreign motorway network grew by 3,6%, passenger traffic at the Group's airports grew by 1% overall.
The board proposed to the shareholders' meeting, convened on 20 April, a dividend of 1,22 euro per share (+26% on 2016), with the distribution in May of a balance dividend of 0,65 euro.
As for the forecasts for 2018, "they suggest an improvement in the profitability of the group", reads the note from Atlantia. The trend of traffic on the motorway network in Italy is expected to grow as confirmed by the good performance of the first weeks of 2018 (+5,1% from the beginning of the year to 18 February).
In the airport sector, which shows a traffic growth trend, passenger growth in both commercial and general aviation can be confirmed for Nice Airport, while substantial stability in traffic volumes is foreseeable for Aeroporti di Roma, except for any discontinuity in the management of Alitalia. The 2018 operating results will include the positive evolution of Telepass and the Group's construction and engineering companies, as well as some expenses incurred by Atlantia for professional assistance, above all in relation to the voluntary takeover bid and/or exchange process on Abertis Infraestructuras .
In the event of a positive outcome of this offer, the Group's debt will include the loans secured to cover the transaction and the Abertis Infraestructuras group will be included in the Atlantia Group's scope of consolidation.
