Atlantia estimates revenues for 2021 at 9,4 billion and operating flows at 3 billion, but in 2020 the group controlled by the Benetton family suffered the strong impact of Covid-19 and left almost a third of revenues on the field.
“The 2020 results are affected by the impact of Covid-19 on the traffic volumes of the Group's concessionaires and implement the Autostrade per l'Italia agreement proposal, shared with the Government and now awaiting formal approval also by all Competent bodies, for 3,4 billion euros, of which 700 million euros additional compared to 2019 ".
Atlantic press release
Coming to the numbers, operating revenues are down by 29% and equal to 8,284 billion (-29%), Ebitda stands at 3,7 billion (-35%), "partially mitigated by the cost reduction initiatives undertaken by group companies". The year ended with a loss, attributable to the Atlantia group, of 1,177 billion against a profit of 136 million in 2019. The result, the group note points out, also takes into account "write-downs for 282 million euros mainly resulting from the impacts of the pandemic on traffic volumes”. The board of directors proposed to the shareholders' meeting not to distribute any dividends.
Investments amounted to 1,53 billion, "a decrease of 260 million (-14%) mainly due to the slowdowns in construction sites linked to Covid-19" while net financial debt increased by 2,51 billion to 39,238 billions, “mainly due to the effects of the acquisitions of various Abertis acquisitions”.
For 2021, Atlantia estimates revenues for the group in the order of 9,4 billion euros and a value of operating flows (FFO) of approximately 3 billion euros. In any case, the expected operating flows are expected to exceed the investments planned for 2021.
The approval of the financial statements takes place a few days after 16 March, the day on which the Board of Directors will meet again to evaluate the CDP-Fondi offer on Autostrade. In fact, the offer formulated by the consortium expires on March 16 and, according to Radiocor, the Atlantia board of directors will return to evaluate the situation and, if necessary, any improvement proposals from the buyers which could lead to an extension of the negotiations. The board, however, it should be specified, had decided to meet again on March 16 already in the last meeting of February 26, the day in which it had examined the offer of CDP-Fondi.
