Atlantia has no short-term debt maturities and therefore will not issue new bonds. “No new bonds are planned. We have no short-term refinancing needs”, said Atlantia's CEO Giovanni Castellucci today on the sidelines of the 34th edition of the CL Meeting under way in Rimini.
Castellucci specified that the autostrade group can finance its investments in Italy thanks to the proceeds of its foreign subsidiaries. “We invest 80% of our available resources in Italy, but since 2008, we have also grown abroad, where we manage about two thousand kilometers of roads - he said - This allows us to have cash flow that ensures interventions on our national network . It is not an escape, but a safety margin to continue investing”.
As far as traffic trends are concerned, Castellucci anticipated that, although the assessments for the summer period should be made at the end of the counter-exodus, a further improvement can be deduced from these last few weeks compared to the positive signals already seen at the end of spring. “The traffic data leave us quite confident. The situation is much better than a year ago”, concluded the CEO.
In 2012, traffic fell by 7,5% on the group's Italian network, while it grew by 4,8% on the foreign network. Motorway traffic in the first half of this year instead recorded a drop of 2,6% on the network under concession in Italy and an increase in foreign traffic of 5,8%.
After the words of the top manager, a Piazza Affari, the Atlantia stock continues to be affected by the general weakness. In the afternoon it lost 1,86% to 14,24 euros.
