Privatizations work in progress. The Ministry of the Economy is looking for money to divert towards the reduction of the public debt in view of the presentation of the Def, scheduled for Friday. Given the postponement of the quotation of state Railways, we are aiming straight for Enav: the quotation of 49% of the capital of the Italian company that manages national air control is preparing to take off. Roberta Neri, its managing director, confirmed the launch of the public sale offer for mid-June and the filing of the information dossier with Consob, starting next week.
The listing procedure could not have taken place at a more favorable moment: 2015 was a record year for Enav, which recorded 66,1 million euro of consolidated net profit (+65,2%), a result made possible also by the 10% reduction in costs, obtained from the revision of external management and maintenance contracts. This performance could yield the State an extraordinary dividend of 400 million euros.
Again from this point of view, the Treasury is hunting for new operations to be able to carry out by the end of 2016: the option of a further reduction in the capital of Poste Italianebut is currently frozen. Checks are also underway on the feasibility, within the year, of the passage of Anas under the banner of Ferrovie dello Stato: however, in this case it would not be a question of a straight collection that could be directed towards cutting the public debt, because the transfer of the road company to the railway company would be free of charge, but the State would advantages in terms of cost reductions.
