Tper SpA (Emilia-Romagna Passenger Transport), the main local public transport company in Emilia-Romagna, closed the budget 2022 with a Net income of 1,7 million euros (down compared to 2021) on a turnover of 219 million euros. L'Ebitda stands at 27,4 million. This result was achieved thanks to the company's stability, prudent management and the skills developed to implement short- and long-term programs. Furthermore, it was important the contribution of refreshments provided to partially compensate for the difficulties deriving from the pandemic (equal to 14 million euros for lost revenues due to Covid) and the increase in energy costs (1,8 million euros due to the increase in fuel).
Il consolidated financial statements at Group level it was positive with a profit of 1,6 million euro, although down on previous years due to the difficulties of the macroeconomic context.
The Shareholders' Meeting unanimously approved the budget proposal presented by the Board of Directors, with theprofit allocated to reserves. This makes it possible not only to strengthen the solidity of the company, but also to continue with the investment plan, both tangible and intangible, which proved to be in line with forecasts in 2022. For example, 66 new vehicles were registered each year last year and, in the first six months of 2023, 43 new buses have already entered service. Furthermore, the EMV system has been installed on the entire urban fleet to allow contactless payments with bank cards.
Passengers are increasing but numbers still far from 2019
Back to grow the number of passengers (126 million those transported), an increase of 19 million compared to 2021 but with numbers still far away from those of 2019 (-17%). Recovery expectations are influenced by the uncertainty about the reorganization of post-pandemic work activities and by incentive policies for public transport. The kilometers traveled during the year were a total of 45 million.
I extraordinary public refreshments received in 2022 partially offset the increase in operating costs, such as the 12 million euro increase for fuel, and the negative effects of the weak demand for public transport, with a reduction in fare revenues of over 12 million compared to 2019.
Beware of staff
During 2022, the Group has lent great focus on employment and personnel management. Tper complied with the recruitment plan, with the entry of 206 new resources, bringing the total number of employees to 2.345, of which 96% with permanent contracts. This highlights the focus on stabilizing skills through continuing education, with over 60.000 hours of training provided to employees throughout the year.
The investment plan continues
Tper has confirmed its commitments for the investments ongoing, exceeding 230 million euros, within the overall plan 2023-2026 of 430 million euros. The plan includes the renewal of 49% of the bus fleet existing, with the purchase of 583 new vehicles. The goal is to improve the quality of transport services and reduce the environmental impact in the area. Investments focus ontechnological innovation of transport systems, including the use of liquid methane, biomethane, electric and hydrogen vehicles. Tper is also engaged in digitization, started in collaboration with institutions and anticipating national trends in the sector. The service of “Mobility as a Service” (MaaS), activated on the "Roger" platform since 2018, has achieved considerable success, with over 300.000 registered users who can access information services, booking and payment of intermodal public transport services on a regional scale.
Green investments
In Tper's 2022 budget there is also aspecific attention to ESG issues (Environmental, Social, Governance) and the objectives of Sustainable Development (SDGs). The company aims to grow as an industrial group of sustainable mobility, generating positive performance and a good reputation, and mitigating risks, crucial elements in assessing creditworthiness. In the first six months of 2023, Tper completed a financing operation divided into three separate lines, for a total of 93 million euro, intended for investments in innovative projects. These funds will also be used in collaboration with the funds available for sustainable mobility and the resources of the Pnrr, in collaboration with the institutions.
Gualtieri, Tper: 2022 a difficult year but we continue to invest in technologies and people
“Il 2022 has been another difficult year, with a war in Europe which, in addition to the dramatic humanitarian consequences, has generated significant implications for the energy supply chain and for the supply of goods and services. The persistence of the pandemic emergency in the first part of the year, and the economic uncertainty, contributed to the volatility of prices which, in turn, led to an increase in inflation and interest rates. A highly critical scenario for public transport companies, grappling with an increase in costs not compensated by a still suffering demand. Tper, thanks to the solidity built over time, the refreshments received and the diversification of activities as an industrial group of sustainable mobility, it is managed to address these critical issues positively closing the accounts for the tenth consecutive year, even in a context where the pure management of road transport services would not have allowed for the necessary economic balance" he declared Josephine Gualtieri, President and Chief Executive Officer of Tper SpA.
President Gualtieri is satisfied with the results of the budget, but is aware of the challenges and uncertainties that the sector faces "We continue to invest in technologies and people, but 2023 remains full of uncertainties and critical issues to be addressed".
