Thursday, March 28

Atlantia sees core profit reaching 5.1 bln euros in 2024


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MILAN — Italy’s Atlantia sees core profit reaching 5.1 billion euros ($5.6 billion) by 2024, matching the figure it plans to invest over the same period, the infrastructure group said on Friday as it unveiled new multi-year targets.

The conglomerate controlled by the powerful Benetton family expects revenues to rise to 7.7 billion euros by 2024.

By June it will complete the sale of its Italian motorway unit, putting behind it a dispute triggered by the deadly collapse of a bridge run by the subsidiary back in 2018.

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The transaction will bring in its coffers more than 8 billion euros for investments and acquisitions, which it has already started to use.

Atlantia in January agreed to buy smart mobility company Yunex Traffic for 950 million euros.

“Implementation of the growth strategy will continue during the year, with investment in core sectors – motorways, airports, mobility digital payments – and in new adjacent areas offering synergies: intelligent transport systems, electrification/renewables, rail and mobility hubs,” the group said. ($1 = 0.9088 euros) (Reporting by Francesca Landini; editing by Valentina Za)



financialpost.com