Atlantia
| Atlantia SpA
|
|
|---|---|
 |
|
| legal form | Società per azioni |
| ISIN | IT0003506190 |
| founding | 1950 |
| Seat |
Rome , Italy
|
| management |
|
| Number of employees | 30,633 |
| sales | EUR 11.63 billion |
| Branch | Infrastructure |
| Website | www.atlantia.it |
| As of December 31, 2019 | |
The Atlantia SpA (formerly Autostrade SpA ) is a listed Italian infrastructure operators , based in Rome . The subsidiary Autostrade operates around 3,300 kilometers of Italian motorways with 262 toll stations . This corresponds to around 56 percent of the toll Italian motorway network . Every year 750 million vehicles cover 45 billion kilometers on the toll routes. Atlantia also operates roads outside Italy (in Argentina, Brazil, Chile, France, India, Spain, Poland and Puerto Rico) and airports directly (in France, including Nice) and through its subsidiary Aeroporti di Roma ( Fiumicino and Ciampino airports in Rome ).
Company history
The company was founded under the name Società Concessioni e Costruzioni Autostrade pA in 1950 by the state holding Istituto per la Ricostruzione Industriale (IRI) to build the A1 Autostrade del Sole , which was completed in 1964. The company acquired further concessions in the 1960s and now holds a large part of the current motorway network in Italy. In 1987 the company went public in Milan and it was gradually internationalized with participation in international road construction projects and participation in privatizations. In 1999 the company was completely privatized; the Benetton Group is its most important shareholder. In 2003 the Italian concession business was spun off into a new subsidiary, Autostrade per l'Italia . In May 2007 the board decided to rename the holding, Autostrade, to Atlantia.
On March 8, 2013, Atlantia announced the takeover of the investment company Gemina by means of a share swap with a value of 2 billion euros to take place until May 2013. Gemina is active in Latin America, among others, and is the owner of the Aeroporti di Roma company , which operates the Fiumicino and Ciampino airports in Rome . At that time, Atlantia was already operating around 1,800 kilometers of toll highways in Brazil and Chile, among other things, and was hoping for further concessions in Latin America by taking over.
In 2006 Atlantia (at that time still under the name Autostrade) planned a merger with the Spanish competitor and motorway operator Abertis ; However, this did not come about at the time because of political opposition in Italy and was abandoned. In 2017, Atlantia launched another offer for Abertis; the takeover plans were thwarted by a counter offer from the Spanish construction company ACS and its German subsidiary Hochtief . In March 2018, the joint takeover by a consortium consisting of Atlantia, the Spanish construction group ACS and Hochtief was agreed in order to avoid bidding competition. After the takeover, Atlantia should hold 50% plus one share in Abertis, 20% should be acquired by Hochtief, the remaining almost 30% by ACS; at the same time, Atlantia is to acquire a 25% stake in Hochtief.
Also in March 2018, Atlantia acquired 15.49% of the shares in Getlink , which operates the Eurotunnel under the English Channel, for one billion euros.
On August 14, 2018, a section of the Polcevera Viaduct collapsed in Genoa , killing 43 people. Matteo Salvini , then Minister of the Interior of Italy ( Cabinet Conte I ), publicly asked what percentage of its income Autostrade invested in the maintenance or repair of its road network. Atlantia's share price fell 22 percent the day after the bridge collapsed and was temporarily suspended from stock market trading after politicians advocated or called for a license withdrawal due to lack of maintenance. Shortly after the accident, Atlantia declared that all maintenance had been carried out in accordance with the contract; It announced that it would build relief roads, carry out further aid measures worth EUR 500 million and erect a new steel bridge within eight months as soon as the necessary permits were available. Shortly thereafter, Interior Minister Salvini announced that Autostrade wanted to withdraw the concession for its entire Italian network.
In November 2019 it was announced that Atlantia had known since 2014 that the bridge was in danger of collapsing.
Key figures
Atlantia had just under € 7 billion in revenue in 2017; 70% of this came from tolls. Atlantia has increased its earnings and profitability over the past few years and increased its distributions to shareholders. The Italian tolls are considered to be the highest in Europe.
Ownership structure
Shareholders
(As of March 2020)
| proportion of | Shareholders |
|---|---|
| 30.25% | Sintonia |
| 8.29% | Government of Singapore Investment Corporation |
| 5.05% | Lazard Asset Management |
| 5.01% | HSBC Holdings |
| 4.85% | Fondazione Cassa di Risparmio di Torino |
| 0.94% | Own share |
| 45.61% | Free float |
The company is controlled by the Luxembourg holding company Sintonia , which is run by the Benetton family .
Awarding orders
When it comes to awarding contracts for the construction and maintenance of the roads they manage, operators in Italy can award a large part of the contract to their own subsidiaries without a public tender . Atlantia has a subsidiary called Pavimental. The EU Commission and the then Italian government Gentiloni agreed on a compromise in April 2018.
Web links
- Atlantia website (Italian, English)
Individual evidence
- ↑ Management , atlantia.it, accessed on July 2, 2020 (English)
- ↑ a b Atlantia: Annual Report 2019 , accessed on July 2, 2020 (English, pdf)
- ↑ a b c Atlantia: Milestones , historical overview on company website, accessed on August 19, 2018 (English)
- ^ Press release from Atlantia on March 8, 2013. Accessed March 9, 2013 (Italian)
- ↑ The Benetton family buys Rome's airport. In: Spiegel Online , March 9, 2013
- ^ Hochtief, ACS and Atlantia agree - no bidding race for Abertis. In: handelsblatt.com. March 14, 2018, accessed August 14, 2018 .
- ↑ Atlantia entra nel tunnel della Manica: 1 miliardo per il 15.5% di Getlink. March 2, 2018, accessed November 21, 2019 (Italian).
- ↑ 35 vittime tra cui tre bambini di 8, 12 e 13 anni, ma si scava ancora. In: repubblica.it
- ↑ Bloomberg: Italy to Revoke Autostrade Concession Despite Company Aid Offer , August 19, 2018, accessed on the same day.
- ^ Matthias Rüb: Collapse of the Ponte Morandi: Company knew of the danger at Genoa Bridge . ISSN 0174-4909 ( faz.net [accessed November 21, 2019]).
- ↑ a b c How the business model of the “masters of the motorways” works - and why the bridge collapse is now threatening it. In: NZZ.ch , August 15, 2018
- ↑ Shareholder structure: - current status. In: atlantia.it. Retrieved August 17, 2018 .
- ^ State aid: Commission approves investment plan for Italian motorways. In: europa.eu , May 27, 2018