(Finance) – The maintenance and investment plan continues Motorways for Italy for the modernization and strengthening of the country’s busiest junctions, with spending of 1.3 billion euros in the first nine months of 2023.
For the entire year the objective of 1.7 billion euros is confirmedin continuity with what was spent in 2022.
This is highlighted by the financial information for the first nine months of the year approved by the board of directors. As of September 30th i operating revenues are equal to 3,309 million euros (+5% compared to the first nine months of 2022), maintenance costs of 312 million euros (+18%), theEbitda stands at 2,021 million euros (+7%), 1,364 million euros of operating cash flow while the Net income of the group is equal to 807 million euros, down by 120 million euros compared to the first nine months of 2022 (on a like-for-like basis it is substantially in line with the comparison period).
Since the beginning of 2023, approximately 700 people have been hired as part of the organizational strengthening plan to support the implementation of the investments. The program of technological innovation and sustainability continues, key elements of the transformation plan for an increasingly safe and modern network. The plan for the creation by Free To X of 100 high-power charging stations in as many service areas was then completed.
Outlook
“In the year 2023, the implementation of the Group’s transformation plan continues towards an integrated and technologically advanced model of mobility management with sustainability, safety and innovation at its centre. In addition to the full implementation of the actions initiated, many are the objectives we are achieving to serve travelers and all stakeholders in the territories crossed by the network.
We expect a further boost in investments and maintenance for the modernization and strengthening of the Autostrade per l’Italia network with 1.7 billion euros in the year with the objective of regenerating and strengthening the infrastructure system under managementincreasing the useful life of the works as well as strengthening their resilience even in the face of adverse climatic events.
In light of the traffic performance recorded at the end of October 2023, albeit in an uncertain macroeconomic context, also in consideration of the continuation of the ongoing geopolitical crisis, it is estimated that traffic on the Autostrade per l’Italia network could be higher than pre-pandemic levels by 2023 of 2019″.