(Finance) – Motorways for Italy closes the 2023 financial year with a solid economic and financial performance. The pre-tax result from continuing operations, down by 242 million compared to 2022, is positive for 1,256 million euros (1,498 million euros in 2022). The Group net result stands at 878 million euros and on a like-for-like basis is equal to 956 million eurossubstantially in line with the previous year.
THE operating revenues are equal to 4,328 million euros (+4% compared to 2022). THE Toll revenue” are equal to 3,838 million euros, an increase of 129 million euros compared to 2022 mainly in relation to the increase in traffic, equal to 3.6% (i.e. +3.1% also considering the effect deriving from the negative mix ), and to the toll increase recognized to Autostrade per l’Italia of 1.59%.
THE Net operating costs amount to 1,927 million euros, an increase of 211 million euros compared to 2022 (1,716 million euros). In greater detail, maintenance costs, equal to 469 million euros, increased by 73 million euros compared to 2022 (+18%). EBITDA it leads to 2,401 million euros (-2%).
Net financial debt as at 31 December 2023 equal to 9,280 million euros. The Operating Cash Flow (FFO) generated in the year was 1,720 million euros which, together with the liquidity reserves of 4.6 billion euros, supports the planned investment commitments.
The total amount of operational investments of 2023 is equal to 1,630 million euros as part of the plans to increase the useful life and resilience of infrastructure and to strengthen the critical nodes of the network by streamlining traffic and contributing to the process of decarbonisation and energy transition.
During the year the maintenance and investment plan for an increasingly safe, green and resilient motorway network with a total expenditure 2.1 billion euros in 2023. For 2024 the objective is approximately 2.3 billion euros. Activities relating to modernization interventions of primary importance for the country have begun, including the subport tunnel in Genoathe first underwater tunnel in Italy.
The target of 2,900 hires was achieved expected in Transformation Plan 2021-2024 (1,100 resources in 2023 alone)
The transformation program continued with a view to digitalization and sustainability, key elements for an increasingly modern and secure network