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Italy’s Atlantia ups guidance as motorway traffic drives profit higher -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Atlantia logo is seen at its Rome headquarters on October 5, 2020. REUTERS/Guglielmo Mangiapane/File Photo

MILAN (Reuters – Atlantia, an Italian infrastructure company, has raised its guidance for 2021 after reporting a 27% rise in core profits over the past nine months. This excludes its domestic motorway businesses which it has sold.

According to the Benetton family, it expects 2021 revenues to be 6 billion euro ($6.9billion). This is an improvement on its previous forecast of 5.8 billion euros due to increased motorway traffic following Covid.

Atlantia stated that its earnings before interest and tax (EBITDA), was 2.9 billion euro in the first nine month, net of contributions from Autostrade per l’Italia. It is a domestic motorway network the company sold after a fatal bridge collapse.

Funds from operation (FFO) will now be expected to exceed 2.4 billion Euros, as opposed to a prior expectation of 2.1 million. According to it, the FFO includes Autostrade’s contribution. ($1 = 0.8734 euros)

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