MILAN. Atlantia closed the first quarter with a loss of 10 million euro, compared to the profit recorded in the first quarter of 2019 of 157 million euro. Operating cash flow amounted to 790 million euros, down 236 million euros or 23% (-21% on a consistent basis) while operating investments totaled 361 million euros, up 26 million euros or 8%. Operating revenues amounted to 2.210 billion euros, down 381 million euros or 15% (-10% on a homogeneous basis) with a Gross Operating Margin (EBITDA) of 1.271 billion euros, down 290 million euros or 19% (-16% on a homogeneous basis).
In the note released by the company, however, it is noted that “the situation of uncertainty continues unfortunately to continue, despite having authoritative representatives of the executive publicly manifested, since last February, their willingness to evaluate the proposals of Autostrade per l’Italia, and the conclusion of the dossier analysis was also declared at the end of April “.
The Board of Directors of Atlantia, while continuing to trust in a rapid and positive solution to the Autostrade per l’Italia affair, could only resolve to indicate its subsidiary Autostrade per l’Italia – without prejudice to its right to avail itself of of all the conventional instruments for their own protection within the times and in the manner envisaged – to use the 900 million euro loan from Atlantia to guarantee maintenance and investments for network security, in compliance with all existing obligations, thereby sending the realization of other investments once the necessary financial allocations have been found and to mandate its lawyers to evaluate all the initiatives necessary for the protection of the company and the Group, given the serious damage.
“While continuing to trust in a rapid and positive solution to the Autostrade per l’Italia affair, based on developments in the interlocutions with the MIT, the MEF and the Prime Minister’s Office and the regulatory and / or regulatory framework, also had Regarding the possible outcome of the appeals promoted which concern the rules contained in the Milleproroghe Decree – reads the note – Autostrade per l’Italia will still have the right to make use of all the conventional protection tools, as confirmed by the opinions given by its consultants ».