4,100 km of toll motorways in Italy,

Transcription

1 Group Profile

2 4,100 km of toll motorways in Italy, Brazil, Chile, India and Poland Over 5 million customers a day Turnover of 3.8bn,EBITDA of 2.3bn and 1.5bn capital expenditure per year Market capitalisation of 9.2bn Europe s largest investor, with over 23bn currently being invested World s no.1 operator in free-flow toll collection Leader in motorway design and widening, safety and energy saving technologies Member of the Dow Jones Sustainability World Index

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4 PROVIDING MOBILITY, SAFETY AND DEVELOPMENT Excellence in each of the key areas of our industry makes Atlantia unique in its sector and the world s number one operator of motorway infrastructure. We leverage the close integration between our expertise and all the Group s core activities: from design through to construction, and from operation to toll collection. Our aim is to use innovation and technology to provide safer and more sustainable mobility. Giovanni Castellucci, CEO 2

5 A UNIQUE GROUP DUE TO INTEGRATED EXPERTISE safety and comfort assistance maintenance network upgrade OPERATION TECHNOLOGY Financing ENGINEERING AND WORKS free-flow toll collection traffic monitoring and control traffic information design project management construction surfacing 3

6 60 YEARS OF GROUNDBREAKING ACHIEVEMENTS The Italian Government established Società Autostrade- Concessioni e Costruzioni Autostrade SpA in Autostrade is privatised in 1999 and the State ownership is replaced by a core group of private shareholders. Autostrade per l'italia SpA, a wholly owned subsidiary of Autostrade SpA, is incorporated in 2003, following the demerger of the motorway concession business. Autostrade SpA becomes Atlantia SpA in Autostrade privatisation, the world s largest in the motorway sector 1956 Autostrade enters into agreement with ANAS to co-finance, build and operate the Autostrada del Sole between Milan and Naples 1990 Telepass, the world s first free-flow toll collection system, enters service 1963 First Eurobond issue in the history of the capital markets 1958/64 Construction and opening of the 800 km Autostrade del Sole motorway 1995 Construction of the Dulles Greenway, the first ever privately-owned toll motorway in the USA /25 First ever toll motorway between Milan and Varese opens, and is later transferred to the Group in 1962

7 2004 World s first free-flow toll collection system enters service on over 2,000 km of motorway network in Austria 2006 Acquisition of the 61 km Katowice-Krakow motorway in Poland 2005 Acquisition of Costanera Norte (Chile), the operator of 43 km of motorway in Santiago 2011 Autostrade per l Italia was chosen to implement and operate a satellite-based toll system for heavy vehicles on France s 15,000 km national road network 2009 Acquisition of interests in motorway operators responsible for 700 km of network in Chile and Brazil Award of the concession, in partnership with the Tata group, to operate the 110 km motorway linking Pune and Solapur in India 2003 Opening of the M6 Toll, the UK s first ever toll motorway 5

8 GLOBAL FOOTPRINT Leading the way in countries with greatest development potential ITALY Km Concession Revenues expiry 2010 ( m) Autostrade per l Italia (100.0%) 2, ,146 Autostrada Torino-Savona (99.98%) Autostrade Meridionali (58.98%) Società Autostrada Tirrenica (1) (94.0%) Raccordo Autostradale Valle d Aosta (58.0%) Tangenziale di Napoli (100.0%) Società Italiana per il Traforo del Monte Bianco (51.0%) ,132km POLAND Km Concession Revenues expiry 2010 ( m) Stalexport (56.2%) km BRAZIL Km Concession Revenues expiry 2010 ( m) Triangulo do Sol (70.0%) km CHILE Km Concession Revenues (2) expiry 2010 ( m) Los Lagos (100.0%) Autostrade Sud America (45.8%) - Acceso Vial Aeropuerto (100.0%) Costanera Norte (100.0%) Nororiente (100.0%) Litoral Central (100.0%) Vespucio Sur (100.0%) km INDIA Km Concession Status expiry 2010 Pune-Solapur Expressway (50.0%) under construction 110km (1) In May 2011 Autostrade per l Italia has reached agreement for the sale of a stake of 69.1% in Società Autostrada Tirrenica (SAT). Transfer of the shares is subject to clearance from ANAS and the Antitrust Authority, and completion of the procedure required by SAT s Articles of Association relating to the pre-emption rights assigned to the existing minority shareholders. (2) Includes toll revenue accounted for as a financial asset, in accordance with IFRS, including IFRIC 12. 6

9 Europe South America Asia 7

10 MAJOR PRESENCE IN THE CAPITAL MARKETS International institutional investors and solid financial position Shareholders and Group structure Other main shareholders (*) Fondazione CRT Norges Bank 6.76% 2.27% 43.21% (*) 100% Free float (**) 45.75% Rest of Europe 21% Rest of the world 11% France 16% USA 15% UK 28% Italy 8% Italian motorway operations 7 operators International operations Brazil - 1 operator Chile - 6 operators India - 1 operator Poland - 1 operator Other activities Telepass (100%) Tolling systems Autostrade Tech (100%) Technology Spea Ingegneria Europea (100%) Design Pavimental (72%) Construction Infoblu (75%) Traffic information (*) Source: Consob (June 2011). (**) Excludes treasury shares. Source: Thomson Reuters (March 2011). 8

11 Financial highlights ( m) 2010 (a) 2009 (a,b) Total revenue 3,750 3,488 EBITDA 2,285 2,139 EBITDA margin 60.9% 61.3% EBIT 1,767 1,667 EBIT margin 47.1% 47.8% Profit for the year attributable to owners of the parent Operating cash flow 1,428 1,300 Capital expenditure 1,525 1,275 Net debt 9,657 9,755 Average workforce (no.) (c) 9,686 9,528 Market capitalisation at 31 December 9,167 10,434 Atlantia as % of FTSE Italia All Share index (d) 2.29% 2.26% Atlantia as % of FTSE/Mib index (d) 1.69% 2.68% (a) In accordance with IFRS 5, the contribution to profit for the year from Strada dei Parchi, a company in the process of being sold, has been included in Profit/(Loss) from discontinued operations. (b) Compared with previously published amounts, consolidated amounts at and for the year ended 31 December 2009 have been restated to take account of the impact of adoption of IFRIC 12 in (c) Excludes Strada dei Parchi. (d) Based on year-end price. Gross debt and sources of funding ( m, at 31 December 2010) Bond issues Bank loans EIB Cassa Depositi e Prestiti Private placements Loan from ANAS Bank deposits Gross debt 12.3bn Available financial resources 6.1bn Committed lines of credit 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 9

12 ENGINEERING AND WORKS Designing the mobility of the future The most important motorway investment programme currently being implemented anywhere in the world: planned investments of over 23bn, 6bn of which already completed; almost 1,100 km of network to be upgraded on sections used by 45% of traffic. As a result of synergies among Group companies, Atlantia is able to offer integrated solutions for the motorway sector, ranging from design to construction and maintenance. Spea is Italy s number one transport infrastructure engineering company. The Group company, Pavimental, is Italy s leading motorway and airport construction and maintenance company. The Group also holds interests in Impregilo, the largest general contractor in Italy. 10

13 A1 Nazzano tunnel: widening completed in May 2007 without disruption to traffic, due to worldwide patented method of widening tunnels without interrupting traffic flow Doubling of Bologna-Florence section on A1 Milan-Naples (Variante di Valico): the Group uses the world s largest ever shield tunnelling machine A1 Modena-Bologna: widening to 4 lanes completed in March 2006 Final breakthrough in the Base Tunnel (an 8.6 km section including a total of 20 km of tunnels), a key part of the doubling of the Bologna-Florence section 11

14 OPERATIONS Traffic flow, safety and services 24 hours a day, 365 days a year: a constant commitment. Management of the network, technology, communication and innovative services to achieve industry-leading operating standards. Construction of additional lanes and new toll stations to improve traffic flow, accessibility and safety on the motorway network. Death rate on Autostrade per l Italia s network from 1999 to today: -71% (number of deaths per 100m km travelled) Total delay: -45% in motorway delays (delay in millions of hours) Death rate on Italian ordinary road network Death rate on network operated in Italy by Autostrade per l Italia and its subsidiaries Total delay (Autostrade per l Italia s network in Italy) 12

15 250 km of third and fourth lanes added to the Italian network since 1999 More than 7,000 staff, 2,666 video cameras and 1,500 sensors providing assistance on the Italian network 246 service areas offering greater comfort to customers 1,310 panels providing traffic information 13

16 TECHNOLOGY Research and development of technological solutions for advanced mobility Telepass Introduced by the Group in 1990, Telepass has 7.5 million users and is the most widely used automated payment system across Europe. Tutor Developed by the Group, Tutor is the world s first automated system for monitoring the average speed of vehicles using a motorway and levying speeding fines. Surfacing and noise-absorbent barriers As part of its R&D activities, the Group has developed highly resistant, high traction draining pavements, in addition to noise-absorbent barriers that offer the most efficient forms of safety and protection from noise pollution along the network. Tolling In 2004 the Group installed the world s first free-flow tolling system for heavy vehicles using the Austrian motorway network. In 2011 the consortium led by Autostrade per l Italia was chosen to implement and operate a satellite-based tolling system for heavy vehicles on France s 15,000 km national road network. 14

17 Europpass (Austria): the world s first free-flow toll collection system for heavy vehicles using over 2,000 km of motorway network A leading provider of traffic information services: the Group has developed a technology platform capable of supplying real-time, multi-channel information services Autostrade per l Italia s entire network is surfaced with draining pavement developed and laid by the Group Telepass accounts for 50% of all onboard units in use in Europe and for 56% of payment transactions on the Italian network 12 months on from its installation on 2,600 km of network, Tutor has led to a 51% reduction in fatalities on the sections covered by the system 15

18 CORPORATE SOCIAL RESPONSIBILITY Combining infrastructure development with sustainability To Atlantia, Corporate Social Responsibility means projects that have a positive impact on the Group s performance and on the community as a whole. Our commitment to sustainable development focuses on four areas: improved traffic flow to reduce congestion and pollution innovative technologies for recycling construction materials the generation of renewable energy energy saving Since 2009, Atlantia has been included in the Dow Jones Sustainability World Index, which ranks the 2,500 best international companies in the Dow Jones Global indexes in terms of their corporate social responsibility. Atlantia is one of the best performers in the transport and infrastructure sector. 16

19 Green space covers 29% of the total land occupied by Autostrade per l Italia s motorway network Use of Telepass and Tutor saved 92,000 tonnes of CO2 in ,000 km of noise-absorbent barriers to be installed along the Group s network A total of 10 MWp to be generated by solar power plants by % reduction in energy consumption for tunnel lighting, due the introduction of LED technology 17

20 THE GROUP S ITALIAN NETWORK AND MAP OF MAJOR WORKS Mont Blanc Turin Aosta Milan Venice Udine Bologna Genoa Florence Livorno Ancona Pescara Rome Naples Bari Taranto Network operated by Autostrade per l Italia and its subsidiaries Other motorway operators/anas Value of project Km Group s Autostrade per l Italia ( bn) (1) interest (%) 1997 Plan Plan Plan Junctions and further works Total Italian subsidiaries Raccordo Autostradale Valle d Aosta Società Autostrada Tirrenica (2) Autostrade Meridionali Total Total major works , (1) Cost estimates at 31 December (2) Estimated amount subject to approval of the Final Design and the related Financial Plan and definition of the terms for the return on investment. In May 2011 Autostrade per l Italia has reached agreement for the sale of a stake of 69.1% in Società Autostrada Tirrenica.

21 THE GROUP S OVERSEAS PRESENCE Chile Algarrobo Casablanca Litoral Central Length: 79 km Shareholder: Autostrade Sud America 100% Cartagena Santiago Acceso Nororiente Length: 22 km Shareholder: Autostrade Sud America 100% Acceso Vial Aeropuerto Length: 10 km Shareholder: Autostrade Sud America 100% Costanera Norte Length: 43 km Shareholder: Autostrade Sud America 100% Vespucio Sur Length: 24 km Shareholder: Autostrade Sud America 100% Rio Bueno Los Lagos Length: 135 km Shareholder: Autostrade per l Italia 100% Puerto Montt 19

22 Poland India Dombivili Mumbai Ahmadnagar Katowice Pune Latur Sholapur Sangli Gulbarga Kolhapur Krakow Delhi Stalexport Autostrady Length: 61 km Shareholder: Autostrade per l Italia 56.2% Katowice Krakow Pune-Solapur Expressway Length: 110 km Shareholder: Atlantia 50% Mumbai Kolkata Chennai Brazil Triangulo do Sol Length: 442 km Shareholder: Autostrade per l Italia 70% São Paulo Manaus Belém Goiana Fortaleza Salvador Recife São Paulo Rio de Janeiro Porto Alegre 20

23 Triangulo do Sol (Brazil) Costanera Norte (Chile) Stalexport Autostrada Malopolska (Poland) Pune-Solapur Expressway (India - under construction)

24 Atlantia SpA Via A. Nibby, Rome - Italy Tel Autostrade per l Italia SpA Via A. Bergamini, Rome - Italy Tel