Atlantia’s H1 results came in below the consensus. As expected, traffic saw a significant drop in the concessions. The management reiterated its top line and cash flow post-capex outlook as announced during the FY19 report, but now expects traffic to be down by a respective 15% and 65% for motorways and airports. We had anticipated details of the agreement to accompany these results but the parties have yet to reach an agreement, hence skepticism prevails.
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H1 20: Handshake agreement turned out to be a politician’s word
- Published:
06 Aug 2020 -
Author:
Sejal Varshney -
Pages:
3
Atlantia’s H1 results came in below the consensus. As expected, traffic saw a significant drop in the concessions. The management reiterated its top line and cash flow post-capex outlook as announced during the FY19 report, but now expects traffic to be down by a respective 15% and 65% for motorways and airports. We had anticipated details of the agreement to accompany these results but the parties have yet to reach an agreement, hence skepticism prevails.