About us

The Group

Principal Group companies
Notes: Main Group companies
(1) The percentage shown refers to the interest in terms of the total number of shares in issue.
(2) The percentage shown refers to the interest in terms of the total number of shares in issue, whilst the interest in ordinary voting shares is 58,00%.
(3) Elgea was established in January 2022.
(4) Autostrade Meridionali’s concession was transferred to a new operator on 1 April 2022.
The Group’s motorway operators
(4) Autostrade Meridionali’s concession was transferred to a new operator on 1 April 2022.

Financial highlights (€m)

Toll revenue(1)




Net profit


Cash EBITDA(3)


Operating cash flow


Net debt


New bond issues


maturing in 2030
(1) Up €683 million compared with 2020, reflecting an improvement in traffic following the relaxation in 2021 of the restrictions on movement introduced by Government authorities. Revenue has, however, remained below pre-pandemic levels (down €216 million compared with 2019).
(2) Gross operating profit (EBITDA) is up €1,463 million compared with 2020, due to the combined effect of revenue growth and a reduction in net provisions at Autostrade per l'Italia. EBITDA for 2020 was affected by the significant provisions made in relation to an updated estimate of the expenses to be incurred as a result of the Settlement Agreement.
(3) “Cash EBITDA” is the synthetic indicator of cash earnings from operating activities, calculated by stripping out from EBITDA the “Operating change in provisions” and the non-cash effect of toll exemptions and discounts recognised in toll revenue, with the matching use of provisions for risks and charges made in previous years to cover the cost of the commitments included in the settlement agreement with the Ministry of Sustainable Infrastructure and Mobility (the “MIMS”).

Non-financial highlights

Regulatory framework

Regulatory framework

Signature on 14 October 2021 with the MIMS and Liguria Regional Authority, Genoa City Council and the city’s Port Authority of the Settlement Agreement ending over alleged serious breaches initiated in 2018
The new Addendum including the commitments under the settlement agreement, totalling €3.4bn effective from the end of March 2022
Network safety

Network safety

Approx. €1.8bn in capex and maintenance to modernise the network (+30% vs. 2020); over 19,000 bridges, viaducts and tunnels inspected in a year, also using ground-penetrating radar or lasers
Launch of plan to digitally map the network using the ARGO platform
Accident rate broadly in line with 2020, despite traffic growth
Internal Control and Risk Assessment System

Internal Control and Risk Assessment System

Upgrade of Internal Control System and continuous risk monitoring
Renewal of ISO 37001 certification of anticorruption management system
Human Resources

Human Resources

Approx. 1,600 people hired since January 2020 as part of plan to create 2,900 jobs
195,000 hours of training for personnel in 2021 (+326% on 2020)
Launch of the Group’s Diversity & Inclusion programme
The proportion of management positions held by women rose by 30% in 2021 compared with the previous year


The Board of Directors establishes in October 2021 a Sustainability Committee
Commitment to be carbon neutral to limit the increase in the global temperature to 1.5° C by 2050, in line with COP26 in Glasgow
Decarbonisation with a series of targets set using SBTi (Science Based Target Initiative) to be certified by
A2 Rating from Moody’s ESG Solutions
€750m revolving credit facility converted into an ESG-linked facility (1)
(1) The margin on the facility is linked to the achievement of specific ESG goals such as carbon footprint, gender diversity and road safety. The Group will reinvest the amount equivalent to any reduction in the margin in initiatives designed to further improve our sustainability roadmap and/or to benefit external organisations (such as, for example, NGOs and foundations).

Strategic Transformation Plan

Autostrade per l'Italia's Strategic Transformation Plan, launched at the beginning of 2020, now covers around 100 projects currently underway, some with the involvement of other Group companies. The projects regard the core motorway business and also aim at opening up new areas of business in engineering, innovation and urban mobility systems.

2020-2038 in figures (7)





(7) Figures taken from Financial Plan.

Seven key pillars of the Plan have been defined, setting out the main areas forming the basis for the creation and development of new projects:

Seven key pillars of the Plan

360° Next

The «360° Next» programme, designed to communicate and publicise the projects and initiatives inspired by the 7 key pillars and aimed at strengthening relations with all stakeholders, was also established in 2020.

Initiatives that aim to achieve growth and operational excellence, with an increasing focus on sustainability in all its forms: respect for the environment, social inclusion and good governance
Next to ESG
Initiatives that aim to ensure 360° Safety through the development of an integrated approach to safety on roads, at construction sites and at workplaces
Next to Safety
Initiatives that aim to digitalise processes and services and transform the network into smart infrastructure using leading-edge technologies
Next to Digital
Initiatives focusing on Human Resources with specific induction and onboarding programmes for newly hired personnel, welfare initiatives and a rethinking of workspaces and the way we work
Next to People
Partnerships and collaboration with leading Italian universities to guarantee the best possible training for all the Group’s employees
Next to Knowledge
Initiatives that aim to guarantee all-round operational excellence through continues improvements in processes, the organization and management systems
Next to Excellence
Initiatives that aim to upgrade the Internal Control System and drive the continuous monitoring of risk that integrates performance and compliance, ensuring integrity, transparency and quality across all our business processes
Next to Legality
Initiatives that aim to publicise the transformation through communication and information initiatives using both internal and national media and channels
Next to Engagement
The Mercury programme The Mercury Programme