Home » Italo, rain of money on Montezemolo & co: profits and revenues increase

Italo, rain of money on Montezemolo & co: profits and revenues increase

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Italo, rain of money on Montezemolo & co: profits and revenues increase

Italo, rain of money on Montezemolo & co. Revenues are also increasing

Excellent results for Italo – New Passenger Transport (“Italo”) in the last year before entering the capital with 40% of the shipowner Gianluigi Aponte. A few days ago, in fact, the shareholders’ meeting took place in Rome with the main shareholder still being the Gip fund which, led by the president Luca Cordero of Montezemolo approved the 2023 budget closed with a ordinary profit of 161.2 million euros up from 116.3 million in the previous year, a profit which was sent entirely to reserve. The rail and road transport company led by CEO Gianbattista The fortress he also saw the revenues increased year on year from 776.1 to 826.6 million and profit margins progress with an ebitda that rose from 224.8 to 308.4 million, an ebit that went from 158.8 to 236.8 million and a consolidated result that advanced from 118.3 to 157.8 million.

Investment activity recorded a increase compared to 2022 because the group has signed an agreement for the supply of 12 new Avelia Stream 300 high-speed trains, currently under construction. From a financial point of view, to support investments, the capital structure of the parent company was redefined through the repayment of the existing loan and the subscription of a new “Green Loan” of 1.4 billion. Operating revenues reflect both the growth in demand for rail transport and the contribution from the newly acquired Itabus. Financial debt amounts to approximately one billion, an increase of 70 million compared to 2022.

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