Mundys, growing results in 2025

On 30 March next, the Mundys' shareholders' meeting will put the seal on the 2025 budget and at the same time launch a reorganisation of governance that will see Alessandro Benetton as chairman of the company.

The year just ended showed, in general, an improvement in indicators in all sectors. Traffic increased both on motorways (+1.8% over 2024) and at airports (+4%). And the combination of this growth translated into a 3% increase in revenue to EUR 9.6 billion. A figure that, when compared to 2023, when turnover had reached 8.6 billion, allows for an average annual increase in turnover of 6%.

Also on the rise was ebitda, which rose by 5% to 5.9 billion (it was 5.1 billion in 2023 and 5.6 billion in 2024). All this against a constant increase in investments, which last year reached 1.835 billion, they were 1.465 billion in 2024, which means that in 12 months the commitment increased by 25%. On the debt front, the spa's net financial debt fell by 11% to 3.3 billion, while at group level it rose by 1.7 billion to 32 billion. The increase is mainly related to the acquisition, through the subsidiary Abertis, of the A63 in France and the awards in Chile, through Grupo Costanera, of Ruta 5 Temuco-Rio Bueno and Ruta 5 Chacao-Chonchi. Finally, Mundys' bond rating also improved over the past year: Moody's upgrade to Ba1 and Fitch to BB+, and S&P outlook improvement to BB+ with positive outlook.

As for the governance issue, Alessandro Benetton, as mentioned, will be elected chairman as part of the appointment of the group's new board of directors.

According to what emerges from the nominations sent to the shareholders, in fact, the number one of Edizione, the Benetton family's safe that holds the control of Mundys in axis with the Blackstone fund and Fondazione Crt, will rise to the top of the infrastructure parent company after having held the role of vice chairman in recent years. The further leap in leadership, with the shareholder somehow taking the field, would respond to precise strategic logic. In particular, together with ceo Andrea Mangoni (confirmed for the next three years), Alessandro Benetton will work to realise the growth and development plans, giving greater impetus to M&A's activities, but in general to Mundys' actions, also with reference to expansion abroad. A key pillar, the latter, of the infrastructure company's consolidation ambitions. A reality that on the motorway front operates in 45 countries with 11 concessions and on the airport front manages five airports. The outlook, therefore, is already global, but the ultimate goal is to give new life to growth beyond the borders. Which, it must be said, in the last three years has made acquisitions for 8 billion euros of enterprise value in countries such as France, Spain, Chile, and Puerto Rico. A value that will represent the starting point from which M&A's next season will spring. Hence the direct commitment of Alessandro Benetton, who will obviously also remain at the helm of Edizione.