Strait Bridge, Anas goes down by 69 million
In their resolution of 4 December, the accounting magistrates X-ray the FS subsidiary and note the write-down of Stretto di Messina shares in the 2023 financial statements
2' min read
2' min read
"In the matter relating to the valuation of the company Strait of Messina in the Anas 2022 budget, the criterion of valuation "at cost" was followed, which is not compatible with paragraph 6 of Article 4 and no. 4, paragraph 8, of Article 2 Decree-Law no. 35 of 2023. Subsequently, the independent expert appointed by the Mef considered more than 85 million euro of costs incurred by SdM not functional to the restart of the work, with a consequent negative impact of more than 69 million on the 2023 budget of Anas caused by the loss of value of the shares of Stretto di Messina".
This was written by the Court of Auditors in its resolution 143 of 4 December on the audit activities on the financial management of Anas in 2023. The findings of the accounting magistrates, which refer to "an incorrect valuation of the shares of Stretto di Messina owned by Anas" and "a significant devaluation of the shares of SdM carried out by the expert in adherence to the legal obligation to only take into account the costs functional to the restart of the work" with "negative repercussions on the budget", has provoked the reaction of the PD, which has presented a question to Ministers Giorgetti and Salvini on the matter. After the Corte dei Conti's findings on Anas's financial management," said the PD group leaders in the Transport Committee, Anthony Barbagallo, and in the Environment Committee, Marco Simiani, in a note, "the government can no longer look the other way.
The accounting magistrates' findings also concern Anas's concession with the "valorisation of the concession in the budget with revenues until 2052". The company, the Court of Auditors found, 'continued to valorise the concession, trusting that paragraphs 1018-1019 of law 27 December 2006, no. 296, would allow the initial duration of the concession, which was set at 30 years, to be replaced in 50 years'. But this is, for the magistrates, a "very delicate point for the Company's current and future financial equilibrium" and finally that on this "the company's position does not find solid factual and juridical references"..
