Mundys, Andrea Mangoni will be the first managing director – Corriere.it

Andrea Mangoni will be the first CEO of Mundys, the former Atlantia: the board of directors met on Tuesday 4 April and approved the 2022 financial statements, which sees growth in the group’s Ebidta to 4.5 billion (+12%), revenues at 7.4 billion (+16%) and a reduction of 10.1 billion in debt, from 29.8 to 19.7 billion. The new CEO Mangoni, wanted by Alessandro Benetton, president of Edizione, completes the management team, with a CEO of Edizione, Enrico Laghi, together with the president of Mundys Giampiero Massolo. The appointment will be decided by the board of directors after the meeting of 28 April.

The profile

Andrea Mangoni – reads a company note – has worked for over 25 years at the highest levels in various infrastructural sectors, from energy to transport infrastructures, from water management to telecommunications, gaining extensive international experience and has a solid track record record in terms of transformation and innovation capacity of large industrial groups. In the first phase, he was CFO and then CEO of Acea, of which he oversaw the IPO and developed the investment plan in the energy sector. In Telecom Italia he worked as CFO and General Manager of the international activities of the Group, mainly based in Argentina and Brazil. He also held the position of CEO of Sorgenia, realizing a real turnaround of the company, through a complete reorganization of the business. he was CEO of doValue, a company from which he resigned effective April 27, 2023. Finally, from April to December 2022, he was part of the then board of Atlantia, as an independent director.

The budget

With regard to the company’s accounts, the net financial debt amounted to 19.7 billion euros, down by 10.2 billion euros mainly due to the receipts from the disposals of Aspi and Hochtief (respectively 8.2 billion euros and 0.6 billion euros), for the contribution from Ffo (3.1 billion euros) net of investments (1.3 billion euros) as well as for the collection of the regulatory credit associated with the Spanish Ap-7 concession of Abertis (1 .1 billion euro), effects partially offset by the dividends distributed to Mundys shareholders and third party shareholders (totalling 1.2 billion euro). The operating results of the motorway sector (Abertis group and other foreign motorway businesses) benefited from higher traffic (+8% compared to 2021), toll increases recognized to the concessionaires, as well as the general appreciation of foreign currencies.

At airports

The airport sector also benefits from a marked recovery in traffic volumes compared to 2021 (+119%), both for the Aeroporti di Roma group and for the Aeroports de la Cote d’Azur group, with an overall recovery of over 70% of pre-crisis traffic levels. The results are also affected by the contribution of 219 million euros relating to the Covid damage provision for airport operators recognized to Aeroporti di Roma, recognized in 2021 among revenues and collected in 2022. Mundys spa closed 2022 with a positive result of 2 9 billion euros, also due to the net capital gain on the sale of Aspi (2.8 billion), up on the 1.7 billion in 2021 which benefited from the capital gain on the sale of 49% of Telepass for 1 billion.