May 10, 2019 / 2:46 PM / 2 months ago

Atlantia sales, core profit double in first quarter thanks to Abertis

FILE PHOTO: A logo of the Atlantia Group is seen outside their headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Revenue at Italian infrastructure group Atlantia came in at 2.59 billion euros in the first quarter, twice the level reached in the same period of last year thanks to the acquisition of Spain’s Abertis.

On a like-for-like basis, after stripping out the contribution of Abertis, sales were up 4%.

Core earnings also nearly doubled to 1.56 billion euros in the period due to the consolidation of Abertis, which Atlantia bought last year. Excluding the Spanish acquisition, earnings grew 3% on a like-for-like basis.

An increase in maintenance costs after the deadly collapse of a motorway bridge in the city of Genoa last year hit Atlantia’s Italian motorway business, the company said on Friday.

Reporting by Francesca Landini, editing by Silvia Aloisi

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