(Alliance News) - Autostrade Meridionali Spa announced Monday that it posted a loss of EUR852,000 in the first half of the year, which compares with a profit of EUR15.9 million for the same period in 2022.

The company points out that the results as of June 30 "are not comparable with the corresponding results as of June 30, 2022 in view of the fact that in the first quarter of 2022 Autostrade Meridionali still managed the A3 Naples-Pompei- Salerno, a concession in which a new concessionaire took over as of April 1, 2022."

Therefore, "the operations recorded in the first half of the year are attributable solely to management activities referable to the definition and payment of debts and collection of residual receivables, deriving from the previous management of the freeway section, including adjustments of items related to tolls and activities contracted out in previous years."

Revenues for the first half amounted to EUR342,000 from EUR33.8 million in the same period last year.

Ebitda is negative EUR1.2 million from positive EUR22.8 million.

Ebit was negative EUR1.3 million from a positive EUR24.0 million in the first half of 2022.

As of June 30, the Total Net Financial Position was EUR52.2 million, while it was EUR77.7 million as of December 31, 2022. The decrease stems mainly from dividends distributed to shareholders in the first half of 2023 amounting to more than EUR15.3 million.

Autostrade Meridionali's stock on Monday closed 0.8 percent in the red at EUR12.15 per share.

By Chiara Bruschi, Alliance News reporter

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