Tuesday, October 3, 2023

The rescued highways double their profits in 2022 after increasing their traffic by 10%

The toll roads, which went bankrupt after the 2008 financial crisis and were rescued by the state in 2017, made a net profit of 2.7 million euros in 2022, more than doubling the profit of 1.2 million euros the previous year.

According to the accounts consulted by Europa Press of the public company that manages it, Seitt, the income of the nine roads included in its portfolio amounted to 87.9 million euros, 15% more than in 2021, once again exceeding the previous billing the coronavirus pandemic.

In any case, this deal value is lower than the 108 million euros that the company had expected after admitting that 2022 “was also marked by the pandemic”.

In total, 48 million vehicles traveled on its highways during the year, an increase of 10% compared to 2021, with traffic on the R-2 (Madrid to Guadalajara), the R-3 (Madrid exit towards Valencia) and The R-5 (Madrid-Navalcarnero) with 9.8, 9.5 and 8.2 million vehicles should be highlighted.

These last two routes (R-3 and R-5), operating under the same concession, generated 7.6 million euros, with a total income of 27.3 million euros. R-2, in turn, achieved a profit of 1.2 million and revenue of 14.6 million euros.

Although all roads increased traffic, the R-4 (Madrid exit towards Córdoba) and the AP-41 (Madrid-Toledo) suffered losses of 4.6 and 3.2 million euros, respectively, due to their high operating costs.

The AP-7 Alicante ring road and the M-12 Madrid airport axis also lost money, although to a lesser extent: 1.3 and 1.2 million, respectively. The remaining two, AP-36 (Ocaña-La Roda) and AP-7 (Cartagena-Vera), won 3.9 million and 212,000 euros, respectively.

Although the road management business was positive for Seitt, the company recorded losses of 9 million euros, which can be attributed to its other line of business, namely infrastructure work on roads and also on railway tracks.

This construction phase generated a turnover of 181 million euros and a loss of 11.8 million euros, which had a negative impact on the group’s results due to the free work carried out on Adif (the public company that manages the railway tracks). In any case, the “red figures” of 9 million contrast with the 72 million that the country lost the previous year, thus reducing it by 87%.

By 2023, Seitt expects revenue in its highway management division to reach 102 million euros, an increase of 16% compared to 87.9 million in 2022. The planned investments for this year amount to 16 million euros.

World Nation News Desk
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