Mundys (formerly: Atlantia SpA)

Environmental & Social Information • Sep 16, 2024

Press Release

MUNDYS PUBLISHES NEW EDITION OF ITS TAX TRANSPARENCY REPORT. TAX PAID WORLDWIDE BY THE GROUP RISES TO €2.5 BILLION

• ✓ Tax paid in 2023 is up 15% compared with the previous year: the uptick is due to a recovery in airport and motorway traffic. In Italy, tax amounting to over €440 million was paid, marking an increase of €70 million.
• ✓ A new ESG tax classification was introduced to enhance transparency regarding operating segments and geographical distribution

Rome, 16 September 2024 - The 2024 edition of the Tax Transparency Report, a key pillar of Mundys's tax transparency strategy, has been published online. This third edition of the annual report - covering the 2023 tax year - provides a detailed overview of the policies and practices via which the Group contributes to the jurisdictions and economies in which it operates, by promoting responsible, transparent and sustainable tax management.

The 2024 Tax Transparency Report applies the Total Tax Contribution methodology to provide a comprehensive view of the taxes paid directly by Mundys (Taxes Borne), and those withheld and passed on to local tax authorities (Taxes Collected).

In 2023, Mundys's Total Tax Contribution amounted to €2,533 million, up 15% from the €2,210 million registered in the previous year. Of this amount, Taxes Borne total €1,306 million and Taxes Collected total €1,227 million. These figures confirm the substantial progress the Group has made in all operating segments, with significant year-on-year growth in the airports (43%), motorways (6%) and mobility services (95%¹) segments and in corporate activities (15%), after the post-pandemic recovery in traffic.

In terms of geographical area, over 99% of the Total Tax Contribution is concentrated in Europe and the Americas, in line with the distribution of revenue. The distribution of Mundys' Total Tax Contribution reflects the Company's presence in Italy, France, Chile, Brazil, Spain and Mexico, which account for approximately 90% of total tax paid, in line with the strategic and economic trends that mark the Group's operations.

In Italy, the Mundys Group's Total Tax Contribution amounts to over €440 million, up €70 million on 2022.

Compared to previous editions, this Report introduces important new features, including representation of a separate tax contribution based on the 5Ps concept (Profit, People, Product, Property, Planet Tax), which responds to environmental challenges via dedicated taxes. New tax contribution indicators were also specifically defined for the airports and motorway segments, which provide more detailed disclosure of the Group's tax impact. Finally, the scope of reporting for the main countries in which Mundys operates has been expanded, with a greater focus on local tax trends.

Publication of the Report fits in well with the current regulatory scenario regarding developments in the collaborative compliance scheme, which, via the tax reform introduced by Law 111/2023, is being further strengthened and expanded to include an ever-wider range of taxpayers. Indeed, participation in this scheme requires a high level of transparency from taxpayers, who must provide all the information needed by the tax authorities to correctly assess their tax position.

Mundys, which joined the scheme in 2018 (followed by Aeroporti di Roma in 2019), has always appreciated the value of this regulatory tool. The Company participated in the 2013 pilot project, in the awareness that relationships between taxpayers and tax authorities based on transparency and mutual respect comprise a vital asset for the entire country, with effects across all the jurisdictions in which the Group operates.

Finally, for the third consecutive year, in confirmation of its commitment on the tax and ESG front, Mundys has been awarded a Fair Tax Mark by the British foundation of the same name. The award recognises the Mundys Group's responsible and fair tax management, and its proactive sharing of publicly disclosed information with all the Group's external stakeholders, as part of an ongoing commitment to increasing transparency.

¹ This increase is justified by Yunex Traffic's contribution for full year 2023, compared with just six months in 2022.