Regulatory Filings • Mar 15, 2023
Regulatory Filings
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Press Release
Milan, 15 March 2023. A renewed shareholder base, a new management team and a new growth strategy focusing on overseas expansion, with the aim of becoming a global leader in the management of infrastructure and the provision of sustainable integrated mobility services. This is the inspiration behind "Mundys", the new company resulting from a radical transformation process, followed by the conclusion of the public tender offer in December 2022.
Mundys's strategic goal is to continue the Group's growth and modernisation, investing in sustainable infrastructure (primarily airports and motorway networks) and in technological innovation, supporting people at all stages in their journey, whether across town or long-distance, by providing quality services designed with a view to caring for the environment.
Mundys is already present in 24 countries, managing iconic and strategic assets and infrastructure and services that are integrated with each other. Every year, over 3bn journeys are made by light and heavy vehicles on the Group's motorway networks, whilst the Company's Italian (Fiumicino and Ciampino) and French (Nice, Cannes and Saint Tropez) airports play host to 60m passengers and a further 7m use Telepass's mobility services. Mundys also has a presence in more than 600 major cities throughout the world (including London, Miami, Singapore and Bogotà), providing innovative urban mobility platforms that improve traffic flow and cut emissions. The new business has over 23,000 employees, of which around 6,000 in Italy alone.
The name of the holding company - approved by the Extraordinary General Meeting of shareholders held on 14 March and the growth strategy for the coming years were today presented in Milan, where Giampiero Massolo (Chairman of Mundys), Alessandro Benetton (Chairman of Edizione and Deputy Chairman of Mundys) and Enrico Laghi (CEO of Edizione) had their first opportunity to meet the management teams of the Group's main asset companies: José Aljaro Navarro (CEO of Abertis), together with Ana Bonet Olivart (CCEO of Elizabeth River Crossing), Gabriele Benedetto (CEO of Telepass), Franck Goldnadel (CEO of Aéroports de la Côte d'Azur), Diego Savino (CEO of Grupo Costanera), Marco Troncone (CEO of Aeroporti di Roma) and Jan Villwock (CFO of Yunex Traffic).
"On the one hand, the birth of Mundys marks the conclusion of a year's work, during which we have delivered a radical transformation and completely reshaping our values and the business," said Edizione's Chairman and Deputy Chairman of Mundys, Alessandro Benetton. "On the other," he continued, "it is the start of a new chapter in our business journey, which we wish to forge with our new partners, Blackstone, and the new team of professionals who have joined the Group, adding value thanks to their expertise in overseas expansion, innovation and sustainable growth. Born in Italy to compete throughout the world, Mundys's ambition is to operate and build sustainable, innovative infrastructure, making destinations more attractive and simplifying the lives of people on the move. This is the true spirit of the new entity that we have created together with the women and men whose task, each day, is to serve millions of travellers," concluded Benetton.
The Chairman of Mundys, Giampiero Massolo, said: "Today, a traveller can leave from Fiumicino airport, land in Nice, travel by car from Paris to the north of France, head to the UK through the Channel Tunnel, drive around the roads of London, return and pay for their parking using Telepass. During their trip, they will be able to count on infrastructure or services operated by Mundys. These," proceeded Massolo, "are the advantages of an integrated mobility system that requires infrastructure to be managed efficiently, the different platforms to talk to each other and the development of intermodality. This is where we intend Mundys to focus its energies in our interactions with our asset companies. We also aim to put ourselves forward as a partner bringing benefits in terms of jobs, services and competitiveness to the areas that host our infrastructure, conscious and proud of the fact that we are exporting Italian know-how and expertise," concluded the Chairman of Mundys.
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Aeroporti di Roma has for the last six years been the favourite airport of airline passengers and was recently given the highest possible 5-star rating by Skytrax. The development plan for Fiumicino airport envisages investment of €8bn by 2046. AdR aims to deliver this by focusing on the construction of sustainable airport infrastructure, the development of intermodality and the deployment of technologies that will make an effective contribution to the sector's decarbonisation, with the aim of reducing emissions from Fiumicino airport's infrastructure to zero by 2030. AdR was the first Italian operator to make SAF (sustainable aviation fuel) available to carriers operating at Fiumicino and has also begun to convert its fossil fuel electricity generators to green technologies. This is involving the installation of photovoltaic panels and the introduction of storage systems. Within the next 8 years, the entire Fiumicino hub will have 5,000 charging points for electric vehicles for use by passengers and airport personnel.
Last May saw the opening of Boarding Area A in Terminal 1. Used for Schengen flights, the new facility occupies 37,000 square metres, has capacity for 6m passengers a year, is certified Leed Gold and produces its own power from solar panels. This will be followed on 12 April this year with the reopening to the public of Pier B for domestic flights, after a complete refurbishment meeting rigorous sustainability and circular economy criteria.
AdR will also continue to invest in innovation: it will grow the Innovation Hub, a business incubator located at the heart of Terminal 1, where startups from all over the world can invent and test technologies and solutions that can then be applied throughout the sector; and it will develop vertiport technology through its subsidiary, UrbanV, and the partnership with Volocopter (a German startup in which Mundys has a stake), with the first commercial flights due to take off by 2024. The development of Fiumicino airport will play a key role in boosting the capital city's attractiveness in view of upcoming international events, such as the Jubilee in 2025 and, if Rome's candidacy is successful, Expo 2030.
Aéroports de la Côte d'Azur is the second most important airport system in France, operating the airports srving Nice, Cannes and Saint Tropez. The company is currently delivering a €1.5bn investment programme at Nice airport, which will increase the airport's capacity to 28m passengers by 2044, supporting an area that is the country's number two tourist destination (after Paris). Aéroports de la Côte d'Azur is also actively collaborating with UrbanV and Volocopter on the rollout of Urban Air Mobility in a leading tourist destination that also hosts a series of major international events (notably the Cannes Film Festival and F1 Championship).
Abertis, the Spanish multinational managed together with our partner ACS, will be the launchpad for the Group's global growth in the motorways sector. Abertis already has an extensive international footprint, operating motorways in Spain, Italy, Chile, Brazil, Puerto Rico, India, Mexico and the USA, and is well placed to deliver further growth. Through its French subsidiaries, Abertis, Sanef and Sapn, it is currently investing over €700m in the upgrade of motorway networks and the introduction of new services. The company is also working on the installation of approximately 500 charging points for electric vehicles at all the 72 services areas located in France.
Finally, new "free flow" technology (without toll barriers or booths, resulting in significant improvements in traffic flow and cuts in emissions) is being introduced on 220 km of motorway operated by Sapn. The system, due to enter service from 2024, is being installed at a cost of €120m.
Grupo Costanera, managed together with our partner CPPIB, is responsible for approximately 200 km of motorway network in Chile and is a key player in development of the urban motorway network serving Santiago. The network plays a significant role in the city's mobility and in connecting the various districts that make up the Chilean capital, starting with the construction, between 2000 and 2005, of the Costanera Norte, one of the city's most important arterial roads. Grupo Costanera is currently engaged in the construction of two new greenfield motorway projects of major importance for mobility in Santiago at a cost of €1bn. The first, AVO II, involves the construction and operation under concession of the last 5.2 km of Santiago's inner ring road, which will consist entirely of tunnel. The second, Ruta 78-68, involves the construction and operation of a 9.2 km section, connected with the Costanera Norte, linking Ruta 78 and Ruta 68, two key arterial roads connecting Santiago with the ports of San Antonio and Valparaiso. Chile's Ministry of Public Works has also recently awarded Grupo Costanera a contract to deliver an urban and environmental redevelopment scheme for an area of the city occupying approximately 63,000 square meters. As a result, Vespucio Sur, the Group operator that manages the southern stretch of Santiago's inner ring road, is developing a plan designed to improve the quality of life for approximately 2m inhabitants. This will include the creation of new community and green spaces, as well as the introduction of systems that will improve urban safety and the installation of over 16 km of noise barriers.
Telepass, managed in collaboration with Partner Group, is engaged in consolidating its internationalisation process (the company already provides a range of services in 14 European countries) and completing its transformation to a digital platform for mobility services. In addition to tolling services, Telepass already plays a key role in the sale of insurance services, ticketing and car parks, through to the sale of skipasses. The "box" that 7.5m people have installed in their car is already an integrated digital payments system, capable of responding to the latest global trends in mobility, increasingly based on the provision of "seamless" services.
Yunex Traffic is the global leader in ITS (Intelligent Transport Systems), whose infrastructure and platforms for managing traffic flow and urban mobility are used in more than 600 cities (including London, Singapore, Miami and Bogotà) and across 4 continents (Europe, the Americas, Asia and Oceania). The majority of CO2 emissions from transport – which accounts for approximately 18% of all emissions – are produced by road transport and, at the same time, congestion in the world's major cities has increased. This situation is due to worsen in the future: according to industry estimates, by 2050, almost 70% of the world's population will live in large cities, compared with 55% in 2018 and 60% by 2031. Yunex Traffic's mission is to develop, install and operate artificial intelligence and smart traffic management systems designed with the aim of cutting emissions. Cities such as Birmingham and Manchester, where Yunex Traffic is present, have reduced emissions by 30% and 15%, respectively, in the first 6 months (Yunex Traffic is also expanding its range of services to include London). Yunex Traffic and Atlantia's other assets are highly complementary, both with regard to the potential for the technological upgrade of existing infrastructure and in geographical terms. This is because of Atlantia's extensive presence in areas such as Italy, France and Spain, where Yunex Traffic has yet to put down roots.
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The idea for the new brand was put forward approximately a year ago by some of Mundys's newest and youngest employees, who were keen to mark the radical changes that they have lived through at the Company. The proposal was immediately welcomed by Mundys's management, the shareholder, Edizione, and its Chairman, Alessandro Benetton, and later embraced by Blackstone following the delisting.
Mundys, developed with the support of the international agency, Future Brand, is a word that has a strong Latin ring to it and that refers to the concept of globality. Its logo encapsulates the movement and dynamism of travellers, whilst the colours represent the two cornerstones of the holding company's new strategy, innovation and care for the environment.
The testimonial for Mundys's communication campaign is Vanessa Benelli Mosell, a young orchestra conductor and musician who is well-known outside of Italy. Vanessa was chosen as she represents an example of Italian excellence who, having studied and developed her musical skills at home, has built a successful international career, performing in Europe's leading theatres. Tomorrow, Thursday 16 March, Vanessa will be present at Boarding Area E in Fiumicino airport's Terminal 3 to conduct Accademia di Santa Cecilia's JuniOrchestra, consisting of approximately 110 musicians with an average age of around 20.
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