Atlantia is a holding company with subsidiaries and associates whose business is the construction and operation of motorways, airports and transport infrastructure, parking areas and intermodal systems, or who engage in activities related to the management of motorway or airport traffic.
  • TickerATL
  • ISINIT0003506190
  • SectorIndustrial Transportation
  • CountryItaly

Analysts

1 director sold

A director at Atlantia sold 1,500 shares at 23.201EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Expert Corporate Governance Service (ECGS)

Atlantia April 18th, 2019

In item 1, the Board proposes to distribute a dividend of € 0.90 per share on 2018 results, to be paid on May 22 (ex-dividend date: May 20). We regret that the proposed dividend distribution (€ 736 million) is not covered by free cash flow (- € 15'729 million in 2018), and concerns may arise over the financial situation of the Company (net debt represents 2.5 times its market capitalization). Therefore, we recommend opposition. In item 3, we also recommend opposing the authorization to buy-back shares, as the maximum price of the repurchase (120% of the market price) exceeds our voting policy...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Résultats pénalisés par de nouvelles provisions sur le viaduc de Morandi

>Résultats inférieurs aux attentes de nouveau pénalisés par le viaduc de Morandi - Atlantia a publié des résultats 2018 inférieurs aux attentes. Le chiffre d’affaires T4 ressort à 2 291 M€ en hausse de 60% (effet périmètre), 10% supérieur aux attentes. En revanche, l’EBITDA est stable à 855 M€ alors que le consensus attendait 1 232 M€. Le groupe a enregistré sur le T4 des charges et provisions supplémentaires de 168 M€ liés à l’effondrement du viaduc de Morandi porta...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/15/2019

...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Résultats pénalisés par de nouvelles provisions sur le viaduc de Morandi

>Résultats inférieurs aux attentes de nouveau pénalisés par le viaduc de Morandi - Atlantia a publié des résultats 2018 inférieurs aux attentes. Le chiffre d’affaires T4 ressort à 2 291 M€ en hausse de 60% (effet périmètre), 10% supérieur aux attentes. En revanche, l’EBITDA est stable à 855 M€ alors que le consensus attendait 1 232 M€. Le groupe a enregistré sur le T4 des charges et provisions supplémentaires de 168 M€ liés à l’effondrement du viaduc de Morandi porta...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/15/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/02/2019

Et si le Royaume-Uni et l’Union européenne ne parvenaient pas à s’entendre pour organiser le Brexit en douceur... Telle est l’hypothèse de travail de cette étude. Au Royaume-Uni, le pays perdant d’un coup tous les avantages commerciaux existants, il s’en suivrait une chute brutale du commerce, une désorganisation des chaînes de production, un stress financier majeur, bref une sévère récession. Le choc pèserait aussi, mais à un degré moindre, sur le reste de l’Europe. On examine ici le...

Baptiste Lebacq ...
  • Christophe-Raphaël Ganet
  • François Maury
  • Georges Dieng
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Michael Foundoukidis
  • Nicolas Thorez
  • Rémi Adam
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 15/02/2019

Et si le Royaume-Uni et l’Union européenne ne parvenaient pas à s’entendre pour organiser le Brexit en douceur... Telle est l’hypothèse de travail de cette étude. Au Royaume-Uni, le pays perdant d’un coup tous les avantages commerciaux existants, il s’en suivrait une chute brutale du commerce, une désorganisation des chaînes de production, un stress financier majeur, bref une sévère récession. Le choc pèserait aussi, mais à un degré moindre, sur le reste de l’Europe. On examine ici le...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Hard Brexit or fear of heights

>A decline of 4% in construction volumes in the event of a hard Brexit - Private construction (residential and especially non-residential) will indisputably be hit by a hard Brexit and a recession in the UK. The impact on infrastructure spending could, in contrast, be more limited: projects under way will likely continue and we could even imagine that in the medium term, the UK government might launch stimulus plans for the economy …The Construction Products...

1 director sold

A director at Atlantia sold 1,500 shares at 23.201EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/14/2018

...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/12/2018

...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/11/2018

...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/11/2018

...

With a more favourable environment, ATLANTIA improves to Slightly Positive

ATLANTIA (IT), a company active in the Transportation Services industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 18, 2019, the closing price was EUR 19.64 and its potential was estimated at EUR 21.35.

Expert Corporate Governance Service (ECGS)

Atlantia April 18th, 2019

In item 1, the Board proposes to distribute a dividend of € 0.90 per share on 2018 results, to be paid on May 22 (ex-dividend date: May 20). We regret that the proposed dividend distribution (€ 736 million) is not covered by free cash flow (- € 15'729 million in 2018), and concerns may arise over the financial situation of the Company (net debt represents 2.5 times its market capitalization). Therefore, we recommend opposition. In item 3, we also recommend opposing the authorization to buy-back shares, as the maximum price of the repurchase (120% of the market price) exceeds our voting policy...

Atlantia SPA – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude l' AG du 02/08/2017

The EGM (item 1) is called to authorize the Board to increase the share capital by up to maximum 160'310'000 shares (19.4% of existing share capital) to service the acquisition of Abertis Infraestructuras SA. The offer for 100% of Abertis shares amounts to € 16.4 billion, equal to € 16.50 per share, to be partially paid in shares for a maximum of 23.2% of Abertis share capital. Abertis' shareholders may opt, in whole or in part, for a payment in shares at a ratio of 0.697 Atlantia Special Shares for each Abertis share. The offer is subject to the acceptance of the partial share exchange offer ...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 21/04/2017

In item 3, the Board proposes the adoption of two long-term incentive plans to replace the "Phantom Stock Option Plan 2016-2019" which terminated in 2016: a "phantom stock grant plan" and a "phantom stock option plan", providing for a cash payment respectively equal to aggregate market price of performance shares and the difference between the share market price and a predefined exercise price. We strongly regret that the main terms of the incentive plans (performance conditions and maximum amount) were not defined before requesting approval of shareholders. Furthermore, concerns may arise ove...

Valérie GASTALDY

Analyse court terme - ATLANTIA SPA : Le rebond gagne en vigueur.

La tendance de fond est clairement orientée à la baisse. Le rebond gagne en vigueur. Il est trop tôt pour parler de retournement haussier. La tendance de fond serait remise en cause en cas de franchissement de 23,600 €.

Valérie GASTALDY

Short term view - ATLANTIA SPA : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €20.120. The next target is at €17.538, then €15.680. Passing €23.600 would question the continuation of the fall.

Jérôme VINERIER

Analyse moyen terme - ATLANTIA SPA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 14,119 €, puis 11,185 €. Le franchissement de 23,233 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Medium term view - ATLANTIA SPA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €14.119, then €11.185. Passing €23.233 would question the continuation of the fall.

Valérie GASTALDY

Analyse moyen terme - ATLANTIA SPA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 18,067 €, puis 14,119 €. Le franchissement de 27,509 € remettrait en cause la suite de la baisse.

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