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

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/14/2019

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Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Abertis expanding in Mexico

>Abertis has acquired 50.1% of RCO in Mexico for € 1.5bn - Abertis (50%-owned by Atlantia), in partnership with GIC, announced on Friday afternoon an agreement with Goldman Sachs Infrastructure Partners (GSIP) for the acquisition of its 70% stake in the capital of Red de Carreteras de Occidente (RCO) in Mexico. Abertis has thus acquired 50.1% of RCO, for € 1.5bn, valuing RCO at around € 5bn (EV).RCO currently operates five concessions (see details on page 2) tota...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/10/2019

...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Abertis se développe au Mexique

>Abertis acquiert 50.1% de RCO au Mexique pour 1.5 Md€ - Abertis (détenu à 50% par Atlantia), en partenariat avec GIC, a annoncé vendredi après-midi avoir conclu un accord avec Goldman Sachs Infrastructure Partners (GSIP) pour l’acquisition de leur participation de 70% au capital de Red de Carreteras de Occidente (RCO) au Mexique. Abertis acquiert ainsi 50.1% de RCO, pour un montant de 1.5 Md€ valorisant RCO à environ 5 Md€ (EV).RCO gère aujourd’hui 5 concessions...

Alain William ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/23/2019

...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Abertis expanding in Mexico

>Abertis has acquired 50.1% of RCO in Mexico for € 1.5bn - Abertis (50%-owned by Atlantia), in partnership with GIC, announced on Friday afternoon an agreement with Goldman Sachs Infrastructure Partners (GSIP) for the acquisition of its 70% stake in the capital of Red de Carreteras de Occidente (RCO) in Mexico. Abertis has thus acquired 50.1% of RCO, for € 1.5bn, valuing RCO at around € 5bn (EV).RCO currently operates five concessions (see details on page 2) tota...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Abertis se développe au Mexique

>Abertis acquiert 50.1% de RCO au Mexique pour 1.5 Md€ - Abertis (détenu à 50% par Atlantia), en partenariat avec GIC, a annoncé vendredi après-midi avoir conclu un accord avec Goldman Sachs Infrastructure Partners (GSIP) pour l’acquisition de leur participation de 70% au capital de Red de Carreteras de Occidente (RCO) au Mexique. Abertis acquiert ainsi 50.1% de RCO, pour un montant de 1.5 Md€ valorisant RCO à environ 5 Md€ (EV).RCO gère aujourd’hui 5 concessions...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Should investors reposition after the recent sell-off?

>10% off its highs - Atlantia's share price has shed 10% since 13 September, largely underperforming the sector. Italian investigators announced on Friday 13 September that nine employees of ASPI and Spea (Atlantia group) had been placed under house arrest, following allegations of falsified reports for maintenance work on some bridges (Pecetti and Paolillo viaducts).At this stage, Atlantia is not directly impacted but these revelations raise questions around the...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Faut-il se repositionner après la baisse récente ?

>Une baisse de 10% depuis les plus hauts - Le titre Atlantia a baissé de 10% depuis le 13/09, sous-performant massivement le secteur. Les enquêteurs italiens ont en effet annoncé que 9 salariés des sociétés ASPI et Spea (groupe Atlantia) ont été placés en résidence surveillée, accusés d’avoir falsifié des rapports sur les travaux de maintenance sur certains ponts (viaducs de Pecetti et Paolillo).A ce stade, la société Atlantia n’est pas directement concernée mais...

Sven Edelfelt ...
  • Virginie Rousseau

Atlantia : Interim results close to consensus

>Pro forma EBITDA growth of 4% in H1 - After +6% in Q1, Atlantia’s sales rose 3% on a pro forma basis in H1 (factoring in Abertis at 1 January 2018) 0.7% higher than forecast. The H1 EBITDA was 1% higher than the consensus with 4% organic.EBIT and net profit were also close to forecast.Abertis as the main growth driver - Over the first half, EBITDA growth was very much driven by Abertis (consolidated since end-October 2018). This division's ...

1 director sold after exercising options/bought

A director at Atlantia sold after exercising options/bought 9,266 shares at 24.220EUR 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 ru...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/14/2019

...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/10/2019

...

Alain William ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/23/2019

...

Alain William ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/09/2019

...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Emira Sagaama
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/05/2019

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ATLANTIA reduced its risk exposure resulting in an upgrade to Slightly Positive

ATLANTIA (IT), a company active in the Transportation Services industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date September 3, 2019, the closing price was EUR 22.69 and its potential was estimated at EUR 25.76.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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

Short term view - ATLANTIA SPA : The bounce is gaining strength.

The background trend is clearly bearish. The bounce is gaining strength. It is too early to qualify this market action as a bullish reversal. The background trend would be questioned should prices rise above €23.600.

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

Analyse court terme - ATLANTIA SPA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 20,120 € prochainement. Le prochain objectif est à 17,538 €, puis 15,680 €. Le franchissement de 23,600 € remettrait en cause la suite de la baisse.

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.

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