Europe
3 concessions
2 countries
336 km under our management
Projects
We manage 336 km of motorways in Europe, divided into three assets.
In Spain, where we manage 64 km of the A-4, a key highway that connects the centre and the south of the country. We are responsible for managing, maintaining and operating this asset.
In Portugal, we manage 272 km of highways in 2 concessions that connect major cities in the country, linking important tourist areas and facilitating connections between several main roads.
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A4
MADRID – OCAÑA
It is one of the main motorways in Spain and the main transport artery between the centre and the south of the country. The concession started operating partially in 2010 and became fully operational by 31 December 2011.
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AUTOESTRADAS DO ATLÁNTICO
A8: LISBOA – LEIRIA
A15: CALDAS DE RAINHA-SANTAREM170 km of concession, made up of 2 direct toll highways (A8 and A15); It is one of the main entry routes for drivers accessing the country's capital each day and Portugal's most important economic development corridor between Lisbon and Porto.
The concession was awarded in 1998. The project was progressively implemented, completing an existing network with new segments built through 2007.
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AUTOESTRADAS DO LITORAL OESTE
NAZARÉ – FÁTIMA Y OURÉM
102 km of different sections connecting the coast (Nazaré) with Portugal’s interior (Fátima and Ourém). It is a series of motorway sections that connect one of the most important tourist areas in Portugal and facilitate the region’s connections with Portugal’s main north-south routes.
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2023 has been a year of great uncertainty for the European economy
2023 has been a year of great uncertainty for the European economy, mainly due to high inflation levels, several interest rate hikes by the ECB, the war between Russia and Ukraine, the new Israeli-Palestinian conflict, the continuing effects of the 2022 energy crisis and the real estate slump in China.
On the other hand, our European assets have performed well in terms of traffic revenue, exceeding the planned budget for the year (between 1% and 10%, depending on the asset) and above the previous year's performance (between 3% and 22%).
Given the limited toll road M&A activity in Europe, ROADIS focused on optimising the operation of its European assets.
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M&A operations tend to decline in times of uncertainty
The level of activity of corporate operations in the sector was lower in 2023 compared to 2022, continuing the trend of slowing activity in recent years.
M&A operations tend to decline in times of uncertainty, market volatility and monetary tightening. During 2023, we have experienced some situations that add uncertainty for investors (ongoing effects of the Russian invasion of Ukraine, restrictive monetary policy by the ECB with significant interest rate hikes to combat inflation, new geopolitical conflict with Israel/Palestine that has generated further instability in the region, etc.).
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*(IN EUR M)A420232022Revenue from traffic18,619,8EBITDA13,914,5EBT5,55,4Net income4,14,0Operating CF13,114,3*(IN EUR M)AEA20232022Revenue from traffic90,877,7EBITDA77,559,5EBT54,735,7Net income39,126,1Operating CF59,349,3*(IN EUR M)AELO20232022Revenue from traffic6,05,1Collections by availability44,7140,8EBITDA
7,4
32,2
EBT9,5
27,7
Net income7,1
21,0
Operating CF19,9
111,2
VALUE IN COMMUNITIES
HOW DO WE CREATE VALUE IN COMMUNITIES?
Throughout 2023, we implemented initiatives in the communities near our assets.
In Spain, A-4 participated in the ROADIS Road Safety school awareness campaign, in which members of A-4 visited schools in Seseña and Valdemoro. The donation of barriers and traffic signs was also made to the Aranjuez Town Hall for the organisation of the summer festival. A-4's annual Christmas donation helped promote a reforestation of trees around the Aranjuez offices to improve the landscape and help offset CO2 emissions.
In Portugal, AEA contributed to the Ameila Melo Scholarship programme with tuition grants for two full years for the children of low-income AEA employees. In addition, AEA participated, as a member of the Associação Portuguesa das Sociedades Concessionárias de Auto-Estradas ou Pontes com Portagem (APCAP), in the development of a Road Safety Campaign aimed at protecting road operation and maintenance workers.
