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Atlantia posts 1.18 billion euro net loss in 2020 - Metro US

Atlantia posts 1.18 billion euro net loss in 2020

FILE PHOTO: General view of an infrastructure group Atlantia's headquarters, in Rome

MILAN (Reuters) – Italian infrastructure group Atlantia on Thursday said it swung to a net loss of 1.18 billion euros ($1.41 billion) last year as the negative impact of the coronavirus crisis added up to the consequences of the 2018 Genoa deadly bridge collapse.

The group, which is controlled by the Benetton family, said it booked writedowns worth 282 million euros linked to the effect of the pandemic on traffic.

Atlantia is in talks with a consortium of suitors led by Italian state lender CDP to sell its 88% stake in motorway unit Autostrade per l’Italia, which ran the Genoa bridge.

($1 = 0.8344 euros)

(Reporting by Francesca Landini, editing by Giulio Piovaccari)

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