Atm, the Milanese public transport group, has achieved financial stability in 2023 thanks to its international operations. The company closed the year with a substantial break-even, reporting a profit of €753,000. This positive result was supported by its activities abroad and its subsidiary companies. The approval of the financial statements took place during a shareholders’ meeting, which was attended by Arianna Censi, the Deputy Mayor for Mobility, representing the sole shareholder, the Municipality of Milan.
The company’s industrial policies aimed at expanding into foreign markets, combined with effective management practices that streamlined all processes, allowed Atm to contain the losses of its parent company, Atm Group, to €11 million. This achievement not only preserved the overall financial solidity of the group but also ensured the continuation of investment plans for the coming years.
More specifically, Atm’s international activities, including the management of the entire Copenhagen metro network and the recent contract for the Thessaloniki metro, accounted for over 10% of the €1.1 million in revenues. These activities were characterized by significant profitability, which contributed to the sustainability of the entire group. Additionally, the break-even result was also thanks to the contribution of Atm’s Italian subsidiaries, such as Net, which manages transportation in the Monza and Brianza area.
However, the company’s financial performance was still affected by the consequences of the pandemic. The contraction in passenger numbers, combined with increased electricity prices and high inflation, had a negative impact on the company’s results. Nevertheless, overall revenues increased by €6 million compared to 2022, reaching €1.097 million. This improvement was driven by higher fees from international public transport service contracts in Copenhagen and Thessaloniki, as well as contracts for managing the M5 and M4 lines in Italy. Furthermore, Atm’s subsidiary, Net, also contributed to increased revenues. Additionally, revenues from auxiliary services and commercial activities related to local public transport, such as parking, car removal, and commercial ventures, also saw growth.
On the cost side, however, Atm experienced an increase of €44 million, reaching a total of €1.022 million. This increase was mainly attributed to rising energy costs. As a result, the company’s gross operating margin decreased to €75 million, representing a €38 million decrease compared to 2022.
Despite the challenges posed by the pandemic and rising costs, Atm’s achievement of financial stability demonstrates the effectiveness of its expansion strategies and efficient management practices. The company’s success in international markets, along with the contributions of its subsidiary companies, has played a crucial role in maintaining its financial solidity. Looking ahead, Atm remains focused on its investment plans and aims to continue providing efficient and sustainable public transportation services to the city of Milan and beyond.