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First half of 2025: Growing results and margins confirm the Group’s solidity

01 August 2025

In a complex global context, ASTM continues on its growth path with positive performance in key sectors (concessions, EPC, and technology) and a constantly expanding international presence. In the first half of the year, turnover reached €2.2 billion, up 3.1%[1] compared to the previous year, EBITDA grew by 1.1%[1] compared to 2024, while net profit stood at €98.8 million.

 

  1. Concessions

Motorway traffic showed positive growth in both Italy and Brazil. In Italy, the network benefited from an increase in light vehicle traffic[2], while in South America, the increase in volumes was driven by new concessions and efficient management of existing routes. The investments made – amounting to €606.1 million – confirm the Group’s commitment to the modernization and safety of its concession network worldwide. Finally, ASTM is strengthening its presence in the US market, where it is continuing to make progress on the ADA Stations project to improve accessibility at 13 New York City subway stations and is expanding its portfolio of opportunities with prequalification in a PPP initiative for a new concession in the state of Tennessee.

  1. EPC

ASTM operates in the EPC sector through the Itinera Group, one of Italy’s leading construction companies, present in over 10 countries worldwide. Itinera continues to strengthen its position with a strong focus on strategic markets: Italy, Central and Northern Europe, the US and Brazil. As of June 30, 2025, the backlog amounted to €5,765 million (42% captive, 58% third parties) with a geographical distribution of 59% in Italy and 41% abroad. In line with the One Company approach, the Group companies provide support to the Group’s concessions sector in Italy and abroad, both in the tender and in the subsequent design, execution and management phases.

  1. Technology

Sinelec continues to develop advanced technological solutions and systems for infrastructure, consolidating its role both as a supplier for the Group and as a technology partner for third-party customers which are currently experiencing strong growth. The company remains a strategic asset for sustainable infrastructure innovation, with a significant backlog and increasing internationalization of its activities, particularly in Brazil and the United States.

 

[1] The data has been calculated taking as reference the “adjusted” 1H2024 figures that reflect the exit from the operating scope of the A5 and A21 sections, which expired and were managed under an extension agreement by the subsidiaries ATIVA S.p.A. and SATAP S.p.A. respectively until 30 November 2024, and the acquisition of control and the consequent consolidation on a “line-by-line” basis of the figures related to Tangenziale Esterna S.p.A. (TE). The adjusted figures for the 1H2024 therefore include the figures for TE and exclude those for the A5 and A21 concessions.

[2] To allow for a like-for-like comparison, it was not taken into account traffic data related to Tangenziale Esterna S.p.A., ATIVA S.p.A. or SATAP S.p.A. – A21 section.

 

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