April 28, 2020 / 5:14 PM / a month ago

Italy's Atlantia says virus will shave 3 billion euros from 2020 sales

FILE PHOTO: An Atlantia Group sign outside its headquarters in Rome, Italy, August 31, 2018. REUTERS/Alessandro Bianchi/File Photo

MILAN (Reuters) - Italian infrastructure group Atlantia (ATL.MI) said on Tuesday the novel coronavirus would reduce motorway and airport traffic, cutting its expected revenue for this year by around 3 billion euros (2.61 billion pounds).

The group, which is controlled by the Benetton family and runs Rome’s airports and operates more than 3,000 kms of roads in Italy, said it scrapped the dividend on its 2019 results.

Atlantia reported a revenue of 11.6 billion euros in 2019, up 4% on a like-for-like basis compared to the previous year. Core earnings were up 1% on a like-for-like basis to 15.73 billion euros.

Reporting by Francesca Landini, editing by Giulia Segreti

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