The Vallvidrera and Cadí tunnels increase profit by 93%

by time news

BarcelonaThe concessionaire of the Vallvidrera and Cadí tunnels increased its profits by 93% in 2021. The subsidiary company of Abertis earned a total of 14.3 million euros during the last year, compared to 7, 4 million that it achieved in 2020. Despite this strong increase, the concessionaire remains far from the pre-pandemic figures, when they earned 21.7 million euros.

Túnels de Barcelona i Cadí, Concessionaria de la Generalitat, the official name of the company, also increased its income. Last year the company invoiced 50.5 million euros, which represents an increase of 21% compared to the 41.6 million it received during the previous year. This figure, however, is again lower than before the impact of covid, when the concessionaire managed to enter 63.5 million euros.

In this way, the financial profitability of the company rose to 20% after falling to 11% in 2020. However, and as in all other indicators, this last year they did not go reach the pre-pandemic levels that stood at 32%. This decline was widespread in all concessionaires due to the outbreak of the pandemic and the drop in mobility that it entailed. For this year, however, they are already expected to return to levels similar to 2019.

The company is owned by the Abertis group, which tried to acquire all of it in 2019, and by the French bank Crédit Agricole, which bought 49.9% of its shares in 2020 from the Ardian fund. Abertis, for its part, is controlled by the Spanish construction company ACS, chaired by Florentino Pérez, and the Italian Atlantia, of the Benetton family.

The company manages a total of 46.4 kilometers of road (29.7 kilometers of the Cadí section and 16.7 kilometers in Barcelona). The concession was granted ten years ago by the government of Artur Mas, who, with the economic crisis, decided to privatize the management of the two infrastructures while retaining ownership. This sale took place for a total of 430 million euros, of which 309 million was collected at the time and the rest will be collected when the contract expires in 2037.

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