2014-EU-TM-0588-W Medtis 2 Interim Evaluation Report V2.2
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Annual Report 2012
2012 ANNUAL REPORT www.autostrade.it L REPORT A NNU A 2012 CONTENTS 1. Highlights and overview 3 2. 3. 4. Introduction Report on operations Financial statements and notes 11 17 77 5. 6. 7. Reports Key indicators extracted Shareholders’ resolutions from the most recent financial statements of subsidiaries, principal associates and joint ven- tures, according to art. 2497, paragraphs 3 and 4 of the Italian Civil Code 185 193 205 HIGHLIGHTS 1. AND OVERVIEW 1.1 Corporate bodies 4 1.2 Financial and operating highlights 5 1.3 Group structure 6 1.4 Key performance indicators for Autostrade per l’Italia’s principal subsidiaries 7 1.5 Map of planned upgrades and modernisation of the network operated under concession in Italy 8 3 3 1.1 Corporate bodies BOARD OF DIRECTORS IN OFFICE UNTIL APPROVAL OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2012 CHAIRMAN Fabio Cerchiai CEO Giovanni Castellucci DIRECTORS Valerio Bellamoli Stefano Cao Giuseppe Piaggio Roberto Pistorelli Giovanni Quaglia (*) Antonino Turicchi (**) SECRETARY Andrea Grillo BOARD OF STATUTORY AUDITORS ELECTED FOR THE THREE-YEAR PERIOD 2012-2014 CHAIRMAN Alessandro Trotter AUDITORS Gaetana Celico Giandomenico Genta Antonio Mastrapasqua Stefano Meroi ALTERNATE AUDITORS Salvatore Benedetto Francesco Mariano Bonifacio INDEPENDENT AUDITORS FOR THE PERIOD 2012-2020 Deloitte & Touche SpA (*) Prof. Giovanni Quaglia resigned with effect from 31 December 2012. (**) Antonino Turicchi was co-opted on to the Board of Directors on 18 January 2013. 4 1. Highlights and overview 1.2 Financial -
Public-Private Partnerships Financed by the European Investment Bank from 1990 to 2020
EUROPEAN PPP EXPERTISE CENTRE Public-private partnerships financed by the European Investment Bank from 1990 to 2020 March 2021 Public-private partnerships financed by the European Investment Bank from 1990 to 2020 March 2021 Terms of Use of this Publication The European PPP Expertise Centre (EPEC) is part of the Advisory Services of the European Investment Bank (EIB). It is an initiative that also involves the European Commission, Member States of the EU, Candidate States and certain other States. For more information about EPEC and its membership, please visit www.eib.org/epec. The findings, analyses, interpretations and conclusions contained in this publication do not necessarily reflect the views or policies of the EIB or any other EPEC member. No EPEC member, including the EIB, accepts any responsibility for the accuracy of the information contained in this publication or any liability for any consequences arising from its use. Reliance on the information provided in this publication is therefore at the sole risk of the user. EPEC authorises the users of this publication to access, download, display, reproduce and print its content subject to the following conditions: (i) when using the content of this document, users should attribute the source of the material and (ii) under no circumstances should there be commercial exploitation of this document or its content. Purpose and Methodology This report is part of EPEC’s work on monitoring developments in the public-private partnership (PPP) market. It is intended to provide an overview of the role played by the EIB in financing PPP projects inside and outside of Europe since 1990. -
T12 Traffic Management.Pdf
Page 2 / 99 Submitted by: Task 12 group leader, Paul van der Kroon Prepared by: Group leader: Paul van der Kroon (The Netherlands) Group members: Austria Markus Bartsch , Sigrid Pirkelbauer , Michael Schneider Cyprus Alexis Avgoustis Denmark Finn Krenk Finland Petteri Portaankorva France Christophe Desnouailles Germany Georg Stern Italy Sandro La Monica, Pier Paolo Cartolano The Netherlands Bert Helleman Henk Jan de Haan Maarten Amelink (supporting consultant) Sweden Maria Nichan i Henrik Sundquist Bjorn Carselid Switzerland Gerhard Petersen / Markus Bartsch United Kingdom David Stones Nicholas Taylor (supporting consultant) Felicity Keen Overview meetings: 3–4 June 2009 Utrecht, the Netherlands 24 –25 September 2009 Stockho lm, Sweden 19 –21 January 2010 Paris, France (joint meeting with task group 11) 19 –20 May 2010 Frankfurt, Germany 6–7 October 2010 Vienna, Austria 10 –11 February 2011 Rome, Italy 22 –23 June 2011 Helsinki, Finland 3–4 November 2011 Bern, Switzerland 22 –23 February 2012 Copenhagen, Denmark Edited and published by: CEDR's Secretariat General Approved and amended by: CEDR's EXECUTIVE BOARD on 29 June 2012 Addressed to: CEDR's GOVERNING BOARD on 27 September 2012 This document expresses solely the current view of CEDR. Readers should not consider these views to be statements of the official position of CEDR's member states. ISBN : 979-10-93321-00-4 Traffic management to reduce congestion Page 3 / 99 This report is: FOR DECISION 1. Executive summary Purpose of the paper Congestion on the European road network has increased significantly over the past decade. This is the result of an increase in car ownership and car use in most European countries. -
URSA MAJOR Evaluation Report
URSA MAJOR Evaluation Report Project reference: I.208.S.258.O1 Version: 1.0 www.its-platform.eu . Document Information Authors NAME ORGANISATION Luca Studer Politecnico di Milano – Mobility and Transport Laboratory Giovanna Marchionni Politecnico di Milano – Mobility and Transport Laboratory Marco Ponti Politecnico di Milano – Mobility and Transport Laboratory Valeria Paglino Politecnico di Milano – Mobility and Transport Laboratory Reiner Dölger Ministerium für Wirtschaft, Verkehr, Landwirtschaft und Weinbau Rheinland-Pfalz Revision NAME ORGANISATION Paola Mainardi Sina S.p.A. Stephanie Kleine Ministerium für Wirtschaft, Verkehr, Landwirtschaft und Weinbau Rheinland-Pfalz Henk Taale Rijkswaterstaat Water, Traffic and Environment URSA MAJOR Version 1.0 2/97 Table of Contents Document Information .................................................................................................................. 2 Table of Contents .......................................................................................................................... 3 List of Abbreviations/Acronyms .................................................................................................. 5 1 Executive Summary ............................................................................................................... 7 1.1 Impact on Traffic Efficiency ........................................................................................... 7 1.2 Impact on Safety .......................................................................................................... -
W&C Standard Template
BASE PROSPECTUS SIAS S.p.A. (incorporated with limited liability under the laws of the Republic of Italy) €2,000,000,000 Euro Medium Term Note Programme Under the €2,000,000,000 Euro Medium Term Note Programme (the “Programme”) described in this Base Prospectus, SIAS S.p.A. (“SIAS” or the “Issuer”), subject to all applicable legal and regulatory requirements, may from time to time issue notes in bearer form and in any currency agreed between the Issuer and the relevant Dealer(s) (as defined below) (the “Notes”). The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed €2,000,000,000 (or its equivalent in other currencies at the date of issue), save that the maximum aggregate principal amount may be increased from time to time, subject to compliance with the relevant provisions of the Programme and applicable laws and regulations in force from time to time. Notes will be issued in Series and, in the case of Secured Notes (as defined below), will be subject to, and have the benefit of, (i) an Italian law-governed intercreditor agreement dated 8 October 2010 (as amended or supplemented from time to time, the “Intercreditor Agreement”) between, inter alios, the Issuer, Mediobanca – Banca di Credito Finanziario S.p.A. as intercreditor agent (the “Intercreditor Agent”), Deutsche Trustee Company Limited as trustee (the “Trustee”) and the other Secured Creditors (as defined below) and (ii) one or more Italian law-governed deeds of pledge over the Issuer’s receivables and monetary claims (crediti pecuniari) arising pursuant to the Intercompany Loans (as defined below) granted out of the proceeds of the Secured Notes (the “Deeds of Pledge”) to be entered into by the Issuer in favour of the holders of the relevant Series of Secured Notes and the Trustee on or about the date of issue of each Series of Secured Notes. -
Annual Report of the Cohesion Fund 1996
% ζ·:· j-r ''■'■" European Union • 2· Regional Policy ι· * Ι and Cohesion ··· Ι ·-·-· Annual report of the Cohesion Fund 1996 European Commission European Union Regional Policy and Cohesion Annual report of the Cohesion Fund 1996 European Commission PREFACE The present annual report on the activities of the Cohesion Fund covers the calendar year 1996. It has, however, been necessary to include some remarks on activities in earlier years as well as comments on planned measures for the future in order to give the reader the full picture of the current affairs of the Fund. The reporting format is largely unchanged from previous reports and reflects the detailed requirements of the Annex to Annex II to the Cohesion Fund Regulation. Nevertheless, comments made by the European Parliament, the Economic and Social Committee and the Committee of the Regions on earlier reports have been duly taken into account and adjustments made in the presentation. In particular attention has been given to a detailed explanation of how the conditionality principle has been implemented and to the Commission Decision on information and publicity measures. The specific requests for a section on ultra-peripheral regions and for a developed section on evaluation have also been met. The report fulfils the legal requirements of the Cohesion Fund Regulation. It is hoped that it will also serve as a useful reference for all who are interested in the promotion and furtherance of the economic and social cohesion of the Union. Annual report of the Cohesion Fund 1996 EXECUTIVE SUMMARY Economic and Social Cohesion is one of the main objectives of the Treaty on European Union. -
2015 Annual Report CONTENTS
2015 Annual Report CONTENTS 01 Album 18 Profile 19 Message from the Chairman and CEO 20 Corporate governance 21 Corporate management structures 22 New directions and strategy 25 Stock market and shareholder base 28 Sustainable development 41 CONCESSIONS 44 VINCI Autoroutes 56 VINCI Highways 62 VINCI Airports 70 VINCI Railways 72 VINCI Stadium 74 Other public amenities 77 CONTRACTING 78 VINCI Energies 90 Eurovia 100 VINCI Construction 114 VINCI Immobilier 117 GENERAL & FINANCIAL ELEMENTS 118 Report of the Board of Directors 216 Report of the Chairman of the Board on corporate governance and internal control procedures 222 Report of the Vice-Chairman and Senior Director of the Board of Directors 224 Consolidated financial statements 303 Parent company financial statements 320 Special report of the Statutory Auditors on regulated agreements and commitments 322 Persons responsible for the registration document 324 Cross-reference table for the registration document 326 Cross-reference table for the annual financial report 327 Cross-reference table for workforce-related, environmental and social information Cover photo – The Arturo Merino Benitez Airport in Santiago de Chile will double its capacity to 30 million passengers by 2020. Key data Key data Group Revenue (1) 280,000 €38.5 billion projects (2) Market capitalisation at 31 December 2015 185,452 €34.8 billion employees worldwide (3) Net income attributable to owners of the parent €2,046 million Revenue (1) Ebitda (4) Operating income (in €m) (in €m and as a % of revenue (1) ) from ordinary -
Ppps Financed by the European Investment Bank from 1990 to 2017 February 2018 Terms of Use of This Report
PPPs financed by the European Investment Bank from 1990 to 2017 February 2018 Terms of Use of this Report The European PPP Expertise Centre (EPEC) is part of the Advisory Services of the European Investment Bank (EIB). It is an initiative that also involves the European Commission, Member States of the EU, Candidate States and certain other states. For more information about EPEC and its membership, please visit www.eib.org/epec. This publication has been prepared to contribute to and stimulate discussions on public- private partnerships (PPPs) as well as to foster the diffusion of best practice in this area. The findings, analyses, interpretations and conclusions contained in this publication do not necessarily reflect the views or policies of the EIB or any other EPEC member. No EPEC member, including the EIB, accepts any responsibility for the accuracy of the information contained in this publication or any liability for any consequences arising from its use. Reliance on the information provided in this publication is therefore at the sole risk of the user. EPEC authorises the users of this publication to access, download, display, reproduce and print its content subject to the following conditions: (i) when using the content of this document, users should attribute the source of the material and (ii) under no circumstances should there be commercial exploitation of this document or its content. Purpose and Methodology This report is part of EPEC’s work on monitoring developments in the PPP market. It is intended to provide an overview of the role played by the EIB in financing PPP projects inside and outside Europe since 1990. -
Base Prospectus Sias
BASE PROSPECTUS SIAS S.p.A. (incorporated with limited liability under the laws of the Republic of Italy) €2,000,000,000 Euro Medium Term Note Programme Under the €2,000,000,000 Euro Medium Term Note Programme (the “Programme”) described in this Base Prospectus, SIAS S.p.A. (“SIAS” or the “Issuer”), subject to all applicable legal and regulatory requirements, may from time to time issue notes in bearer form and in any currency agreed between the Issuer and the relevant Dealer(s) (as defined below) (the “Notes”). The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed €2,000,000,000 (or its equivalent in other currencies at the date of issue), save that the maximum aggregate principal amount may be increased from time to time, subject to compliance with the relevant provisions of the Programme and applicable laws and regulations in force from time to time. Notes will be issued in Series and, in the case of Secured Notes (as defined below), will be subject to, and have the benefit of, (i) an Italian law-governed intercreditor agreement dated 8 October 2010 (as amended or supplemented from time to time, the “Intercreditor Agreement”) between, inter alios, the Issuer, Mediobanca – Banca di Credito Finanziario S.p.A. as intercreditor agent (the “Intercreditor Agent”), Deutsche Trustee Company Limited as trustee (the “Trustee”) and the other Secured Creditors (as defined below) and (ii) one or more Italian law-governed deeds of pledge over the Issuer’s receivables and monetary claims (crediti pecuniari) arising pursuant to the Intercompany Loans (as defined below) granted out of the proceeds of the Secured Notes (the “Deeds of Pledge”) to be entered into by the Issuer in favour of the holders of the relevant Series of Secured Notes and the Trustee on or about the date of issue of each Series of Secured Notes. -
Of Europe Beautiful
Beautiful ROADS of Europe I Beautiful ROADS of Europe Edited by Donaldas Andziulis Ex Arte | 2013 Vilnius II BEAUTIFUL ROADS OF EUROPE . Gritsun E hoto: hoto: UDK 625.7(4)(084) P Be28 Executive editor / compiler Donaldas Andziulis Editorial assistants Jayde Will, Marta Kuzmickaitė Designers Birutė Vilutienė, Ieva Kuzmienė Prepress Anatolij Kostrov Proof-reading Aingeal Flanagan All images in this book have been reproduced with the knowledge and prior consent of the individuals and organisations concerned. Every effort has been made to ensure that the credits accurately comply with the information supplied. © Ex Arte, 2013 ISBN 978-609-8010-24-4 First edition. Printed in Lithuania. The publishing of this book ‘Beautiful Roads of Europe’ is the name of this book. was funded by Here, the word ‘beautiful’ encompasses many things: aesthetic enjoyment, fantastic architecture, technical mastery, workmanship, road safety, and expanded trade. Have a pleasant journey on the beautiful roads of Europe! MA S I PR hoto: hoto: P Contents Roads of Europe – Benefits and challenges 6 NATIONAL ROAD NETWORKS Austria 12 Belgium 16 Cyprus 24 Denmark 28 Estonia 32 Finland 36 France 40 Germany 44 Greece 48 Hungary 52 Iceland 56 Ireland 60 Italy 64 Latvia 68 Lithuania 72 Luxembourg 76 Malta 80 Netherlands 84 Norway 88 Poland 92 Portugal 96 Romania 100 Slovenia 104 Spain 108 Sweden 112 Switzerland 116 United Kingdom 120 4 BEAUTIFUL ROADS OF EUROPE 5 Roads of Europe – Benefits and challenges Roads have been the lifeblood of our society since ancient times, whether for travel, trade, exploration, or conquest. The Silk Road from China to Europe, which is over 6,000 km long, has existed for more than 2,000 years. -
Brisa Profile Brisa 2009 INTRODUCTION
Annual Report Individual TABLE OF CONTENTS INTRODUCTION 01. Brisa 2009 02 Brisa Profile 03 Chairman’s Statement 04 Main indicators 06 Macro economic overview 07 BRISA CONCESSION 02. Brisa Concession 8 03. FINANCIAL REPORT 12 04. CORPORATE GOVERNANCE 14 0. Table of Contents 0. Table FINAL NOTE 40 05. 09 | 06. INDIVIDUAL FINANCIAL STATEMENTS AND NOTES 41 | Annual Report 1 07. TRAFFIC STATISTICS 189 01. INTRODUCTION | Brisa 2009 | 1. JANUARY 6. JUNE Consortium led by Brisa (30%) wins the Baixo Tejo Brisa enters a promissory purchase/sale contract for 10% Concession tender. This concession is to be located in of the share capital of Douro Litoral Concession. The sale Lisbon’s metropolitan area and will have total length of 68 price was fixed at nominal value. As result, Brisa’s stake in km, 17 km of which subject to tolls. It was awarded for 30 this concession was reduced to 45%. years. Estimated investment is of 278 million euros. 7. JULY 2. FEBRUARY Brisa appoints Dr. Daniel Amaral as its first Ombudsman, Consortium in which Brisa holds a 15% stake was following the entry into force of a new Code of Ethics. awarded Litoral Oeste Concession, valid for a period of 30 years. The concession will be located on the west (“Oeste”) region and will have a total length of 112 km, 8. SEPTEMBER 19 km subject to tolls. According to respective proposal, Improvement works and pavement reinforcement of the investment will total 459 million euros. platform of viaduct over River Trancão, on the sub-stretch Lisbon / Alverca of the A1 Motorway are concluded. -
Rijeka-Zagreb Motorway Construction Starts At
HRVATSKA UDRUGA KONCESIONARA ZA AUTOCESTE S NAPLATOM CESTARINE CROATIAN ASSOCIATION OF TOLL MOTORWAYS CONCESSIONAIRES Bilten 7. / 2006 RIJEKA-ZAGREB MOTORWAY Financing agreement between the Autocesta Rijeka - Zagreb d.d. and the European Investment Bank and loan agreement between the Re- public of Croatian and the European Investment Bank On March 9, 2006 the Autocesta Rijeka on and Development (EBRD), according to - Zagreb d.d. (ARZ) and the European Inves- which both Banks participated, each with 50 tment Bank (EIB) signed the financing agree- percent, in the amount required for finan- ment amounting to € 210 million, destined cing the Stage I of this project. for financing the stage IIB of the Rijeka - Za- The Stage IIB, i.e. completion of the Ri- greb motorway, i.e. road widening to full mo- jeka - Zagreb motorway by adding the se- The financing agreement concluded torway profile in the length of 44.26 km from cond pavement on the remaining 44.26 between the European Investment Bank Kikovica to Stara Sušica (Vrbovsko) viaduct. km of the semi-motorway, has been divi- and the Autocesta Rijeka - Zagreb d.d. This € 210 million loan, backed by the gu- ded based on time schedule into 5 secti- was signed by the ARZ Board President arantee issued by the Republic of Croatia, is ons. Individual contracts will be concluded Mr. Jurica Prskalo and the EIB Vice-Pre- to be reimbursed within 25 years, while the for the construction of each such section, sident, Mr. Wolfgang Roth, while the gu- grace period is 5 years. The interest rate is while a separate contract will be conclu- arantee agreement entered into between EURIBOR rate + up to 0.13 percent, with ded for the road and tunnel equipment.