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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. -
DLA Piper. Details of the Member Entities of DLA Piper Are Available on the Website
EUROPEAN PPP REPORT 2009 ACKNOWLEDGEMENTS This Report has been published with particular thanks to: The EPEC Executive and in particular, Livia Dumitrescu, Goetz von Thadden, Mathieu Nemoz and Laura Potten. Those EPEC Members and EIB staff who commented on the country reports. Each of the contributors of a ‘View from a Country’. Line Markert and Mikkel Fritsch from Horten for assistance with the report on Denmark. Andrei Aganimov from Borenius & Kemppinen for assistance with the report on Finland. Maura Capoulas Santos and Alberto Galhardo Simões from Miranda Correia Amendoeira & Associados for assistance with the report on Portugal. Gustaf Reuterskiöld and Malin Cope from DLA Nordic for assistance with the report on Sweden. Infra-News for assistance generally and in particular with the project lists. All those members of DLA Piper who assisted with the preparation of the country reports and finally, Rosemary Bointon, Editor of the Report. Production of Report and Copyright This European PPP Report 2009 ( “Report”) has been produced and edited by DLA Piper*. DLA Piper acknowledges the contribution of the European PPP Expertise Centre (EPEC)** in the preparation of the Report. DLA Piper retains editorial responsibility for the Report. In contributing to the Report neither the European Investment Bank, EPEC, EPEC’s Members, nor any Contributor*** indicates or implies agreement with, or endorsement of, any part of the Report. This document is the copyright of DLA Piper and the Contributors. This document is confidential and personal to you. It is provided to you on the understanding that it is not to be re-used in any way, duplicated or distributed without the written consent of DLA Piper or the relevant Contributor. -
Transport Development Strategy of the Republic of Croatia (2017 – 2030)
Transport Development Strategy of the Republic of Croatia (2017 – 2030) Republic of Croatia MINISTRY OF THE SEA, TRANSPORT AND INFRASTRUCTURE Transport Development Strategy of the Republic of Croatia (2017 - 2030) 2nd Draft April 2017 The project is co-financed by the European Union from the European Regional Development Fund. Republic of Croatia Ministry of the Sea, Transport and Infrastructure I Transport Development Strategy of the Republic of Croatia (2017 – 2030) TABLE OF CONTENTS 1 Introduction ............................................................................................................. 1 1.1 Background on development of a Croatian Comprehensive National Transport Plan .................................................. 1 1.2 Objectives of the Transport Development Strategy (TDS 2016) ............................. 4 1.3 Revision of the TDS (2016) Ex-Ante conditionality .................................................. 4 1.4 Methodology for the development of the TDS (2016) ............................................ 5 2 Analysis .................................................................................................................... 7 2.1 General aspects of transport ................................................................................... 7 2.2 Public transport and zero-emission modes ........................................................... 34 2.3 Rail Transport......................................................................................................... 72 2.4 Road transport -
2019 Annual Report Annual 2019
a force for good. 2019 ANNUAL REPORT ANNUAL 2019 1, cours Ferdinand de Lesseps 92851 Rueil Malmaison Cedex – France Tel.: +33 1 47 16 35 00 Fax: +33 1 47 51 91 02 www.vinci.com VINCI.Group 2019 ANNUAL REPORT VINCI @VINCI CONTENTS 1 P r o l e 2 Album 10 Interview with the Chairman and CEO 12 Corporate governance 14 Direction and strategy 18 Stock market and shareholder base 22 Sustainable development 32 CONCESSIONS 34 VINCI Autoroutes 48 VINCI Airports 62 Other concessions 64 – VINCI Highways 68 – VINCI Railways 70 – VINCI Stadium 72 CONTRACTING 74 VINCI Energies 88 Eurovia 102 VINCI Construction 118 VINCI Immobilier 121 GENERAL & FINANCIAL ELEMENTS 122 Report of the Board of Directors 270 Report of the Lead Director and the Vice-Chairman of the Board of Directors 272 Consolidated nancial statements This universal registration document was filed on 2 March 2020 with the Autorité des Marchés Financiers (AMF, the French securities regulator), as competent authority 349 Parent company nancial statements under Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of the 367 Special report of the Statutory Auditors on said regulation. The universal registration document may be used for the purposes of an offer to the regulated agreements public of securities or the admission of securities to trading on a regulated market if accompanied by a prospectus or securities note as well as a summary of all 368 Persons responsible for the universal registration document amendments, if any, made to the universal registration document. The set of documents thus formed is approved by the AMF in accordance with Regulation (EU) 2017/1129. -
Outlet Centres in Europe
MARKET SURVEY March 2021 Outlet Centres in Europe Market Survey covering all operating and planned Outlet Centres in the European Countries Study within the Scope of ecostra’s Basic Research understanding markets | evaluating risks | discovering chances Preliminary remarks Beginning in the USA and, over the past 25 years, subsequently spreading in Europe as well, a new retail format has been established: the Factory Outlet Centre (FOC) or Designer Outlet Centre (DOC). In the meantime, such a high density of Outlet Centres already exists in some European countries (e.g. Great Britain), that one can certainly speak of market saturation here. Thus, in Great Britain, as in the USA also, a market shakeout is observable among locations of Outlet Centres, whereby the most professional operators, and accordingly suitable locations, win out over less productive concepts or locations with weaknesses. The situation in continental Europe is somehow different. Due what are, to date, extremely restrictive building permission procedures compared to those in the rest of Europe, Germany has only a very few Outlet Centres in relation to the size of this national market. However, there is little doubt that this will change in the medium-term perspective, at least. The kind of emotional argument that often used to take place until just a few years ago has now given way to a much more factual discussion on the advantages and disadvantages of establishing an Outlet Centre. Whereas Germany still shows a lot of potential for new Outlet Centres, Italy has seen a rapid development in the last years, and it’s difficult to discover any “white spots” on the map there. -
Recbae Cons 2014UK.Pdf
CONTENTS I - INTRODUCTION 4 II - BRISA CONCESSION 13 III - OTHER MOTORWAY CONCESSIONS 18 IV - MOTORWAY RELATED SERVICES 24 V - VEHICLE INSPECTIONS 37 VI - OTHER PROJECTS 39 VII - INTERNATIONAL OPERATIONS 41 VIII - CORPORATE ACTIVITY INDICATORS 44 IX - FINANCIAL REPORT 48 X - CORPORATE GOVERNANCE REPORT 62 XI - FINAL NOTE 86 XII - CONSOLIDATED FINANCIAL STATEMENTS AND ATTACHED NOTES 88 XIII - TRAFFIC STATISTICS 169 I - INTRODUCTION Brisa 2014. The Year in Review January - Via Verde opens new shop in Oeiras - The Via Verde system is introduced at Hospital Garcia da Horta, Almada February - The Via Verde system is introduced at São Bento car park (Clube Nacional de Natação), in Lisbon - Brisa renovates the drainage system of Ribeira da Laje viaduct (A5) and Rio Grande da Pipa viaduct (A10) March - Slope maintenance works are carried out on the A1 (Santa Iria da Azóia/Alverca sub-stretch) April - Brisa promotes road safety with students, included in the Semana Braga Capital Jovem da Segurança Rodoviária event (Student Driving Camp) - Brisa's "Ser Solidário" project grants EUR 44 thousand to the welfare centre of Aveiras de Cima and to Make a Wish Foundation - Brisa awards quality prize to service areas May - Via Verde launches customer service App - Mcall wins Gold Trophy awarded by the Portuguese Call Centres Association, for services provided to Via Verde Portugal June - Brisa, Egis and NedMobiel create a joint-venture for mobility - Start up of improvement works at Albergaria/Estarreja sub-stretch (A1) July - Launching of Brisa's new App -
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 .......................................................................................................... -
Atlantia S.P.A
Atlantia S.p.A. (incorporated as a joint stock company in the Republic of Italy) Unconditionally and irrevocably guaranteed by Autostrade per l’Italia S.p.A. €10,000,000,000 Euro Medium Term Note Programme Under this Euro Medium Term Note Programme (the “Programme”), Atlantia S.p.A. (“Atlantia” or the “Issuer”) may, from time to time, subject to compliance with all applicable laws, regulations and directives, issue debt securities in either bearer or registered form (respectively, “Bearer Notes” and “Registered Notes” and, together, the “Notes”) to be unconditionally and irrevocably guaranteed by Autostrade per l’Italia S.p.A. (“Autostrade Italia” or the “Guarantor”), Atlantia’s wholly-owned subsidiary (the “Guarantee”). The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed €10 billion (or the equivalent in other currencies). The Notes may be issued on a continuing basis to one or more of the Dealers defined below or any additional Dealer appointed under the Programme from time to time, which appointment may be for a specific issue or on an ongoing basis (each a “Dealer” and together, the “Dealers”). References in this Offering Circular to the relevant Dealer, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, shall be to all Dealers agreeing to subscribe for such Notes. This Offering Circular is a “base prospectus” in accordance with Article 5.4 of Directive 2003/71/EC (the “Prospectus Directive”) as amended (which includes the amendments made by Directive 2010/73/EU (the “2010 PD Amending Directive”) to the extent that such amendments have been implemented in the relevant Member State of the European Economic Area). -
The Duties of the Swiss Federal Roads Office (FEDRO) 2 Motorways and Construction Sites Further Development of the Motorway Netw
Contents Page The duties of the Swiss Federal Roads Office (FEDRO) 2 Motorways and construction sites Further development of the motorway network 3 Elimination of bottlenecks on the motorway network 4 Classification of motorways 5 The Swiss motorway network 6 Motorway sections scheduled to be opened to traffic between 2009 and 2013 7 Motorway tunnels 8 Gotthard tunnel fire brigade and rescue service 9 Total length by road category 10 2.154 billion Swiss francs for construction, expansion and maintenance 11 Major road works on the motorway network 12 Major maintenance sites on the motorway network in 2009 13 –15 Snow and ice clearance 16 European trunk roads passing through Switzerland 17 Finance Income and expenditure in the roads sector 18 –19 Financing 20 HGV inspection Ripshausen HGV inspection centre 21 Traffic flow and traffic management Traffic flow on Switzerland‘s motorways in 2008 22 Traffic volume on Swiss motorways in 2008 23 Transalpine goods traffic in 2008 24 Trend in traffic jams on the motorway network 25 Development of infrastructure for future traffic management 26 –27 Agglomeration programmes 28 Road traffic and vehicles New legal provisions governing road traffic 29 Making Switzerland‘s roads safer 30 Strict measures to improve the level of road safety 31 Slightly higher number of withdrawn licences in 2008 32 Registration of new road vehicles and technical details for new cars 33 Inventory of vehicles in Switzerland 34 Number of cars per capita in Europe / Switzerland 35 Names and addresses Road traffic departments 36 Cantonal police -
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. -
Annual Report 2020 2
…thanks. And you? Annual Report 2020 2 KEY FIGURES KEY FINANCIAL FIGURES 2016 2017 2018 2019 ∆ % 2020 Output volume (€ mln.) 13,491.03 14,620.89 16,322.88 16,617.97 -7 15,446.61 Revenue (€ mln.) 12,400.46 13,508.72 15,221.83 15,668.57 -6 14,749.74 Order backlog (€ mln.) 14,815.79 16,591.87 16,899.71 17,411.48 5 18,369.02 Employees (FTE) 71,839 72,904 75,460 76,919 -3 74,340 KEY EARNINGS FIGURES 2016 2017 2018 2019 ∆ % 2020 EBITDA (€ mln.) 855.18 834.58 952.60 1,113.30 5 1,174.45 EBITDA margin (% of revenue) 6.9 6.2 6.3 7.1 8.0 EBIT (€ mln.) 424.91 448.36 558.21 602.58 5 630.65 EBIT adjusted (€ mln.)1 397.10 502.90 EBIT margin (% of revenue) 3.4 3.3 3.7 3.8 4.3 EBIT margin adjusted (% of revenue)1 3.2 3.3 EBT (€ mln.) 421.13 421.21 530.78 577.24 6 610.05 Net income (€ mln.) 282.00 292.36 362.78 378.56 5 399.06 Net income after minorities (€ mln.) 277.65 278.91 353.53 371.70 6 395.22 Net income after minorities margin (% of revenue) 2.2 2.1 2.3 2.4 2.7 Earnings per share (€) 2.71 2.72 3.45 3.62 6 3.85 Cash flow from operating activities (€ mln.)2 264.17 1,345.19 788.98 1,075.94 19 1,279.66 ROCE (%) 6.4 6.7 7.6 7.5 7.5 Investments in property, plant and equipment, and in intangible assets (€ mln.) 412.46 457.62 644.99 689.25 -21 544.13 KEY BALANCE SHEET FIGURES 2016 2017 2018 2019 ∆ % 2020 Equity (€ mln.) 3,264.59 3,397.72 3,653.77 3,855.90 7 4,108.22 Equity ratio (%)2 31.5 30.7 31.6 31.5 33.9 Net debt (€ mln.) -449.06 -1,335.04 -1,218.28 -1,143.53 53 -1,747.23 Gearing ratio (%) -13.8 -39.3 -33.3 -29.7 -42.5 Capital employed (€ mln.) 5,258.17 -
2014-EU-TM-0588-W Medtis 2 Interim Evaluation Report V2.2
MedTIS corridor Evaluation Report MedTIS 2 Project reference: 2014-EU-TM-0588-W Project location: France, Italy, Spain, Portugal Version: 2.2 www.its-platform.eu . Document Information Authors NAME ORGANISATION Sara Lefèvre Algoé Floriane Le Garrec Algoé Carlos Pelayo Algoé Bernard Fer ASFA Paola Mainardi SINA S.p.A. Claudio Gombi SINA S.p.A. Davide Poggio Autostrada dei Fiori Carlo Nieri SALT S.p.A. Carlos Fuentes SEOPAN Ines Viegas Transportes, Inovaçao e Sistemas, S. A Distribution DATE VERSION DISSEMINATION 20-12-2019 V2.2 MedTIS SC and EU EIP MedTIS corridor Version 20-12- 2/41 MedTIS 2 Action - 2014-EU-TM-0588-W 2019 Table of Contents Document Information .................................................................................................................. 2 Table of Contents .......................................................................................................................... 3 List of Abbreviations/Acronyms .................................................................................................. 4 1 MedTIS 2 Action presentation ............................................................................................... 5 2 Objectives of the evaluation ................................................................................................. 7 3 Evaluation methodology ....................................................................................................... 8 3.1 Key Performance Indicators .........................................................................................