Post a Comment Print Share on Facebook
Featured Bruselas Audiencia Nacional Italia Pedro Sánchez IBEX 35

ACS calculates that the Supreme Court ruling on Abertis will have a negative impact on its accounts of 14.5 million

MADRID, 30 Ene.

- 1 reads.

ACS calculates that the Supreme Court ruling on Abertis will have a negative impact on its accounts of 14.5 million

MADRID, 30 Ene. (EUROPA PRESS) -

ACS has communicated this Tuesday to the National Securities Market Commission (CNMV) that the ruling of the Supreme Court (TS) on Abertis will have a negative impact of 14.5 million euros on its consolidated accounts and, therefore, "it is immaterial and will not affect your results.

The multinational chaired by Florentino Pérez, which controls 50% of the capital of Abertis, has spoken in relation to the Supreme Court ruling, which resolves the appeal by Acesa, a subsidiary of Abertis, regarding the AP-7 agreement.

ACS shares plummeted this Monday by nearly 10% on the stock market after the Supreme Court rejected Abertis' claim to the State for 4,000 million euros in relation to the lane expansion works carried out on the AP-toll highway. 7 in 2006.

Specifically, ACS shares recorded a drop of 9.99% at the close of trading - the largest drop in the last decade in a single day -, also reaching the lows of last November.

For its part, Abertis also informed the CNMV this Tuesday that it is studying challenging the Supreme Court's ruling and calculates that the ruling, in relation to traffic compensation, represents a net accounting loss of provisions of around 250 million euros.

Likewise, it calculates that the Supreme Court's ruling represents a net cash income of about 65 million euros, as the Supreme Court recognizes Abertis' right to be compensated for certain complementary investments.

However, taking into account other reversals of provisions and extraordinary income, the net impact of the ruling on Abertis' results in 2023 "will be only about 29 million euros."

In any case, the company has assured that it continues to focus on the execution of its global growth strategy, with the support of its shareholders ACS and Mundys.

After the concession period expired on August 31, 2021, the Council of Ministers adopted an agreement in February 2022 to compensate 1,070 million euros for the works carried out, something that was challenged by Acesa, Abertis' concessionaire.