Bari, Italy (PortSEurope) May 3, 2021 – The Management Committee of Autorita’ di Sistema Portuale del Mare Adriatico Meridionale (AdSP – Southern Adriatic Sea Port Authority), which met yesterday, unanimously approved the Entity’s 2020 Final Budget, deeming it sound and solid, despite the pandemic having significantly reduced the Entity’s revenue income. For over a year, the AdSP has been dealing with the total suspension of
cruise activities, a significant reduction in the movement of people and vehicles on ferries, as well as the numerous measures adopted to support operators (postponement of payments of state property fees and port rights). Furthermore, in March 2020, at the outbreak of the pandemic, in compliance with the provisions of the law that provide for support to the port economy, the Authority had ordered significant reductions in fees for over 90 concessionaires in the ports of the system and subjects authorized to provide temporary work to port companies, and a contribution of 90 euros, for each worker, in relation to each working day less in 2020, This series of factors led to a loss of revenue in the body’s coffers for over 5 million euros. The AdSP has adopted a stringent policy of containment and rationalization of expenditure which has made it possible to close the management of an exceptionally difficult year in balance, with a positive balance of the current portion of 139,000 euros, deriving from 19.701 million euros of current receipts and 19.561 million euros of current expenses. The public finance objectives envisaged by the provisions of national law were therefore achieved, through the containment of the level of costs for the purchase of goods and services below the average for the three-year period 2016/2017/2018. “We recorded a positive gross operating margin of 542,000 euros”, commented port chairman Ugo Patroni Griffi, “demonstrating the efficiency of our management vision. A winning approach that will allow us to look to the coming months with growing confidence”. “Especially in this historical moment, we have the duty to produce wealth to be allocated to new investments, to effectively help rekindle the engine of the economy, offering new opportunities to economic operators, gripped by an epochal crisis”, he added. Despite the difficulties, it was also able to commit capital expenditures for 17 million euros, as part of the energetic infrastructure improvement action of the 5 ports of the system. Specifically, the main accounting balances are: current account financial surplus: € 139,000;total administrative surplus: 63.4 million (including restricted funds for already planned works);free administration surplus: 38 million;shareholders’ equity 77.3 million;liquidity: 93 million. The operating result therefore ensures the possibility of allocating the free surplus of 38 million to further infrastructural works which are not yet financed at the moment. Copyright (C) PortSEurope. All Rights Reserved. 2021.