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Editor in chief: Angelo Scorza
23/04/19 12:46

VTP changed helms and closed 2018 recording over 4 million profit

Fabrizio Spagna, President at Veneto Sviluppo, replaces outgoing Gianni Mion, while passengers grow higher despite current restrictions

Despite current restrictions to enter the lagoon and cruises still uncertain future in town, VTP (Venezia Terminal Passeggeri), managing Venice cruise terminal, recorded positive 2018 year-end figures, in terms of passengers handling and financial results.

According to local press, VTP's shareholders approved 2018 financial statement allocating 4.3 million Euro net profit, versus 9% passengers-handling growth, despite - as confirmed by VTP's outgoing President, Gianni Mion - the enduring restrictions which hampered the terminal's productivity. Maximum 96,000 GT cap to enter Venice lagoon, as voluntarily ordered by cruise companies, and the so called algorithm by which Harbour's Master regulates ships entrance in the Lagoon.

VTP's board acknowledged Mion resignation appointing as new president Frabrizio Spagna, President of Veneto Sviluppo, holding company of Veneto region, among major VTP's  shareholders.

The terminal operator is 53% controlled by APVS, whose 51% shareholder is Veneto Sviluppo.

While APVS' 48% shares is held by Venezia Investimenti, especially established by Costa Crociere, MSC Crociere and Royal Caribbean, while the left 1% is controlled by AdSP of Northern Adriatic.

VTP's left equity is equally split between SAVE and Finpax (the latter controlled by the same company participating in Venezia Investimenti), with 22.18% each, while Venice Chamber of Commerce controls the left 2.69%.

Pursuant to current shareholders agreement regulating the governance, Veneto Sviluppo is entitled to appoint VTP's President, while the corporations must appoint the General Director (currently Galliano Di Marco).

Furthermore, Venice Major, Luigi Bugnaro, announced having joined VTP's shares through Città Metropolitana, while the Region's financial group still holds an option to sell their shares in APVS to private companies: deadline was set in November 2018 but subsequently expanded to March 2021.


TAG : Ports