THE SETA SHAREHOLDERS’ MEETING HAS APPROVED THE 2023 BUDGET AND APPOINTED THE BOARD OF DIRECTORS FOR THE THREE-YEAR PERIOD 2024-2026 – All current members of the Board of Directors have been confirmed in their respective roles. The 2023 financial year ended in substantial economic balance (+61,503 euros), passengers were 73 million (+15.3% compared to 2022), 82 new vehicles entered service, production value attested to 115.6 million euros. Investments made in buses, technologies, infrastructure and support services for over 33 million euros. The Seta shareholders’ meeting proceeded with the renewal of the Board of Directors and the approval of the 2023 Financial Statements. Even in a national context that has been affected by some strong critical issues for some time, the company that manages the public road transport service in the provinces of Modena, Reggio Emilia and Piacenza confirms its economic balance, financial solidity and a consistent investment plan .
SETA BOARD OF DIRECTORS: ALL CURRENT MEMBERS CONFIRMED – All the current members of the company’s administrative body were confirmed with a unanimous vote in their respective roles and will therefore remain operational for the three-year period 2024-2026. In particular, the shareholders first ratified the appointment of the directors Alberto Cirelli and Riccardo Roat (respectively: President and CEO) already co-opted by the Board of Directors in September and November 2023, after which the appointment of the company’s corporate bodies was approved. The Modena public bodies have indicated Alberto Cirelli as director who, in compliance with the provisions of the Statute, maintains the position of President of the company. The other two publicly appointed members of the Board of Directors are Federico Parmeggiani (representing the local authorities of Reggio Emilia) and Dario Meli (representing the Municipality of Piacenza). The Board of Directors of Seta is completed by the two members indicated by the industrial partner HERM-Holding Emilia-Romagna Mobilità Srl, in the persons of Giuseppina Gualtieri (President and CEO of Tper Spa) and Riccardo Roat: the latter was appointed CEO di Seta during a meeting of the Board of Directors held immediately after the shareholders’ meeting. The shareholders’ meeting also appointed the members of the Board of Statutory Auditors: Dr. was appointed as president of the internal supervisory body. Sebastiano Cavalli, the members as effective auditors are the lawyer. Valentino Di Leva and Dr. Valerio Fantini. The alternate auditors are Dr. Federico Bacchiega and Dr. Monica Manzini.
THE NUMBERS OF THE 2023 FINANCIAL STATEMENT – The budget proposal for the 2023 financial year formulated by the Board of Directors was approved by the shareholders unanimously. The final balance highlights a net profit of 61,503 euroso, which was entirely allocated to a reserve to strengthen the company’s assets. In the three provincial basins of Modena, Reggio Emilia and Piacenza, passengers transported – measured according to the regional coefficient method – totaled 73 million, a significant recovery compared to 2022 (+15.3%). In detail, in Modena there were 31,735,541 passengers (+15.3% compared to 2022), in Reggio Emilia 24,824,941 (+14.7%) and in Piacenza 16,51,148 (+16.1%).
“In 2023 the value of production stood at 115.6 million euros – he declares Riccardo Roat, CEO of Seta – with revenues from the sale of tickets and season tickets amounting to 31 million euros, up compared to 2022 (+15.2%)”. In 2023, collections from sanctions exceeded 2 million euros. In 2023 Seta put 82 new buses into service and carried out overall investments (in means, technologies and support infrastructures) for over 33 million euros. The important fleet renewal plan therefore continued in 2023, allowing the company to take a significant step forward in the process of improving the quality, safety and environmental sustainability standards of public transport circulating in the three provincial basins managed. In this sense, in 2023 all the milestones foreseen for the interventions financed by the Pnrr-Next generation EU were also respected, with which 39 vehicles (including the related refueling/charging systems) with zero environmental impact were purchased: 12 buses hydrogen for the Modena urban network e 27 full electric buses for those of Reggio Emilia and Piacenza. The first nine vehicles (3 for each capital) will be delivered to Seta by the end of 2024; the remaining 30 will be available by June 2026.
On the technological innovation front, the company strategy was also confirmed in 2023, focused on digitalisation to support users to improve information, accessibility, use and quality of the service provided. Hence the development of high-tech systems such as EMV (Europay Mastercard Visa), which allows you to purchase the ticket on board with a card, contactless debit card, already present since 2021 on all Seta urban vehicles and of which the extension has begun on all extra-urban ones (then completed in the first months of 2024). The investments also concerned the updating of the on-board AVM systems for monitoring the fleet, the extension of video surveillance to part of the extra-urban services and the development of integrated digital platforms for mobility.
Alberto Cirelli, President of Seta, comments on the current situation of the company as follows: “In these first months I have been able to see that within Seta there are great skills and professionalism: the company is made up of women and men who work every day with dedication and industriousness, to guarantee citizens’ right to mobility and to achieve company objectives. The commitment made by all our staff deserves heartfelt thanks. Seta also confirms itself as a solid company, capable of closing the balance sheet in positive territory for the eleventh consecutive year. However, this cannot be enough to resolve the obvious critical issues which – due to inadequate national policies – strongly influence the activity of public transport companies. I am referring, in particular, to the insufficiency of resources of the National Transport Fund, which combined with its lack of indexation is causing – and will increasingly cause – growing difficulties that risk becoming insurmountable. Public transport is an essential service for our communities and must be adequately financed, both to guarantee and strengthen ordinary management and for the necessary improvement of workers’ remuneration levels”.
