Rather than an ideological issue - left wings or right wings - what really matters in the alternation between governments, the frequent switches of exponents from one party to another, and changes in alliances. In this scenario, LPT companies operate in an environment that makes it complex to define a stable, long-term vision.
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The economic performance seems to confirm a simple fact, but often overlooked: the policy weighs and howalso on the financial statements. But more than an ideological issue – to the left or right – really count are political instabilitythe rates of covenants, and the frequent alternation of leadership, both locally and nationally.
To RomeATAC shows a loss progressively reduced: from -433 million during the administration of Ignazio Marino (PD)to -134 million Virginia Raggi (M5S)up to -85 million under the current mayor Roberto Gualtieri (PD).
In Naples, ANM moved from a deficit of €65 million under Luigi De Magistris (left-wing civic list) to a profit of nearly €5 million under Gaetano Manfredi (centre-left).
To Turin, GTT registers a turnaround: after loss after loss with Piero Fassino (PD) and Chiara Appendino (M5S), respectively -64 million and -104 millioncomes in a useful Stefano Lo Russo (PD) €609mila.
Conversely, companies historically considered solid have shown signs of decline: in Milan, ATM moved from a profit of €+33.7 million under Giuliano Pisapia (SEL) to a cumulative deficit of €-94 million under Giuseppe Sala (PD). In Bologna, TPER dropped from €+47.7 million under Virginio Merola (PD) to €+5 million under Matteo Lepore (PD).
Other cases highlight stability, as CTM Cagliarithat remains useful with Massimo Zedda (SEL) and Paul Truzzu (FdI)even with a reduction of the result. Or Trieste Trasportiin the active with both Roberto Cosolini (PD) with Roberto Dipiazza (FI-centre-right).
Cumulative Net Income Ranking – Publicly Owned LPT Companies by Mayoral Term (2014–2023)
This ranking was created by ordering the cumulative net results of local public transport (LPT) companies under full public ownership, categorised by mayor, term in office, and political alignment. The aim is to provide a financial reading of the administrative terms during which companies closed the financial year in surplus or deficit, without expressing political or value-based judgments.
Top of the list:
- Virginio Merola – TPER, Bologna (2011-2021) – centre-left → +47.7 million
- Giuliano Pisapia – ATM, Milan (2011-2016) – centre-left → +33.7 million
- Roberto Dipiazza – Trieste Trasporti, Trieste (2016-2021) – the centre-right → +30.9 million
- Roberto Cosolini – Trieste Trasporti, Trieste (2011-2016) – centre-left → +28.9 million
- Massimo Zedda – CTM Cagliari (2011-2019) – centre-left → +19.7 million
- Alessandro Andreatta – Trentino Trasporti, Trento (2009-2020) – centre-left → +6.1 million
- Matthew Lepore – PIVOT, Bologna (2021–in progress) – centre-left → +5 million
- Gaetano Manfredi – ANM, Naples (2021–in progress) – centre-left → +4.7 million
- Roberto Lagalla – AMAT, Palermo (2022–in progress) – the centre-right → +1.6 million
- Marco Bucci – AMT, Genoa (2017–current) – the centre-right → about 1 million
- Stefano Lo Russo – GTT, Torino (2021–in progress) – centre-left → less than 1 million
- Marco Doria – AMT Genova (2012-2017) – centre-left → less than 1 million
- Franco Ianeselli – Trentino Trasporti, Trento (2020–ongoing) – centre-left → less than 1 million
Bottom of the list – most significant deficits:
- Chiara Appendino – GTT, Torino (2016-2021) – M5S → -104,6 million
- Giuseppe Sala – ATM, Milan (2016–ongoing) – centre-left → -94,5 million
- Roberto Gualtieri – ATAC, Rome (2021–in progress) – centre-left → -84,7 million
- Leoluca Orlando – AMAT, Palermo (2012-2022) – centre-left → in addition -76 million
- Luigi De Magistris – ANM, Naples (2011-2021) – centre-left → in addition -64 million
- Virginia-Ray – ATAC, Rome (2016-2021) – M5S → -133,8 million
- Ignazio Marino – ATAC, Rome (2013-2015) – centre-left → -433,2 million
Note: some mayoral terms may overlap due to differing dates of assumption and termination of office.
Elaboration Basco&T Consulting on data extracted from public budgets 2014-2023 (Bureau Van Dijk) and OpenBilanci data. OpenBilanci.
notes:
The democrats of the left: the party dissolved in 2007
SEL (Left Ecology Freedom): the party dissolved in 2016; in 2017 adheres to the ITALIAN LEFT
The federation of the Left: the party dissolved in 2015
The people of Freedom: become a FORCE in ITALY at the end of 2013
Italy of Values: the first coalition of csx and is today an integral part of a coalition of the centre-right with Us Moderate
To complete the picture, it is useful to also consider national governments and the succession of Ministers of Infrastructure and Transport (MIT) from 2013 to 2023, which ran in parallel with the local administrations included in this analysis. At the national level as well, MIT leadership had significant impact, with varying approaches:
- Maurizio Lupi (PdL/NCD) in the governments Letta and Renzi (2013-2015),
- Graziano Delrio (PD) in the government Renzi and Gentiloni (2015-2018),
- Danilo Toninelli (M5S) in the first government Count (2018-2019),
- Paola De Micheli (PD) in the second government, Conte (2019-2021),
- Enrico Giovannini (independent) in the government Dragons (2021-2022),
- Matteo Salvini (League) in the government Melons (by 2022).
Local public transport in Italy suffers less from political ideology and more from instability and discontinuity. Transport companies require long-term vision, consistent funding and strategy, and governance that is less vulnerable to electoral cycles. Public mobility is social infrastructure—not a political battleground.
Notes: This analysis offers a partial reading of the financial performance of LPT companies. A more complete assessment would require consideration of additional indicators, such as service quality and investments, as well as external factors and extraordinary events (e.g., the pandemic, energy crises, etc.) that may have influenced financial results regardless of the administrations in office.
In a recent discussion we have analyzed the situation of the Italian companies to local public transport, providing a the ranking for the sales.
