ATM S.p.A. is a joint-stock company wholly owned by the Municipality of Milan that operates the city's comprehensive public transport system. The company manages 5 metro lines (104 km), 17 tram lines (157 km), 4 trolleybus lines, and 136 bus lines serving Milan and 95 municipalities in the metropolitan area. ATM has expanded internationally, operating the entire Copenhagen metro network since 2008 and launching the first driverless metro in Thessaloniki, Greece. The company also manages integrated mobility services including bike-sharing (BikeMi), parking facilities, traffic limited zones (Area B and Area C), and tourist services. Founded in 1917 and transformed into a corporation in 2001, ATM represents one of Europe's leading operators in automated metro systems with expertise across the entire mobility value chain.

ATM S.p.A. - Azienda Trasporti Milanesi

Overview

ATM S.p.A. (Azienda Trasporti Milanesi) is Milan's public transport company, wholly owned by the Municipality of Milan. As one of Europe's major urban mobility operators, ATM serves over 3.3 million inhabitants across the Milan metropolitan area and has established a significant international presence in Denmark and Greece. The company is recognized as a European leader in automated metro system management and is pursuing an ambitious transition toward sustainable electric mobility.

Key Details

Ownership Structure and Legal Form

• Ownership: 100% Municipality of Milan
• Legal form: Joint-stock company (S.p.A.)
• Equity: €1.15 billion (Group consolidated, 2023)

Historical Evolution

• 1917: Founded as Municipal Tramway Office (Ufficio Tranviario Municipale)
• 1931: Became autonomous municipal company (Azienda Tranviaria Municipale)
• 1999: Acquired "special company" status
• 2001: Transformed into joint-stock company
• 2006: ATM Group formally established

Transport Infrastructure

Metro Network: 5 lines totaling approximately 104 kilometers

• M1 (Red): Inaugurated 1964
• M2 (Green): Inaugurated 1969
• M3 (Yellow): Inaugurated 1990
• M5 (Lilac): Inaugurated 2013 - automated/driverless
• M4 (Blue): Completed October 12, 2024 with 21 stations - automated/driverless

Surface Network:

• 17 tram lines: 157 km of network
• 4 trolleybus lines
• 136 bus lines (plus 15 Radiobus lines): approximately 1,500 km of routes

Integrated Mobility Services

Beyond traditional public transport, ATM operates a comprehensive urban mobility ecosystem:

• MeLa light metro: Connection to San Raffaele Hospital
• BikeMi: City bike-sharing service
• Park & ride facilities: For cars and motorcycles
• Parking management: Control and regulation
• Traffic limited zones: Management of Area B and Area C access
• Vehicle removal and custody services
• Integrated Traffic System
• Tourist services: Historic tram rentals and ATMosfera restaurant tram
• Ticket distribution and customer information

Territorial Coverage

ATM's operations extend well beyond Milan's municipal boundaries:

• Metropolitan City of Milan: 95 municipalities served in Lombardy
• Province of Monza and Brianza: Through controlled subsidiary NET Nord Est Trasporti, which also manages urban public transport in Monza and its hinterland
• Provinces of Bergamo and Lecco: Some neighboring municipalities
• Como: Since 2005, management of the Como-Brunate funicular, a historic and tourist facility

The first tram to exit municipal boundaries was line 15 to Rozzano in 1992, marking the beginning of the company's territorial expansion.

International Presence

ATM has positioned itself among the leaders in sustainable mobility in Europe with significant foreign operations:

• Denmark: Since 2008, management of the entire Copenhagen metro network
• Greece: Opening of the first driverless metro in Thessaloniki

The company is recognized as one of the leading European operators in automated metro management, thanks to experience gained with the M4 and M5 lines in Milan.

History

Early Development (1917-1964)

ATM's origins trace back to 1917 when Milan's municipal tram service was established. In 1931, it became an autonomous municipal company, laying the foundation for decades of development. The post-war period saw significant expansion of surface transport networks.

Metro Era (1964-2000)

• 1964: Opening of M1 (Red Line), Milan's first metro line
• 1969: M2 (Green Line) inauguration
• 1990: M3 (Yellow Line) completion
• 1992: First extraterritorial service (line 15 to Rozzano)

Modern Transformation (2001-Present)

The conversion to a joint-stock company in 2001 marked a new phase, adopting corporate management structures while maintaining full public ownership. Key milestones include:

• 2004: Launch of SBME electronic ticketing modernization
• 2005: Acquisition of Como-Brunate funicular management
• 2006: Formal establishment of ATM Group structure
• 2008: International expansion with Copenhagen metro contract
• 2013: M5 (Lilac Line) inauguration - first automated line
• 2019: Introduction of STIBM integrated fare system (€2.00, 90-minute validity across 21 municipalities)
• 2022-2024: Phased opening of M4 (Blue Line), completed October 12, 2024
• 2023: Fare increase to €2.20 (January 9)

Technological Leadership

ATM has developed expertise across the entire mobility value chain, including:

• Management of traditional and automated (driverless) metros
• Vehicle and infrastructure engineering
• Digitalization of travel experience
• Development of innovative smart mobility solutions
• Electronic ticketing systems

Current Status

Financial Performance (2023)

The shareholders' assembly approved the 2023 financial statements on April 29, 2024, revealing mixed results:

Key Financial Metrics:

• Net profit: €753,000 (down 95% from €15 million in 2022)
• Total Group revenues: €1.097 billion (+€6 million vs. 2022)
• EBITDA: €75 million (-€38 million vs. 2022)
• Operating costs: €1.022 billion (+€44 million vs. 2022)
• Group equity: €1.15 billion

Revenue Drivers

Revenue growth was driven by:

• Higher compensation from foreign public transport contracts (Copenhagen and Thessaloniki)
• National contracts for M5 and M4 metro line management
• Increased revenues from NET subsidiary
• Growth in ancillary services (parking, vehicle removal) and commercial activities

Challenges and Critical Factors

The 2023 financial performance was heavily influenced by external factors:

• Energy crisis: Electricity cost increases absorbed nearly all additional revenues, representing €44 million in operating cost increases
• Post-pandemic effects: Persistent reduction in passenger numbers
• Exceptional inflation: Extraordinarily high inflation rates

According to financial press sources (ANSA and Il Sole 24 Ore), ATM achieved breakeven in 2023 primarily thanks to international activities, which compensated for difficulties in the domestic market.

Environmental Strategy and Sustainability

ATM is pursuing a transition to electric mobility through a comprehensive plan:

• Purchase of electricity from 100% renewable sources
• Complete bus fleet renewal plan with electric vehicles
• Development of innovative charging infrastructure
• Self-production of energy
• Conversion of depots and maintenance processes to support electric fleet

This strategy positions ATM as a leader in sustainable urban mobility, aligned with European decarbonization objectives for public transport.

Recent Infrastructure Developments

The most significant recent project was the completion of the M4 (Blue) Line:

• November 26, 2022: Inauguration of first section
• July 4, 2023: Direct connection between Linate Airport and city center
• October 12, 2024: Completion of entire line with 21 stations

The M4 represents a strategic infrastructure for Milan, being a fully automated (driverless) metro that significantly improves Linate Airport accessibility.

International Operations as Strategic Pillar

International expansion has proven strategically vital for the company's economic balance, with foreign operations providing stable revenue streams during a difficult period for Italian local public transport. The Copenhagen metro management contract and the Thessaloniki driverless metro project have established ATM's reputation as a global player in automated transit systems.

Sources

1. ATM - Chi Siamo (Official website) - Reliability: 1.0/1.0
   https://www.atm.it/it/IlGruppo/ChiSiamo

2. ATM - I Servizi (Official website) - Reliability: 1.0/1.0
   https://www.atm.it/IT/ILGRUPPO/CHISIAMO/Pagine/servizi.aspx

3. Wikipedia - ATM (Milano) - Reliability: 0.8/1.0
   https://it.wikipedia.org/wiki/ATM_(Milano)

4. Il Sole 24 Ore - Bilancio 2023 - Reliability: 0.9/1.0
   https://www.ilsole24ore.com/radiocor/nRC_29.04.2024_16.48_47710477

5. ANSA - Risultati 2023 - Reliability: 0.9/1.0
   https://www.ansa.it/sito/notizie/economia/2024/04/29/atm-2023-in-pareggio-grazie-alle-attivita-allestero_78d73c5b-c0cd-4278-b8a8-d20aa95b8e18.html

Average source reliability: 0.94/1.0