Astaldi holds steady

Italian contractor Astaldi saw revenues hold steady while net profit reported a small growth, as the company posted its financial results for the nine months to 30 September, 2013.

Total consolidated revenues amounted to €1.73 billion, down slightly on 2012’s figure of €1.79 billion.

However, earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 18.2% to €220 million while net profit rose 1.6% to €61.4 million, up from €60.4 million at 30 September, 2012.

CEO Stefano Cerri said, “The group is now making the utmost effort to guarantee financial support for production regarding projects in the start-up phase on the one hand, and concession investments on the other.”

Astaldi continued to rely heavily on its domestic market, with Italy accounting for 39.2% of revenues. The rest of Europe accounted for 36.7% while the Americas contributed 16.3%.

Astaldi’s projects in Africa accounted for 5.6% of revenues, while Asia contributed 2.2%.

Construction accounted for 98.6% of operating revenues, equal to €1.64 billion.