Astaldi on course for successful year

Italian contractor Astaldi has recorded revenues of €2.15 billion for the first nine months of 2016 – a 4.1% increase compared to the same period a year ago.

The company attributed its sales increase to its “major commercial efforts”, as well as its positive third quarter sales, which were up 11.2% year-on-year.

Astaldi also saw its net profit increase 4.7% year-on-year to €78.8 million for the first nine months of 2016.

Filippo Stinellis, Astaldi CEO, said, “The major commercial boost during these months and the focus on EPC contracts are already producing their positive effects.

“The trend recorded over the first nine months confirms the planned growth path, with a Q3 already showing the planned reduction of working capital and levels of debt expected by the end of the year.”

Astaldi said that, over the coming months, the company would focus on implementing and monitoring all its actions set in its 2016-2020 strategic plan.

It said the company remained on course to meet its year-end targets.