Astaldi on track with results
By Thomas Allen15 March 2017
With a rise in net profits from continuing operations and an increase in total revenue, “The 2016 results are in line with management expectations,” according to Astaldi CEO, Filippo Stinellis.
The Italian-based construction group has reported a 5.2% year-on-year increase in total revenue to over €3 billion, and a 4.5% year-on-year rise in operating revenue to €2.8 billion. Astaldi has put this down to the good progress reported by projects in Europe, America and Algeria. International activities contributed 84% of total operating revenue, which equated to €2.4 billion.
Net profits from continuing operations were up 24.5% year-on-year to €97.4 million and their EBITDA (earnings before interest, taxes, depreciation and amortization) came to a total of €379.9 million – up 6.9% year-on-year. The group’s EBIT (earnings before interest and taxes) was €317 million, representing a 14.7% year-on-year increase.
Astaldi’s total order backlog stood at €27 billion at the end of 2016, of which €19.5 billion comprised orders in progress – up 9% on the 2015 figures – and approximately €8 billion was down to additional orders that have been secured or are being finalised.
Net financial debt came to just over €1.09 billion. This represented a fall compared to the €1.37 billion debt recorded at the end of June 2016, but a rise from the December 2015 figure of €983 million.
The group has also reported an acceleration of their concession asset disposal process, which it said aligned with its 2016 to 2020 strategic plan.