Astaldi ‘progressing’ after revenues rise

Italian-based Astaldi has released its half-year results, announcing a rise of 0.6% year-on-year in its revenues to €1.4 billion.

The contractor also saw its earnings before interest, taxes, depreciation and amortization (EBITDA) fall 6.7% compared to the same period a year ago, to €199 million.

The company’s EBITDA margin of 14.3% was lower than the 15.4% seen for the comparable period in 2015, but showed an improvement on the 9.7% recorded for the second half of 2015.

Filippo Stinellis, CEO at Astaldi, said, “The strategic plan approved in May 2016 set out the specific objectives of delivering sustainable growth and creating a strong and flexible financial and operational structure.

“These first half results demonstrate commercial and industrial progress in line with planned targets, with the achievement of key operational goals whose positive effects on the Group’s financial dynamics will start to be seen over the second half of the year.”

He added that the company was working to achieve revenues of over €3 billion by the end of the year.

He said that, with the completion of some key works, a strong commercial acceleration and renewed financial flexibility, the company was confident that it would succeed in achieving its targets.