New entity Salini Impreglio posts first results

Recently merged Italian contractor Salini Impregilo has reported its first annual results as a combined entity, with revenues nearly topping €4 billion.

The new Salini Impregilo organisation, produced by the merger of two large industrial groups with effect from 1 January, 2014, realised 2013 pro-forma revenues of €3,970 million, up 13.6% compared with the 2012 pro-forma figure of €3,496 million.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) sat at €426 million, more than double Impregilo’s 2012 results of €210 million.

Salini Impregilo recorded new business worth €8.6 billion in the financial year, of which €5.9 billion related to its core activity of construction. The contractor held an order book worth €29 billion at December 31, 2013, of which €21.9 billion was in construction.

Claudio Costamagna, chairman of the board of directors of Salini Impregilo, said, “The new Salini Impregilo organisation represents an enormous challenge - that of Italian excellence on the global market, a great act of courage, and the results and the new business plan are already revealing it to be a story of success.”

The group’s business plan covers the period 2014 to 2017, and targets revenues of €7 billion, EBITDA of approximately €800 million, and average new orders in excess of €7 billion.

The new group conducts its business on a global scale with an active presence in approximately 50 countries, operating through 31,000 employees from 88 countries.