New entity Salini Impreglio posts first results

By Sarah Ann McCay21 March 2014

Claudio Costamagna, chairman of the board of directors of Salini Impregilo

Claudio Costamagna, chairman of the board of directors of Salini Impregilo

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.

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