Salini Impregilo exceeds targets
By Thomas Allen01 March 2017
Salini Impregilo has reported a year of growth for 2016 – EBITDA (earnings before interest, tax, depreciation and amortisation) up 9.3% and EBIT up 5.6 % - with €7.3 billion of new orders on its books, along with a backlog of €36.9 billion.
Revenue stood at €6.1 billion with gross debt reduced by €150 million compared to June 2016, to €2.3 billion.
US construction company Lane Industries, acquired at the start of 2016, represented 25% of the group’s revenues with a record backlog of €2.5 billion and €850 million of new orders for 2017. Salini Impregilo said the future of that market looked promising thanks to the pledge by the Trump administration to spend US$1 trillion (€948 billion) rebuilding US infrastructure over the next ten years.
The European market accounts for 23% of the group’s revenues, with major projects including the Milan-Genoa high-speed, high-capacity railway line in Italy, and the construction of Copenhagen’s Cityringen metro line.
Another big project, which the group was awarded last May, is the construction of the 2,200MW Koysha hydroelectric dam in Ethiopia for €2.5 billion. The African market represents 17% of total revenues for the group.
In the Middle East, which contributes 25% of group revenues, Salini Impregilo is working on three major projects, including the Riyadh metro in Saudi Arabia and the Red Line of the Doha metro.