Infrastructure spend to drive Webuild’s growth
By Catrin Jones16 May 2022
Webuild has announced its results for the first three months of 2022 with a ‘solid start to the year’.
The Italy-based company reported that in the first months of 2022 they acquired new contracts worth approximately €5.3 billion (US$5.5 billion) with the majority in foreign markets – such as Australia, Northern Europe and the US. In Italy, an estimated €24 billion (US$24.9 billion) of investments in public works are expected to be made.
New orders acquired and to be finalised year-to-date amounted to approximately €5.3 billion (US$5.5 billion), including projects for which Webuild was the best bidder for €3.1 billion (US$3.2 billion).
“Despite a complex international scenario, Webuild achieved excellent results in the first months of 2022 in terms of new orders, exceeding €5 billion,” said Pietro Salini, chief executive of Webuild.
Webuild said that the overall pipeline of the group’s commercial activities amounts to approximately €27.4 billion (US$28.4 billion), including tenders presented and awaiting the outcome for approximately €6.9 billion (US$7.1 billion), which are expected to be awarded this year.
Webuild is monitoring its core markets, including Western and Northern Europe, Australia and North America, all of which have major infrastructure investment plans. In Italy, approximately €24 billion (US$24.9 billion) of additional investments in large-scale public works are expected, €14 billion (US$14.5 billion) of which is for projects included in the National Recovery and Resilience Plan (PNRR.)
The group anticipates revenue of €7-7.5 billion (US$7.2-7.7 billion) across the rest of the year, fully covered by the current backlog.