Webuild reports group’s best results to date
By Catrin Jones17 January 2022
Italian contractor says new global contract wins amount to €10.8 billion
Webuild has announced a positive financial position at the end of 2021 with net cash of €100-200 million and with gross debt down €860-960 million.
The Italy-based contractor said the figures represent the group’s best financial position since 2014, with a net cash improvement of approximately €540-560 million from December 2020 figures and of €500-600 million compared with the mid-point of 2021.
It is the strongest net cash position registered by the Group since the founding of the Salini Impregilo Group in 2014.
The company says it registered a record amount of new contracts during 2021 and are benefitting from major sustainable infrastructure investment plans launched by various countries where the Group operates.
The total new orders acquired and in the process of being finalised for the year amounted to approximately €10.8 billion – more than 95% of this came from core markets such as Italy, the US, Australia, France, Austria, and the Nordics.
The contractor reported in a press release that the results of 2021 are down to the significant volume of new orders, the recovery of operations at various construction sites despite the persistent uncertainties about the global economy due to the pandemic, and improvements in working capital management.
These preliminary results have yet to be audited by independent auditors. Furthermore, as the 2021 financial statements are still in the process of being finalised, the preliminary results are subject to change and should not be considered definitive, said Webuild.