Impregilo figures 'reflect competitiveness'
By Sandy Guthrie14 November 2011
Group aggregate net sales of €1.52 billion have been reported by Italian construction and engineering group Impregilo for the first nine months of 2011, compared to €1.51 billion in the corresponding period last year.
It said that €1.22 billion, equal to 80% of the total, came from abroad. It felt this demonstrated the development of the infrastructure sector - with sales of €1.17 billion, an increase over the same period in 2010 of 11% - and concessions - with revenues of €181.1 million, an increase on a comparable basis of 11% compared to the corresponding period of last year.
Impregilo said these results reflected the strength and competitiveness of the group, particularly in the infrastructure sector, the US, Romania and Italy.
It said the uncertainty on the international markets that was already a feature of the previous periods continued to represent a critical element for companies like Impregilo, operating in industries with high capital expenditure.
Regarding the political and economic situation in the Mediterranean area, Impregilo highlighted the way countries such as Tunisia, Egypt and Libya became the scene of strong internal tension, rapidly degenerating into large-scale political conflicts.
In particular, the evolution of events in Libya has forced the group - which was present in the country through a controlling interest in a local company - temporarily to suspend industrial operations until political and social conditions return to normal safety and stability.
Although Impregilo said there were no material difficulties concerning investments made in this area, it confirmed its forecasts which do not envisage resumption of production operations in Libya in 2011.
Impregilo Group was able to exploit its leadership position in the Italian market with the award of the project for the construction and operation of the new Milan underground line 4, which it said highlighted a renewed and stronger presence on the domestic market, in spite of continued uncertainty surrounding the start of major construction sites in Italy.