Sales of US$4 billion for WeBuild
By Andy Brown29 July 2022
The contractor Webuild has revealed that in the first half of 2022 the company had sales of €3.9 billion (US$3.98 billion) and an order backlog of €47 billion (US$48 billion).
The half year revenue figure is up 24% on the same period last year. Over 70% of sales are from ‘abroad’ with just under 30% from the contractor’s home market of Italy.
New contracts acquired or for which the Group has been identified as best bidder total €8.1 billion (US$8.2 billion) since the beginning of the year. The contracts include projects such as a section of the Inland Rail project in Australia and the A303 trunk road and tunnel near Stonehenge in the United Kingdom.
At June 30, 2022, the total order backlog stands of €47.2 billion (US$48 billion). Of this, approximately 74% comes from low-risk markets, such as Italy, Central and Northern European countries, the US and Australia.
In the contractor’s home market of Italy approximately €16 billion (US$16.3 billion) of additional investments in large-scale public works are expected to be financed by the National Plan for Recovery and Resilience (PNRR), of which €2.7 billion worth of tenders are already underway.
Webuild says that the results show the the Group’s resilience despite geopolitical tensions and, to a lesser extent, the effects of the Covid-19 pandemic and the increase in raw materials prices.