Sales up at Impregilo

Italian contractor Impregilo posted improved sales for the third quarter of 2012, up +26% year-on-year to €1.9 billion.

International earnings accounted for 79% of total sales, or €1.5 billion, increased by growth in the construction sector, where production value grew by +34.5%.

However, despite the increase in sales, the group also posted a net loss of €21.6 million, versus a profit of €58.7 million for the same period in 2011. The group attributed its loss to the uncertainty faced by the national and international economy, and to difficulties encountered on the expansion of the Panama Canal and projects in Colombia.

With net loss at €21.6 million, the company’s board of directors has decided to dispose of non-strategic assets, including its 22.74% share in the Brazilian group EcoRodovias.

In September 2012, Impregilo Group entered into a strategic accord with private Italian contractor Salini, which will see the two companies embark on joint commercial strategies in domestic and international markets. It is estimated that, working together, both contractors could take on new projects worth up to €4.6 billion between 2013 and 2017.

Looking ahead, Impregilo forecasts an increase in turnover and a positive return on sales for the full financial year 2012, compared to 2011 figures.