Webuild significantly surpasses new order target set for 2023

Webuild revealed in their half-year financial report that they have secured new orders worth €17.7 billion (US$19.5 billion). This amount significantly surpasses the previously projected guidance of €10–10.5 billion (US$11-11.5 billion) for the full year 2023.

The company inaugurated the Bridge across the Danube River in Braila (Romania) (Photo: Webuild)

Webuild says that a substantial portion of these new orders continues to come from foreign markets, notably Australia (where the Group recently acquired the Australian company Clough), the United States, Saudi Arabia, and various European countries.

Additionally, the Italian market witnessed a surge in public tenders for infrastructure projects, leading to contracts amounting to more than €9 billion (US$9.9 billion) for the Group.

As of June 30, 2023, the construction order backlog reached a high of over €51 billion (US$56 billion), covering 100% of the target revenues for 2025. Webuild says that this positions the Group to face future challenges, due to a well-balanced presence in low-risk markets, such as Italy, central and northern Europe, the United States, and Australia, which constitute approximately 78% of the backlog.

Operationally, the Group demonstrated increased growth, with revenues increasing by 18% to €4.6 billion (US$5 billion). The financial performance saw an improvement of over €835 million (US$921 million) compared to the same period last year.

During the first half of 2023, Webuild successfully completed several impactful infrastructure projects, including the San Babila – Linate section of the M4 metro line in Milan, connecting the city centre to Linate airport in just 12 minutes. Additionally, the company inaugurated the Bridge across the Danube River in Braila (Romania), the second longest suspension bridge on continental Europe.