The wave of the rise comes directly from Washington: the bipartisan agreement on 973 billion infrastructure plan of dollars agreed by President Biden with a group of moderate parliamentarians, ten in all (five Republicans, as many Democrats) has given wings to the construction sector in Piazza Affari, this morning the liveliest in a Flat Bag. It is at the top of the list Buzzi Unicem +3,7% which already today accounts for almost 40% of its turnover on the American market, or about 57% of the EBITDA.
It also advances WeBuild +0,64%, already in tension in recent days after being awarded the comitted for the High Speed Rail in Texas. The good news for Pietro Salini's company, which generates 28% of its turnover in the USA, came from Australia: the State of Victoria has selected the Spark consortium to which the Italian group belongs as the best bidder for the North East Link Project, the twin three-lane tunnels that will complete Melbourne's motorway network, absorbing the daily traffic of 135 vehicles.
The impact of the wind of good business blowing from the American front does not end here, destined to affect even beyond the construction sector. Equita has drawn up an initial list of possible beneficiaries which include Cementir (+1,23%) (today 8% of turnover is overseas) but also manufacturing companies more connected to infrastructures. Among these stands out Cnh Industrial +1%, in line with the boom of Caterpillar's competitors, one of the Dow stocks that reacted most strongly to the White House's announcement. But also Prysmian (+0,33%) which during the week was chosen for a one-of-a-kind project: the transmission of energy by land along railway lines. The project will connect two of the largest US energy markets, the Midwest and the East, providing energy from renewable sources to numerous cities, including Chicago. And the list goes on with Interpump (30% of revenues in North America), falck it's the same Enel, which will undoubtedly have a voice in the American game. A long list, in short, which could also include the Eteria consortium established with equal shares by Vianini Lavori (Caltagirone group) and Itinera (Gavio group) to participate in the public tenders that will be called in Italy in the coming years.
The announcement of the Biden plan it falls in fact in a moment of strong recovery of investments in construction after a long phase of slack which has put at risk the future of many companies which the sector has been able to oppose with a robust industrial and financial restructuring which, coinciding with the recovery of orders, is bearing fruit.
Already in the first quarter of 2021, investments in construction had exceeded the values of the end of 2019. Now, thanks to the greater solidity of the accounts, the sector is presenting itself at theappointment with the funds of the PNRR Plan. This time, instead of the bitter medicine of austerity, the sector can unleash its considerable firepower.
