Webuild's board of directors confirmed i target for the three-year period 2023-25 and notes that since the beginning of the year the Group has acquired 11,4 billion new orders, including 6,3 billion projects for which Webuild is the best bidder, exceeding guidance of 10-10,5 billion for the whole of 2023. This is stated in a note from the company, which usually does not communicate quarterly reports, based on data and information relating to business performance since the beginning of the year.
BoD confirms guidance for 2025: revenues at 10,5-11,0 billion and Ebitda at 990-1.050 million
The Board of Directors confirmed the 2023-2025 targets: they will be achieved in 2025 revenues for 10,5-11,0 billion and 990-1.050 million EBITDA, fully covered by the current order backlog, with a solid financial structure of net cash and 57 billion backlog orders, says the note
"The exceptional order acquisition performance of the Group continues which, thanks to operational excellence, technological innovation and attention to health and safety, is fully seizing the thrust of investments in infrastructure linked to the megatrends underway at a global level" . Added to this is a total commercial pipeline of approximately 42 billion. The share on Piazza Affari in the late morning was 1,94 euros, down by 0,51%, while the Fitse Mib lost 1,27%.
Shareholders approve dividend of 0,057 euro per share
In addition, the company's shareholders' meeting today approved the 2022 financial statements and the distribution to shareholders of a dividend for an amount equal to Euro 0,057 for each ordinary and savings share existing and entitled to the dividend on the coupon detachment date. The dividend will be paid from 24 May 2023, with coupon detachment on 22 May 2023.
The meeting also confirmed the appointment of the Advisors Francesco Renato Mele and Andrea Alghisi, co-opted by the Board last October, expiring next December and approved the renewal of the authorization to purchase and the disposal of treasury shares.
Expected in 2024 the award of works for about 8 billion in Italy
Over 60% of new orders come from from abroad, in particular from Australia, in which the Group recently closed the acquisition of Clough, as well as from United States, Saudi Arabia and other countries in Europe. In Italy, the orders acquired and being finalized amount to 4,1 billion relating mainly to projects financed by the National Recovery and Resilience Plan: the award is expected within i early months of 2024 of further infrastructural works financed by the PNRR for approx 8 billion. “The domestic market continues to offer excellent opportunities for the Group, which also becomes the driving force for the entire supply chain of 10.000 companies involved in the construction of the 29 large infrastructure projects underway in Italy” observes Webuild.
New 1,2 billion contract in Sicily: Webuild will lead the consortium with a 75% stake
Webuild also announced today the consortium award of a new contract in Sicilia of the total value of 1,2 billion for the upgrading of the high railway capacity on the Palermo-Catania line. In particular, it concerns the awarding of Lot 4A Caltanissetta Xirbi-Nuova Enna, commissioned by RFI (FS Italiane Group) and included in the PNRR, which provides for the executive design and construction of 27 km of new railway line. Webuild will lead, with a total share of 75%, the consortium with Ghella (with a 25% share).
With this new contract, they become five lots that Webuild is carrying out in the director's strengthening program Palermo-Catania-Messina, for a total value of the contracts equal to approx 3,6 billion, with the prediction of the creation of 4.300 new jobs, between direct and third-party personnel and with the involvement so far of over 580 direct suppliers, 50% from Southern Italy and the islands.
Among the future orders there is the Messina Bridge: 11 billion of which 45% pertaining to Webuild
To the total of new orders acquired and in the process of being finalized since the beginning of the year of 11,4 billion, the forecast of the works relating to the construction of the Strait of Messin bridgepe of the connected railway and road works for a total value estimated at around 11 billion (of which 45% pertaining to the Group). “During 2023, a series of legislative initiatives were launched from Government aimed at allowing the construction of the bridge over the Strait of Messina and the related railway and road works” says Webuild. “The work represents a strategic infrastructure for the development of Southern Italy and for the completion of the trans-European transport networks. The project assigned to Eurolinks, an international consortium of which Webuild is the leader with one share of 45%, after a lengthy international tender process, is a highly innovative construction and will be the longest suspension bridge in the world, with a total length of 3.660 meters and a span of 3.300 meters. The total amount of the work, which includes the construction of the bridge, a complex of works for connecting and upgrading the road and railway network on the Sicily and Calabria sides and a considerable number of interventions for the redevelopment of the territory and for the mitigation of hydrogeological risk, it is estimated at around 11 billion”.
