Salini Impregilo growth

A 2.9% increase in consolidated revenues has been reported for the first six months of this year, compared to the same period in 2014, by Italian contractor Salini Impregilo, with a 20% increase between the first and second quarters of 2015.

It said that the revenue targets in its business plan were already 92% covered by its backlog.

Consolidated revenues for the first six months of 2015 totalled €2.20 billion, it said – a 2.9% increase from the €2.14 billion reported for the same period the previous year.

Between the first and second quarters of 2015, revenues grew more than 20% to €1.20 billion, which Salini Impregilo said reflected the positive contributions from projects in markets such as Ethiopia, Qatar and Malaysia.

Total operating costs in the first half of 2015 were €1.97 billion compared with €1.94 billion a year earlier.

The company reported that EBITDA (earnings before interest, taxes, depreciation and amortization) in the first half of 2015 was €229.3 million. This was 16.2% higher than the figure reported in the same period last year.

Also in the first half of 2015, net profit from continuing operations came to €71.9 million, which it described as “a remarkable increase” compared to the €15.6 million realised in the first half of 2014.

The total backlog at the end of the first half of 2015 increased to €33.3 billion, €26.1 billion of which related to construction and €7.2 billion to concessions.