Webuild Group’s turnover hits €10 billion mark

Webuild, which in February last year finalised a deal to buy Australian engineering and construction company Clough Group, reported revenue of €10 billion for the year to 31 December 2023, up from (€8.2 billion in 2022).

It said the increase was a result more operating activity in its home market of Italy amid investment in transport projects under the country’s National Recovery and Resilience Plan (PNRR) in Italian. Those included high-speed railway projects between Milan and Genoa, Verona and Padua, and Naples and Bari. It also completed several major projects during the year, including the second longest suspension bridge in Continental Europe over the Danube River in Braila, Romania (pictured).

Operations within its Australian and Middle Eastern subsidiaries also increased.

Adjusted pre-tax profit increased by 56% to €393 million (US$428.2 million). The company reported a record order intake, with acquired orders totalling €22 billion (US$24 billion). Its total order backlog is now at an all-time high of €64 billion (US$69.7 billion).

Nearly half (48%) of that backlog is in Itay, with Australia making up 19%.

Webuild said it was “very confident” about future prospects, and forecast another year of growth in 2024, with revenue higher than €11 billion and EBITDA higher than €900 million.