Webuild has reported that its net profit for financial year 2023 soared to €236m ($257.33m), a rise from €118m in 2022.
The company’s total revenue and other income for the year also saw an increase, rising to €9.99bn from €8.16bn in 2022. It reported that 90% of its revenues were generated in low-risk countries.
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Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Webuild stood at €819m, marking a 43% increase from €572m in 2022.
Webuild’s total order backlog reached €63.7bn in 2023, with construction backlog by geographies accounting for €54.9bn.
The construction backlog itself expanded by 25% compared to the previous year.
In 2023, Webuild’s mergers and acquisitions activities included the acquisition of Australian company Clough.
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By GlobalDataAdditionally, it divested its share in the concession related to Italy’s M4 metro line, realising €141m from the sale.
A total of 90% of Webuild’s construction backlog is composed of projects that contribute to UN Sustainable Development Goals.
Webuild CEO Pietro Salini said: “Our performance is the result of a consistent and clear strategy delivered since 2012.”
For 2024, Webuild forecasts another year of growth, with revenues expected to surpass €11bn and EBITDA to exceed €900m.
