SALINI- 1H18 Comments
Salini reported 1H18 results with a slight profitability decrease at constant FX and excluding a 1H17 positive one-off item. Net debt increased on the back of working capital seasonality. We expect the likely disposal of the plants & paving division (P&P) to improve Salini’s financial structure.
Salini Impregilo is engaged in the water segment. Co. is organised according to the distribution of its activities into its various segments: Corporate, which is engaged in the coordination and supervision of Impregilo S.p.A.'s main investments; Construction, which consists of the business headed by Impregilo S.p.A.; Concessions, which consists of the business coordinated by Co.'s subsidiary, Impregilo International Infrastructures B.V. (the Netherlands) and carried out through subsidiaries, jointly controlled entities and associates; as well as Engineering & Plant Construction, which consists of the business headed by FISIA Italimpianti and FISIA Babcock Environment (Germany).
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