SALINI IMPREGILO- A good FY17 year despite soft 2H17 and supportive outlook for FY18
Salini, the largest Italian construction company, reported its FY17 results, which can be considered as good overall. Total revenue increased by 5.8% at constant FX and 3.8% on a reported basis to €6.1bn. Salini’s top line has been adversely impacted by the decline of the USD, which is the denomination for 53% of the company’s contracts EUR being only 26%. After a strong start to the year with +11% yoy on a reported basis in 1H17, 2H17 experienced a 2% revenue decline.
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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