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ASTALDI - 4Q15 RESULTS
​Astaldi, Italy’s 2nd-largest construction group, reported weak 4Q15 results after coming off an already disappointing set the earlier quarter. Astaldi has been on a downward path for two quarters. Italy (18% of sales) is showing no sign of recovery, while foreign activity (82%) is suffering setbacks. Astaldi, which was accustomed to strong growth rates, posted 4Q15 sales down 1.7% yoy to €755m (we expected €800m), coming after -0.5% in 3Q15.
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