Italy’s Salini Impregilo revenues up 10%

With major new projects picking up steam in Ethiopia, Qatar, Saudi Arabia and Europe, Italian construction giant Salini Impregilo has reported consolidated revenues of just under €4.2bn ($4.6bn) for 2014, a 10.7% increase from the previous year (restated on a comparable basis).

Profits for the year stood at €103m, up 12% on the previous year.

The company, whose overseas projects include Ethiopia’s Grand Renaissance dam and the widening of the Panama canal, said its total order backlog at the end of 2014 reached €32.4bn, €25.3 billion of which related to construction and €7.1 billion to concessions.

New orders in 2014 totalled €6.5bn. They included the Dubná Skala Highway in Slovakia; the S8 Expressway in Poland; a storage tunnel in Cleveland, US; civil works on a hydropower project in Siirt, Turkey; and additional work on the new Cityringen metro line in Copenhagen, Denmark.

The company also took a higher stake in the Metro Riyadh project worth about €537m.

Salini Impregilo formed from two rivals, Salini and Impregilo, on 1 January 2014 with the aim of expanding into emerging markets.

Photograph: Danish prime minister Helle Thorning-Schmidt visits a Salini Impregilo site in Copenhagen, January 2015 (Salini Impregilo)

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