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| Astaldi shareholder's meeting approved the 2011 financial statements Italian builder Astaldi Group achieved an increase in total revenues to EUR 2.36 billion in 2011 (+14.8% YOY, EUR 2.06 billion at 31 December 2010), thanks to the positive trend of activities in Italy and abroad. Significant levels of earning were confirmed: the EBITDA margin stood at 11% and EBIT margin at 8.5%, in relation respectively to EBITDA of EUR 259.4 million (+9.6%, EUR 236.6 million at 31 December 2010) and EBIT of EUR 200.7 million (+11.3%, EUR 180.3 million in 2010). EBT (pre-tax profit) amounted to EUR 125.4 million (+22.4%, EUR 102.5 million at 31 December 2010). Net profit increased to EUR 71.2 million (+12.9%, EUR 63.1 million at 31 December 2010), with the net margin holding steady at 3% and a tax rate of 42.6%. The order backlog at 31 December 2011 totalled over EUR 10 billion, thanks to EUR 3.3 billion of net increases related to new projects and contractual changes recorded during the year. EUR 7.3 billion of projects in progress refer to the construction sector and EUR 2.7 billion to concession projects and project finance initiatives. Net financial debt, excluding treasury shares, amounted to EUR 479.7 million at 31 December 2011 (EUR 362.4 million for 2010), after having financed investments totalling EUR 250 million (EUR 202 million for concession projects), with self-financing generated by the construction sector amounting to EUR 124 million. At the end of 2011, the debt/equity ratio – which compares the level of debt and equity, excluding treasury shares –stood at 1.02x. At the same date, the corporate debt/equity ratio, which excludes the share of debt related to concessions insofar as with no recourse or self-liquidating, stood at 0.5x. write your comments about the article :: © 2012 Construction News :: home page |