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| Astaldi reports results for Q1 2011 The Board of Directors of Astaldi S.p.A., Italy's second-largest builder, met to approve the Group's Interim Report on Operations at 31 March 2011. Total revenues at 31 March 2011 registered a marked growth of 10.1% and amounted to EUR 511 million (EUR 464 million at 31 March 2010), thanks to the order backlog's excellent levels of diversification. There was an increase in activities in Italy and abroad, especially in the transport infrastructures sector. Operating revenues increased to EUR 489.4 million (+10.1%, EUR 444.7 million at 31 March 2010), with the contribution from Central Europe and Turkey (specifically the Istanbul underground in Turkey and the Henri Coanda International Airport in Bucharest, Romania), as well as from Italy (Maxi Lots DG-21 and DG-22 of the Jonica national road) and Algeria (railways). Other operating revenues totalled EUR 21.6 million (+12%, EUR 19.3 million at 31 March 2010) and reflected the positive trend of activities. The results show good levels of earnings reflecting an order backlog of increasing quality. EBITDA amounted to EUR 56.3 million (+7%, EUR 52.6 million at 31 March 2010) with the EBITDA margin holding steady at 11%. EBIT recorded a more marked increase of 10.7% amounting to EUR 44.3 million (EUR 40 million at 31 March 2010), with an EBIT margin of 8.7%. Financial operations reflected the increasing volumes of activities and the trend of the Group's financial undertakings, especially in the concessions sector. Net financial charges amounted to EUR 16.5 million (EUR 15.5 million at 31 March 2010), with an unvaried incidence on revenues of 3.2%. EBT totalled EUR 27.8 million (+14%, EUR 24.3 million at 31 March 2010). This resulted in an increase in net profit of 17.8%, amounting to EUR 17.3 million (EUR 14.7 million at 31 March 2010), with an estimated tax rate of 38% for the quarter. write your comments about the article :: © 2011 Construction News :: home page |