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Investing.com -- Webuild S.p.A. on Friday reported €9.3 billion in new orders for the first nine months of 2025, a 12% increase from the same period a year earlier.
The Italian construction group said the intake lifts its 2023–2025 total to about €45 billion, nearly €10 billion above the target in its “Roadmap to 2025 – The Future is Now” plan.
Webuild said the order book provides about four years of revenue visibility and that more than 98% of new contracts came from markets it classifies as low-risk.
Italy accounted for €4.6 billion of the nine-month intake, mainly the €1.6 billion Santomarco Tunnel contract on the Salerno-Reggio Calabria high-speed rail line and the €2 billion extension of Rome Metro Line C.
The figures include €1.4 billion in the United States, €1.3 billion in Australia, €0.4 billion in Europe and €1.6 billion in the Middle East and other countries. The total also includes €0.8 billion from best bids.
Webuild reported a short-term commercial pipeline of €76.7 billion, comprising €18.5 billion in tenders submitted and awaiting outcomes and more than €14 billion in tenders in preparation.
Kepler Cheuvreux said the pipeline is 36% lower than the €118.5 billion reported in the same period of 2024, citing reduced prospects in the Middle East and other regions partially offset by higher activity in Europe.
The group said it delivered the Grand Ethiopian Renaissance Dam, calling it “the largest hydroelectric project ever built in Africa,” and Lot 2 of Argentina’s Riachuelo wastewater system, described as “the largest wastewater treatment plant in Latin America.”
In Italy, it reported milestones on the Bicocca–Catenanuova high-capacity rail line in Sicily, the Casalnuovo Tunnel on the Naples-Bari route, the first tunnel under the Alps for the Brenner Base Tunnel and caisson installation for the New Genoa Breakwater.
S&P Global Ratings upgraded Webuild to BB+ with a stable outlook in November. In the release, Webuild said the agency recognised “advanced engineering capabilities superior to those of similarly rated competitors.” Fitch Ratings issued a BB+ upgrade in May.
The company reaffirmed 2025 guidance: revenues above €12.5 billion, EBITDA above €1.1 billion, net cash above €700 million and a book-to-bill ratio above 1.0.
Kepler Cheuvreux noted that its forecasts, €13.3 billion in revenue, €1.18 billion in EBITDA and €798 million in net cash, are in line with that guidance and that “positive operating trends point to a potential upside.”
Webuild said Lorenzo Iucci was appointed to the board through co-optation to replace Francesco Renato Mele and qualifies as an independent director under Italy’s Consolidated Law on Finance.