Q4 2025 Webuild SpA Earnings Call Transcript
Key Points
- WeBuild SpA (IMPJY) delivered a 160% total shareholder return over the last three years.
- The company achieved significant growth with revenues reaching €13.6 billion in 2025, surpassing the planned €10.7 billion.
- EBITDA margin improved from 7.2% in 2022 to 8.6% in 2025, with EBITDA reaching €1.2 billion.
- Order intake exceeded planned targets by €13 billion, resulting in a construction backlog of €51 billion.
- The company maintained a strong balance sheet with a net cash position of €770 million at the end of 2025.
- The company faced challenges from unprecedented inflation, interest rate increases, and currency volatility.
- Foreign exchange was a headwind, with revenues potentially €1.5 billion higher at constant 2022 exchange rates.
- Net exchange results were negative by €73 million, impacted by currency fluctuations.
- Working capital consumed over €0.5 billion of cash flow in 2025.
- The geopolitical situation in the Middle East presents uncertainties, although current operations in Saudi Arabia remain unaffected.
Good morning and welcome to the Webuild full year 2025 results and 2026 outlook conference call. On today's call, we have Pietro Salini, Chief Executive Officer, and Massimo Ferrari, General Manager, corporate and finance. (Operator Instructions)
I will now hand you over to your host Pietro Salini to begin today's conference. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining our annual conference.
Call.
It is a pleasure to be here with you and.
To celebrate the conclusion of our 3 year business plan.
Let me begin with some context. The past 3 years.
Have.
Been exceptionally complex.
Unprecedented inflation.
Affecting both our geographies and the core component of our operation.
Significant.
Increase of interest rates and.
Currencies volatility, geopolitical structural changes, supply chain bottlenecks, and persistent labor constraints.
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