2020 Financial Statements approved
25 March 2021
In the year of the pandemic, the Salcef Group records positive figures, with € 41.3 million in net profits.
On 24th March, the Salcef Group Board of Directors approved the Consolidated Financial Statements for the year ending 31st December 2020, prepared according to IAS/IFRS international accounting standards.
During the year, revenues increased by 16.7%, to € 340.3 million. This increase was partly due to the acquisition of the American company Delta Railroad Construction Inc., which contributed € 10.9 million.
Consolidated EBITDA in the 2020 financial year reached€ 78.9 million, an increase of 18.5% on the previous year.
Despite 2020 being a difficult year overall from an economic and social point of view, net profit for the year reached € 41.3 million, marking a growth of 49.2% compared to the previous year.
The favourable revenue trend is also reflected in future prospects. The Group’s backlog as of 31st December 2020 amounted to € 602.7 million, 27.2% of which were foreign contracts and 72.8% works in Italy. The result ensures business continuity for approximately two financial years.
In light of these positive figures, the Board approved the proposal to distribute an ordinary dividend of € 0.42 per share.
“To achieve these results – commented Salcef Group CEO Valeriano Salciccia – the Group’s ability to react and the conscientiousness with which it acted were fundamental. During the pandemic, we quickly implemented the organizational measures and health precautions needed to protect the health of our employees and collaborators, in order to meet our commitments to maintaining rail infrastructure. The Annual Report we are presenting to shareholders gives a clear picture of the action taken.”
In the future, the Group’s activities may benefit from measures to relaunch the economy envisaged by the governments of European and non-European countries, which are expected to develop mainly through extraordinary investment plans in infrastructure.
Salcef’s Board of Directors also approved the first Sustainability Report as of 31st December 2020 (consolidated Non-Financial Statement – NFS), consolidating a process already started in the implementation of ESG principles, with the aim of creating value for its stakeholders, people, communities and territory, while respecting the environment.
Read the press release