2019 Financial Statements approved by the Board

The Salcef Group board has approved draft consolidated financial statements for 2019, with an expected net result for the Group of 38.4 million euro.

 

The first financial statements closed after the floatation on the stock exchange have shown positive results, with a consolidated production value of 311.2 million euro.

The consolidated EBITDA is 72 million, an increase of 11.6% on the previous year. This growth is mainly due to the strategic choice of increasing contracts with higher margins, which are typical of the company’s core business.

The Group backlog as of 31st December 2019 was 601.2 million, which guarantees continuous work activity for around two financial years . These are extremely positive figures and, as a result, the Board has decided to distribute an ordinary dividend of 0.40 euro per share at the next shareholders’ meeting.

Investments prospects are also positive, as anticipated in recent news on how the Gruppo Ferrovie dello Stato Italiane (Italian State Railways) intends to accelerate its investment already planned for 2020, with new calls for tenders by the end of the year for a total of 20 billion euro, 14 billion of which are for railway infrastructure.

Even at a difficult time like this, the solid, non-cyclical nature of our core business – railway maintenance and renewal – like that of the Business Units that complete the range of our Group’s services, mean that we can look to the future with confidence and determination” (Gilberto Salciccia, Salcef Group Chairman).