Whilst waiting for the start up of major infrastructure projects in the domestic market, Italian contractor, Impregilo is actively pursuing an overseas high value contract aquisition policy. Recent successes include the $882M combined value contracts to build two major lots of the 57km long Gotthard base tunnel in Switzerland.
Impregilo will carry out the work as part of an international consortium, being a 26% stakeholder. The order is for the 30km of tunnelling along the Bodio and Faido lot in Canton Ticino and is scheduled to take 10 years.
Impregilo has reported an encouraging if unremarkable start to 2001. In the first quarter the company reports a small profit that exceeded budget projections. Operating income totalled 27.5M euro with income before taxation of 1.4M euro. An order portfolio standing at 14,891M euro shows good signs for the year ahead.
Impregilo has developed and initiated a company strategy to increase turnover. Regarding management, consolidation of the Group’s new corporate structure was furthered to improve efficiency of head offices and peripheral sites. A major project also began in the first quarter to join all companies operating in the building sector into a single company.
A recent company statement said, "The first quarter shows that an economic recovery is underway compared to 2000. In addition to cutting costs, Impregilo will continue to focus on collecting receivables and reducing working capital, in order to achieve its debt reduction targets."
