WEBUILD S.P.A. March 15 (Reuters) - Italy's Webuild on Friday moved its 2025 revenue target up by a year, after the country's largest construction company reported 2023 earnings ahead of expectations.
Webuild said it now expects a revenue of above 11 billion euros ($11.96 billion) and core profit above 900 million euros in 2024, compared to its earlier core profit target of 990-1,050 million euros.
It reported Group 2023 revenue up 23% year-on-year at 9.96 billion euros, beyond its forecast of 9.0-9.5 billion euros, with 66% of it coming from foreign markets.
Adjusted core profit rose 43% to 818.9 million euros, also beating company's guidance of 720-760 million euros, and adjusted net profit totalled 236.0 million.
Webuild said it won 22.4 billion euros in new orders last year, with Italy accounting for around 11.6 billion euros, followed by Australia and the Middle East.
Its order backlog of 63.7 billion euros in 2023 fully covers company's target to 2025, the company said in a statement.
Webuild proposed a dividend of 0.071 euro for each ordinary share, up 25% from year, and of 0.824 euro for each saving share.
The board also decided to propose the renewal of the share buyback programme, which in case of approval would not exceed 10% of the total outstanding shares. ($1 = 0.9195 euros) (Reporting by Alberto Chiumento; Editing by Varun H K)
