Salini Impregilo aims to double core profit by 2017
MILAN, March 20 (Reuters) - Salini Impregilo said it aimed to more than double its core profit and boost its margin on sales by 2017 as Italy's biggest builder unveiled its targets under a new strategy plan.
In a statement, Salini Impregilo, which was formed in January following a merger, said earnings before interest and tax (EBIT) should rise to around 500 million euros ($696 million) in 2017 from a proforma of 234 million euros in 2013.
Over the life of the plan the company expects annual orders of more than 7 billion euros, down from 8.6 billion euros in 2013.
Its net financial position should turn positive at around 500 million euros at end-2017 compared to a net debt of 332 million euros at end-2013.
The company said it was confident about plans to increase the number of shares freely tradeable on the market through a capital increase. ($1 = 0.7189 Euros) (Reporting by Danilo Masoni)
© Thomson Reuters 2017 All rights reserved.