Webuild reports €53.7 billion backlog and stronger first-half margins
The contractor recorded €6.65 billion in revenue and €673 million EBITDA in its half-year report.
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Webuild reported revenue of €6.65 billion for the first half of 2026, broadly matching the €6.643 billion recorded a year earlier, in results published on 29 July. EBITDA increased to €673 million, up 13.6%, with the margin rising to 10.1% from 8.9%. The results concern the period ended 30 June and show an improvement in operating margins alongside a relatively stable revenue base, rather than a comparable percentage increase in sales.
The company identified major Italian rail projects and Australian infrastructure schemes among the drivers of production. The Italian work included high-speed and high-capacity railway corridors connecting Milan and Genoa, Verona and Padua, Naples and Bari, and other routes. Australian contributions included Snowy Hydro 2.0, Sydney Metro's SSTOM package, Melbourne's North East Link and the New Women and Babies Hospital in Perth. More than 60% of revenue was generated outside Italy, according to the results announcement.
Webuild reported a total order backlog of €53.7 billion. Construction represented €46.6 billion, while concessions and operation and maintenance represented €7.2 billion in the rounded figures presented by the company. It also reported €7.7 billion of new orders since the start of the year and more than €19.6 billion of tenders submitted and awaiting decisions. Submitted tenders are a commercial pipeline measure and should not be counted as secured backlog or contracted revenue.
The group held a positive net financial position of €110 million at the end of June, compared with €363 million at the end of 2025. Gross debt stood at €3.327 billion and cash and cash equivalents at €2.364 billion. Webuild said the movement in its net position reflected the timing of work certification and payments from public administrations, which it described as more concentrated in the second half of the year.
For 2026, the company guided to revenue exceeding €13.6 billion, EBITDA above €1.2 billion and net cash above €300 million. Those targets are the forward-looking expectations stated with the July report. The announcement combines evidence of current production, improved margins and a substantial contracted workload with a separate view of future performance. Its usefulness for infrastructure-sector monitoring lies in retaining those distinctions and the dates to which each financial measure relates.
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