Webuild rises after CEO says 2024 to be above expectations

May 27, 202409:55 UTC

** Shares in Italian construction group Webuild WBD rise more than 4% after CEO Pietro Salini said, as quoted by news agency ANSA on Friday, that he believes H1 and 2024 results will be above expectations

** Akros notes Webuild's order intake reached 5.5 billion euros ($6.0 billion) at the end of April, corresponding to around 50% of its FY revenue target

** Equita says 70% of Webuild's revenue comes from abroad, and the 30% coming from Italy represents a market share of under 2% for the company

** Equita compares this with French construction companies that have on average a domestic market share of 3%-10%

** Including Monday's rise, the stock has gained around 18% YTD

** Out of five analysts that cover Webuild, four rate the stock "strong buy"/"buy" and one "hold"

($1 = 0.9217 euros)