Webuild
Webuild S.p.A. is an Italian multinational engineering and construction company specializing in the design, construction, and management of large-scale infrastructure projects, including sustainable mobility systems such as railways, metros, bridges, and roads; hydropower plants; water treatment and management facilities; and green buildings.[1][2] Headquartered in Milan, the firm operates as a general contractor in competitive global markets, emphasizing complex works that support environmental sustainability and infrastructural growth across five continents and approximately 50 countries.[3][4] Formerly known as Salini Impregilo, Webuild rebranded in 2020 following a corporate restructuring aimed at consolidating its position in Italy's construction sector, with origins tracing back to Italian engineering firms established in 1906.[5][6] The company employs advanced engineering expertise in demanding environments, having delivered projects like metro networks in Milan, Rome, and Paris; hydroelectric dams; and highway expansions, often leveraging tunnel boring machines and hydraulic technologies for efficiency.[7][8] Its portfolio underscores a commitment to innovation in sectors vital for economic connectivity and resource management, earning recognitions such as high sustainability ratings from Europe's Climate Leaders and CDP assessments.[9] Webuild's operations have not been without challenges, including protracted international arbitrations over contract breaches—such as winning over $147 million from Argentina in 2025 for a highway and bridge project—and a 2023 Italian prosecutorial probe into a Genoa dam procurement process amid allegations of irregularities.[10][11] More recently, in September 2025, the company faced accusations in Australia of concealing worker exploitation on the Sydney Metro airport line, highlighting ongoing scrutiny of labor practices in its global supply chain.[12] These incidents reflect the high-stakes nature of megaproject execution, where geopolitical risks and regulatory demands intersect with technical prowess.[13]History
Origins and Early Development
The origins of Webuild trace to early 20th-century Italian construction firms that specialized in civil engineering and infrastructure, particularly Girola S.p.A. and Lodigiani S.p.A., both established in 1906. Girola was founded by Umberto Girola in Piacenza, initially undertaking local building projects in northern Italy.[14] Similarly, Vincenzo Lodigiani founded his company in Milan, focusing on regional construction works that supported the nascent Italian state's infrastructure needs.[14] These enterprises emerged amid Italy's post-unification push for modernization, emphasizing practical engineering for roads, buildings, and basic connectivity.[15] Early development involved expansion into larger-scale projects, including railways and bridges critical to national integration. Lodigiani, for instance, began work on the Recco Bridge in 1914, completing it in 1922 as a key Ligurian coastal link, and contributed to the Parma-La Spezia and Genoa-La Spezia railway lines in the 1920s, enhancing industrial transport corridors.[16][17] Girola participated in post-World War I civil works, building expertise in complex earthworks and structures that positioned it for hydroelectric and dam projects.[15] These efforts, rooted in family-led operations, prioritized durable infrastructure amid economic challenges, with both firms growing through domestic contracts that numbered in the dozens by the interwar period.[18] Parallel to these, the Salini lineage began in 1936 when Pietro Salini established a construction business in Italy, initially targeting hydroelectric developments and re-established in 1956 under family continuity.[19] Salini's early focus on water-related infrastructure complemented the broader sector, executing regional dams and power facilities that aligned with Italy's electrification drive.[20] Collectively, these independent entities—operating without formal alliance until later decades—built foundational capabilities in tunneling, bridging, and heavy civil works, amassing experience equivalent to over a century of combined operations by the time of subsequent integrations.[5]Key Mergers and Expansion
In 2014, Salini S.p.A. merged with Impregilo S.p.A. to form Salini Impregilo S.p.A., creating one of Europe's largest construction groups with combined revenues exceeding €4 billion and a focus on international infrastructure projects.[21] This merger integrated Salini's expertise in civil works with Impregilo's strengths in large-scale dams and tunnels, enabling expanded operations across Africa, the Middle East, and the Americas.[21] The group pursued international growth through targeted acquisitions, notably purchasing Lane Industries Inc. in 2015 for approximately $406 million, which strengthened its U.S. presence in highway and bridge construction.[22] Lane, a leading asphalt producer and contractor in the Northeast, added specialized capabilities in road infrastructure and boosted the group's North American backlog.[23] Domestically, Salini Impregilo launched Progetto Italia in 2018 to consolidate Italy's fragmented construction sector amid financial distress in competitors.[6] Key to this was the 2020 acquisition of a 65% stake in Astaldi S.p.A. via a €225 million capital increase, integrating Astaldi's expertise in complex projects like rail and hydropower while forming a group with over 70,000 employees and a €40 billion order backlog.[24] This move, alongside earlier buys like Cossi Costruzioni in 2019 for tunneling enhancement, fortified the Italian base and supported global bidding competitiveness.[25] Further expansion occurred in 2023 with the acquisition of Clough Limited's assets in Australia and Papua New Guinea for €23 million, securing a €4 billion backlog including the Snowy 2.0 hydropower project and preserving 1,100 jobs.[26][27] This enhanced Webuild's Oceania footprint, building on prior ventures in energy and mining infrastructure.[28]Rebranding and Modern Era
In early 2020, Salini Impregilo's board of directors proposed changing the company's name to Webuild S.p.A. as part of a strategic shift to consolidate and revitalize the Italian construction sector under the "Progetto Italia" initiative.[29] [30] Shareholders approved the rebranding on May 4, 2020, with the new name becoming effective on May 14, 2020, accompanied by the slogan "bigger, stronger and ready to serve the nation."[31] The change aimed to emphasize the company's enhanced scale, global expertise, and renewed commitment to Italian infrastructure development, including support for employment in a sector contributing 8% to Italy's GDP.[29] [32] Following the rebranding, Webuild completed the acquisition of a 65% stake in Astaldi S.p.A. on November 5, 2020, through a capital increase, marking the culmination of Progetto Italia's efforts to rescue the distressed Italian contractor and integrate its assets.[24] This transaction, initiated with an offer in February 2019, strengthened Webuild's domestic portfolio by absorbing Astaldi's ongoing projects in high-speed rail and other public works, while aiming to preserve jobs and stabilize the national industry.[33] By March 2021, Webuild proceeded with a merger and partial spin-off of Astaldi's debt, completing the integration by July 2021.[34] In the modern era post-2020, Webuild has prioritized large-scale infrastructure in Italy, such as the completion of the Polcevera Viaduct in Genoa and advancements in high-speed rail lines like the Terzo Valico dei Giovi, alongside international expansions including contracts in the United States and Canada.[35] The company reported €7.5 billion in new orders by June 30, 2024, exceeding 65% of its annual target, with over half from international markets, reflecting robust financial performance and a backlog supporting sustained operations.[36] Sustainability efforts advanced, with 100% waste reuse at sites in 2020 and ongoing innovations in construction technology.[37] In 2025, Webuild launched the "Evolutio" exhibition in Rome to highlight infrastructure's role in Italy's progress over 120 years.[38]Corporate Structure and Operations
Business Segments and Capabilities
Webuild operates in four primary business segments: sustainable mobility, clean hydro-energy, clean water, and green buildings, each emphasizing the design, engineering, and construction of large-scale, complex infrastructure projects.[39][40] The company's capabilities center on engineering, procurement, and construction (EPC) contracts, incorporating advanced techniques such as tunnel boring machines (TBMs) for tunneling, sustainable design principles aligned with UN Sustainable Development Goals, and integrated project management to deliver projects on time and within budget.[41][40] In the sustainable mobility segment, Webuild constructs transportation infrastructure including metros, railways, high-speed rail lines, roads, motorways, bridges, ports, and tunnels, with a focus on reducing carbon emissions and improving connectivity.[42] This segment leverages the company's historical expertise, having built over 14,140 kilometers of railways and 3,408 kilometers of tunnels globally.[41] The clean hydro-energy segment involves the development of dams and hydroelectric plants to generate renewable energy, drawing on capabilities in large-scale hydraulic engineering and power infrastructure.[39] Webuild has contributed to projects enabling up to 52,900 megawatts of hydroelectric capacity.[41] Within clean water, the company executes desalination plants, water treatment facilities, wastewater management systems, hydraulic works, and irrigation dams to optimize water resource management and supply.[43] This includes serving populations exceeding 20 million through desalination initiatives.[41] The green buildings segment encompasses sustainable civil and industrial structures, airports, stadiums, and hospitals, incorporating energy-efficient designs and certifications such as LEED.[39] Capabilities here extend to hyperbaric excavation and AI-assisted tools for enhanced safety and efficiency, with a workforce of approximately 31,500 employees supporting operations across 50 countries as of 2024.[41]Global Footprint and Workforce
Webuild maintains a presence across five continents, with historical involvement in infrastructure projects in 110 countries and active operations in over 50 countries as of 2024.[44][45] The company's global reach is supported by approximately 80 offices worldwide, facilitating execution of 148 ongoing projects that span transportation, hydropower, and urban development sectors.[44] Key operational hubs include its headquarters in Milan, Italy, where it leads domestic infrastructural initiatives, alongside subsidiaries such as The Lane Construction Corporation in the United States for North American projects and Clough Group in Australia for Oceania activities.[46][44] Presence extends to Europe, the Middle East, Latin America (including Argentina, Chile, Colombia, Paraguay, and Peru), Africa, and Asia Pacific, with strategic focus on high-growth markets for sustainable infrastructure.[47][48] The workforce comprises more than 92,000 direct and indirect employees as of 2024, drawn from over 125 nationalities, reflecting the multinational nature of its operations.[45] Direct employees total approximately 43,000, with significant hiring in 2024 exceeding 10,000 globally to support project expansion, including 2,500 in Italy and 80% in southern regions.[4][49] This structure enables localized expertise while adhering to international standards for social and environmental compliance in diverse markets.[47]Financial Performance and Strategy
Webuild's financial performance has demonstrated consistent growth, driven by a robust order backlog and execution of large-scale infrastructure projects. In 2024, the company reported revenues of €12 billion, marking a 20% increase from €9.994 billion in 2023, which itself rose from €8.163 billion in 2022.[50][51] EBITDA reached €967 million in 2024, up from €819 million in 2023, reflecting improved operational margins amid higher project volumes.[50][52] Net profit stood at €247 million for the year, supported by a net cash position of €1.445 billion, which provided liquidity for ongoing investments and a proposed dividend of €0.081 per ordinary share.[50][53]| Year | Revenues (€ billion) | EBITDA (€ million) | Net Profit (€ million) | Order Backlog (€ billion) |
|---|---|---|---|---|
| 2022 | 8.163 | Not specified | Not specified | Not specified |
| 2023 | 9.994 | 819 | Not specified | Approximately 58 |
| 2024 | 12 | 967 | 247 | 63 |