• NEW ORDERS ACQUIRED AND TO BE FINALISED YEAR-TO-DATE EQUAL TO € 2B; COMMERCIAL PIPELINE APPROXIMATELY € 35B, INCLUDING TENDERS PRESENTED AND AWAITING OUTCOME FOR OVER € 9B
• IMPORTANT CONTRIBUTION BY THE GROUP TO THE RELAUNCH OF STRATEGIC INFRASTRUCTURAL PROJECTS IN ITALY - OVER € 3.6B OF WORKS IN BACKLOG STARTED IN 2020
• BALANCED FINANCIAL POSITION
• ASTALDI ACQUISITION SUCCESSFULLY COMPLETED, COMPANY WITH A BACKLOG OF € 7.7 BILLION, NET EQUITY OF OVER € 1.11 BILLION AND OVER 15,000 EMPLOYEES, CREATING A LEADER IN ITALY, MAJOR PLAYER INTERNATIONALLY

MILAN, November 11, 2020 - The Board of Directors of Webuild (MTA: WBD) examined today the following data and information related to the Group’s business performance since the start of 2020.

In a very complex scenario amid the COVID-19 pandemic since the beginning of the year, Webuild acquired approximately € 2 billion in new orders and orders in the process of being finalised. It is also the best bidder for an additional € 0.2 billion in tenders and is pursuing significant commercial opportunities for € 35 billion.

The measures being proposed by the Italian government and those in other European and non-European countries to revive their respective economies and offset the effects of the pandemic should consist mainly in extraordinary investment plans with infrastructure amid the sectors that stand to benefit from them.

During the first nine months of the year, the Group contributed to the relaunch of strategic infrastructure projects in Italy worth more than € 3.6 billion, including the start of works on the first functional lot of the Verona-Padua high-speed/high-capacity railway for a total value of approximately € 2.5 billion, the Ionian Highway and the Genoa Railway Hub.

In addition, Webuild is continuing to work with customer Texas Central LLC to be able to start the Dallas-Houston high-speed rail project in the U.S. state – whose total investment is approximately $ 20 billion, an estimated $ 14 billion of which is related to civil infrastructure – after the enactment of two key U.S. federal measures.

No contracts were cancelled as a result of the pandemic, while the lower levels of production and subsequent lower margins forecast for 2020 are to be recovered in successive years. As of today, all construction sites are open even though not all of them have returned to production levels registered prior to the pandemic.

Webuild’s acquisition of Astaldi was successfully completed at the beginning of November through a cash capital increase reserved for the Group, enabling it to hold 66% of Astaldi's capital. The operation creates a larger and more solid Group that will not only be the leader in the Italian market but also one of the main players in the sector at the international level, ready to respond quickly to investment programmes promoted by national governments for large strategic infrastructure projects.

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NEW ORDERS AND COMMERCIAL PIPELINE

New orders acquired and in the process of being finalised since the beginning of the year amount to approximately € 2 billion. In addition, Webuild is also the best bidder for an additional € 0.2 billion in tenders.

Among the latest orders, the following have been awarded through the  U.S. subsidiary Lane: the 183A Phase III Project to extend a toll road in Texas for $ 176 million; and a $ 93-million contract to design and build the Poinciana Parkway Phase 2 in Polk County, Florida.

Furthermore, important projects in Italy have been restarted, including:

• Verona-Padua High-Speed/High-Capacity Railway: The IRICAV DUE consortium led by Webuild with a 83% stake (45,44% Webuild e 37,49% Astaldi) will build the first functional lot of the railway on the Verona-Bivio di Vicenza section in a contract worth approximately € 2.5 billion and commissioned by Rete Ferroviaria Italiana (FS Italiane Group). Work is to start immediately on a first construction lot for € 874 million.
• Ionian Highway: Webuild has started work on the € 980-million highway. Commissioned by ANAS, it is a key part of the development of mobility in southern Italy for a total investment of € 1.3 billion.
• Genoa Railway Hub: The project envisages the completion of civil works on the Colombo, San Tomaso and Polcevera tunnels for € 120 million in 30 months.

Activity for the start of works on the Dallas-Houston high-speed rail line continue with two key federal measures obtained from the Federal Rail Administration of the Department of Transportation: the Rule of Particular Applicability, which establishes the necessary requirements in terms of safety and the conditions to be respected for maintenance and operational activities; and the Record of Decision, which completes the process from an environmental point of view and confirms the path that the line will follow between the two cities.

The overall pipeline of the Group’s commercial activities is approximately € 35 billion and includes submitted tenders and awaiting outcome for over € 9 billion.

The Group has continued to invest in its commercial activity, despite the slowdown in the sector caused by the spread of COVID-19, thanks to increasingly accurate planning and more efficient processes. This has resulted in a decrease in the number of tenders being abandoned. There was also a greater commercial effort in scouting for new initiatives, leading to a substantial increase in the volume of offers compared with the previous year. The number of delays in the issuance of tenders due to the pandemic, as highlighted in the first half of 2020, increased considerably during the last quarter, reaching approximately € 20 billion of initiatives postponed beyond 2020. It should be noted that the government in Italy brought forward this year a number of projects initially scheduled for 2021 for a total of € 1.5 billion.

At a geographical level, offers were concentrated in Europe, North America and Australia.

Below is a breakdown of the commercial pipeline by category and geographical area. About 71% of the expected commercial activity is in low-risk regions where major infrastructure investment exists, such as North America, Europe and Australia where the Group's strategy is increasingly focused. Initiatives are focused on sustainable infrastructure projects, in particular sustainable mobility and clean water.<

1 Pro-forma data as at 30 June post-discharge and capital increase