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Webuild has improved its financial outlook for 2026 and announced a cash offer worth around USD 338 million to acquire Italian construction company Trevi Finanziaria. The revised guidance projects revenue, operating profit and net cash to surpass 2025 levels, supported by a strong order backlog. The company said it remains cautious about providing long-term financial targets due to geopolitical uncertainties and inflationary pressures. Webuild also indicated it would remain disciplined on acquisitions to safeguard its financial position despite market speculation over further takeover opportunities.
Italian construction company Webuild has raised its financial guidance for 2026 while announcing a cash offer worth EUR 295 million (around USD 338 million) to acquire smaller domestic rival Trevi Finanziaria. The developments were announced in the past week ahead of the company's investor day scheduled for late September, where it is expected to unveil its business plan for 2026-2029.
The announcements were positively received by investors. Webuild's shares rose around 4% in early trading, while Trevi's stock gained about 9% to EUR 4.6 per share.
Under the proposed acquisition, Webuild is offering EUR 4.5 per share for Trevi. The offer represents an 8% premium over Trevi's closing share price before the announcement and nearly a 30% premium compared to its unaffected closing price recorded before takeover expectations emerged in late June.
Webuild has also upgraded its expectations for the current financial year. The company now expects its 2026 revenue to exceed the EUR 13.6 billion reported in 2025, improving on its earlier forecast that projected revenue would remain broadly in line with the previous year.
The company also expects core operating profit to exceed EUR 1.2 billion during 2026, compared with EUR 1.16 billion in 2025. In addition, it forecasts net cash to surpass EUR 300 million by the end of the year.
Chief Executive Officer Pietro Salini said the company's strong order backlog gives confidence about business performance over the next three years, extending beyond 2026. However, he indicated that ongoing geopolitical uncertainties make it difficult to provide precise long-term financial projections at this stage.
Salini said the present global uncertainty represents a turning point and that issuing exact financial estimates under current conditions would not be appropriate. He added that the company expects to have greater visibility by its investor day in September.
The company continues to face cost pressures from inflation, which remain a challenge for the construction sector globally. During an analyst call, Salini said Webuild currently has around EUR 9 billion worth of commercial activities in regions that could be affected by the ongoing Middle East conflict.
Responding to market reports about a possible interest in troubled Italian construction company Rizzani de Eccher, Salini said Webuild would remain disciplined in pursuing acquisitions. He indicated that protecting the group's credit profile and debt ratings remains a priority, suggesting the company would avoid transactions that could weaken its financial position.
Webuild is one of Europe's largest engineering and infrastructure companies, with projects spanning transport, water, energy and civil infrastructure across several international markets. The company has focused on strengthening its order book and balance sheet in recent years while expanding its presence through selective acquisitions.
Source Reuters
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