Macroeconomic Scenario

The Salini Impregilo Group, established following the merger of two major Italian Groups, has become a global player in the field of large-scale infrastructures.

Therefore, the Group's baseline scenario is the intercontinental market of large heterogeneous and composite infrastructure. The lengthy macroeconomic recession experienced in the past 4-5 years, has affected almost all industrial/economic sectors. However, thanks to the limited volatility that characterizes the sector, the demand for large-scale infrastructures has not suffered a slowdown. As a matter of fact, complex infrastructures continue to represent a strategic priority for the growth of the national economies of most countries, both industrialized and emerging.

Over the period 2014-2017, in line with the findings of international studies, the aggregate demand in the construction sector at the global level is expected to be worth roughly €35,200 billion. Of the total market, about 65% will be represented by the development/construction of residential and commercial buildings (€22,900 billion), while the remaining 35% (€12,300 billion) by the development of infrastructures.

It is also estimated that roughly 70% of the investments in infrastructure (€8,500 billion) will be made in business sectors - hydraulic projects, roads and railways and large civil projects - in which Salini Impregilo currently operates, while it is reasonable to assume that, over the 2014-2017 period, a significant part of these projects, estimated at about €550 billion, could be completed in the countries where the Group currently operates, or where it intends to extend its operations.