Business outlook for the balance of the current year

The important events that characterized the Group’s governance during the year, among which the completion of the merger between Salini S.p.A., the former controlling company and now the incorporated company, and Impregilo S.p.A., the incorporating company, and the resulting change in the Company’s name to Salini Impregilo S.p.A. represent a new and important milestone and will further strengthen the Group’s strategic position and competitive strength in its target markets over the medium term, consistent with the strategic guidelines and objectives of the 2014-2017 Industrial Plan approved in March 2014.

At the end of the first quarter of 2014, a truly outstanding order portfolio, both in qualitative and quantitative terms, and a well-balanced financial structure continue to be important growth and development factors that justify the Group’s confidence that the results projected for the subsequent periods of the current year will develop in accordance with the guidance recently provided to the market.

It is important to keep in mind that the Group still finds itself in a complex operational and judicial situation within the framework of criminal and civil proceedings related to the USW Campania Projects. Due to the particularly complex nature of the abovementioned proceedings, which involve government institution, regional administrations and provincial and municipal administrations in the Campania region, and the complexity of the related court procedures, the possibility of the occurrence of future events not currently foreseeable requiring a revisions of current valuations cannot be excluded.