Webuild (WBD) Q3 2025 earnings summary

Executive summary

• New orders year-to-date reached €9.3 billion, with the majority from low-risk countries and a commercial pipeline of €77 billion, providing strong revenue visibility for the next business plan.

• The 2023-2025 business plan is set to close with operational results and acquired orders well above targets, exceeding the plan's order intake target by nearly €10 billion.

• Major projects delivered include the Grand Ethiopian Renaissance Dam and the Riachuelo wastewater treatment plant, reinforcing leadership in large, complex infrastructure, especially in the water sector.

• Over 11,000 hires in the first nine months, with a total workforce of about 95,000.

Financial highlights

• Order intake for the 2023-2025 period totals approximately €45 billion, surpassing targets.

• As of June 30, 2025, the order backlog stands at approximately €59 billion.

• 2025 guidance confirmed: revenues expected to exceed €12.5 billion, EBITDA above €1.1 billion, net cash position over €700 million, and book-to-bill ratio greater than 1.0.

Outlook and guidance

• Positive operating trends suggest potential further upside to growth.

• Market environment remains rich with opportunities, supporting the confirmed 2025 financial guidance.