(Alliance News) - Franchetti Spa reported Wednesday that it won orders worth EUR7.5 million in the fourth quarter, including EUR5.6 million in Italy alone.

The group's order backlog as of Dec. 31, 2022, amounted to about EUR20 million, registering a higher-than-expected increase of 30 percent compared to last September's survey and enabling it to extend revenue visibility into fiscal year 2025.

"We are observing a wave," commented Paolo Franchetti, founder and CEO of Franchetti, "that of the growing concern about the life cycle of bridges and large infrastructures in large industrialized countries. According to our estimates, the projected investment in large infrastructure maintenance in Italy alone in 2023 is more than EUR1 billion."

"In our portfolio, we have inspection, digitization, long-term monitoring, and strategic and sustainable infrastructure management of major market players in Italy and Brazil. A very diversified portfolio that allows us to observe the important change of strategy by the major operators in infrastructure that cannot be separated from a more accurate resource allocation and long-term planning to prevent and manage the progressive deterioration of major works."

Franchetti's stock is up 4.8 percent at EUR3.27 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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