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Energy: Renco ends positively 2017

Turnover, EBITDA and investments increasing for the Pesaro Group

The Renco Group, active in the Energy and Construction sector with its operative seat in Pesaro with 4000 collaborators globally, presented its financial statements for the fiscal year 2017. The Pesaro Group ended the fiscal year 2017 with positive and growing financial statements: Consolidated Turnover of 248,7 million Euros, an Ebitda at 32,8 million Euro ( in comparison to the 27,5 million Euros of the previous year, +19,3%), New investments with a total value of 30,6 million Euros with an increase of 74,9% (in comparison to the year 2016 with a total of 17,5 million Euros).

“It was a very busy and challenging year, in which we carefully laid the foundations by taking Renco’s presence further into the world. Not all of the situations where easy to work in but many have witnessed that we are a reliable and serious company”, declared the Chairman of the Board of Directors of Renco, Mr. Giovanni Gasparini.

One of the most important projects we would like to mention is the realization of the Gas Compression Station in Albania and Greece “TAP”. The arrival of the terminal of TAP Italy; the EPC contract, operating and maintenance relative to the Tengiz Oil Field – one of the largest deposits in the world – of the Client TengizChevroil with a total value of 66 million Euro. Including the works for the construction of the Power Station in Sarir, in Libya.

“The financial statements for 2017 confirms one of the fundamental points of the industrial strategy of Renco, namely the decision to re-invest in the countries, in which the company is present, the income from where the core business is run. The data of the financial statements relative to the amount of investments made in 2017 and those foreseen for the years to come is clear proof of this strategy”, declared the CEO of Renco Mr. Giovanni Rubini.

Renco is present in 25 countries globally, among these, Armenia, Kazakhstan, Congo, Russia, Nigeria, Iraq, Turkmenistan, Canada and Greece. Some of the Clients of Renco, just to mention a few, Eni, ABB, Total, Exon Mobil, Saipem and Repsol. Apart from the Energy sector, Renco operates in the Construction, Infrastructure and Asset Management sectors as well.

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