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Energy: Renco’s financial report has a positive result for the year 2018

EBITDA (Earnings Before Interest Taxes Depreciation and Amortization)  and net profit on the rise for the Pesaro group in comparison to the financial report of 2017.

Rome, 01.06.2019 –  The Renco Group occupied in the Energy and Building sectors, with its seat in Pesaro with approximately 4000 collaborators/personnel on a global scale, has presented the financial statements of the year 2018. The Pesaro Group has closed the financial year 2018 with a production value of 243,2 million Euros, an EBITDA to the value of 38,45 million Euros (compared to the 32,98 of the previous year, +15,8%) and new investments to the total value of 29 million Euros. The net profit equal to 6.1 million Euros compared to the 1.5 million Euros for the year of 2017.

“The data corresponds to the budget forecast, even though there was a delay in the start-up of the Yerevan project – which Renco, in collaboration with Siemens, will execute the planning, construction and for 25 years the management of the power station, with a combined cycle of 253 MW”, as it reads in a communication released by Renco.

Among the most important projects, to be mentioned is the realisation of the Gas Compression Station of TAP Greece and Albania; the arrival terminal of TAP Italy; the EPC contract and operation and maintenance relative to the oilfield camp of Tengiz – one of the greatest oilfields in the world. The construction works of the Power Station in Sarir, in Lybia and the new Academy for the Italian Finance Guards of Bergamo (in joint venture with CMB).

Renco is present in 25 countries in the world, among these Armenia, Kazakhstan, Congo, Russia, Nigeria, Iraq, Canada and Greece. Amongst the Clients of Renco there are also Eni, ABB, Total, Exxon Mobil, Saipem, Repsol. Other than the Energy sector, Renco operates in the Construction, Infrastructure and Asset Management sectors.

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