Webuild shares rise following improved 2026 outlook, Trevi takeover bid
Webuild shares rise following improved 2026 outlook, Trevi takeover bid MILAN, July 30 (Reuters) - Shares in Webuild WBD.MI, Italy's biggest construction company, rose 4% in early trade on Thursday after it improved its 2026 guidance and unveiled a €295-million ($338 million) cash bid for smaller rival Trevi Finanziaria TFI.MI.
Shares in Trevi shot up 9% to €4.6.
Webuild is offering €4.5 a share, with an 8% premium versus Tuesday's closing price and a nearly 30% premium from the undisturbed closing price on June 26, Webuild said.
Webuild updated its 2026 outlook late on Wednesday ahead of an investor day in late September where it will present its 2026-2029 business plan.
It now expects 2026 revenue to exceed last year's €13.6 billion, compared to an earlier forecast that saw it matching 2025.
Core profit is seen above €1.2 billion for the year, versus €1.16 billion in 2025, with net cash exceeding €300 million.
CEO Pietro Salini said the order backlog provided certainty on the company's performance over the next three years, not just 2026, but the current geopolitical situation called for caution in giving investors precise targets.
"We're looking at the present turmoil as a tipping point in where the world is and giving precise numbers ... is unprofessional," he said.
Webuild hopes to have more clarity by September, Salini said. The builder is grappling with higher costs due to inflation.
Salini told an analyst call the group had €9 billion of commercial activities in areas potentially affected by the Middle East crisis.
Asked about reports of Webuild's interest in troubled rival Rizzani de Eccher, Salini said the company had to curb its appetite to protect its debt ratings.
($1 = 0.8731 euros)
(Reporting by Valentina Za; Editing by Joe Bavier)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))