Construction

Grigolin Group in growth driven by Olympics and Pnrr

The company from Ponte di Piave (Treviso) has signed among others the completion of the Pedemontana Veneta and the Cortina d'Ampezzo Sliding Centre

11 December 2024

4' min read

Key points

Growth
Projects
Employment

4' min read

For the eighth consecutive year, the Grigolin Group - founded in 1963 in Ponte della Priula (Treviso) and now one of the leading national and European players in the building and construction materials sector - is set to close the year with double-digit growth.

As at 30 September 2024, consolidated turnover reached EUR 620 million, an increase of more than 10% compared to the same period last year, and Ebistda stable above 14%. Projections for the end of the year indicate a result close to EUR 850 million, in line with budget targets, while the Group's aggregate turnover will be close to EUR 1 billion.

The group includes companies active throughout the construction chain, including Superbeton, Fornaci Calce Grigolin, Nuova TesiSystem, Magnetti Building, and Brussi Costruzioni.

Grigolin

Growth

More than 70 per cent of total turnover comes from the sale of construction materials such as concrete, asphalt, cement, aggregates and premixed products. The precast division, which accounts for 23% of revenue, is distinguished by the construction of turnkey buildings in the industrial, logistics and tertiary sectors, but also for private residential use, as well as the production of substructure products. The remaining part of revenues comes from the realisation of large infrastructure works, both public and private.

A diversification that has enabled an effective and timely response to market dynamics, driven by the demand for private industrial prefabs, residential renovations fuelled by the 110% Superbonus and large projects financed by the NRP.

During the year, the Group invested to increase its production capacity, through greater territorial capillarity and the acquisition and expansion of production facilities. The investments - estimated at EUR 50 million - increased production capacity by about 15%. Central to this is product and process innovation, with the aim of responding more and more effectively to stakeholder needs and growing sustainability standards (an example is the launch of Clear Asphalt by SuperBeton, a solution designed to mitigate the effects of climate change, or Magnetti Building's investment in a new advanced production plant).

Tratta alta velocità ferroviaria Verona

Projects

Many strategic national works have been completed, especially in northern Italy. These include the completion of the Pedemontana Veneta, the construction of the railway link to Marco Polo airport in Venice, the new AFS railway line in Ferrara, and the tramway in Padua. Other significant works include the Sliding Centre in Cortina and the San Vito di Cadore road variant, linked to the 2026 Winter Olympics, the Fruit and Vegetable Market and the UpTown residential district in Milan, as well as the Bosco dello Sport at the gates of Venice airport and the Verona-Vicenza high-speed railway line.

Growth is also achieved through strategic acquisitions such as that of Ilcev, a Venetian company specialising in the production of concrete products, which joins the Group's already consolidated excellences: Veneta Prefabbricati, Magnetti Building and TesiSystem. The integration of these realities has made it possible to strengthen know-how and expand the Group's offer, with territorial coverage extending from Liguria to Friuli Venezia Giulia.

In this context, the entry also of Colorificio Sammarinese into the shareholding structure represents a further strategic step, expanding the Grigolin Group's presence in the sector of paints and coatings for industry and special finishes for racetracks and race tracks, already covered by the ArteMuri brand of Fornaci Calce Grigolin. This operation opens the door to the building chemicals sector, a segment of great interest that the Group intends to develop, activating synergies with the other realities of the production chain.

L’occupazione

Approximately 1,600 employees are currently employed, an increase of more than 10% compared to 2023. A further 100 new hires are planned for 2025, with strengthening the Group's presence in the regions of Central and Southern Italy among its priorities. The new investments, focused on the expansion of production capacity, will be implemented as early as the beginning of 2025, particularly in the region of Apulia.

For the future, 'the slight drop in the cost of money and the hoped-for stability of inflation linked to the costs of raw materials and energy resources are encouraging signs for a recovery in private investments, which have shown a slight contraction in recent months,' explains Roberto Grigolin, SuperBeton's sole director. 'We are carefully monitoring some unknowns, such as the impact of the end of the 110% Superbonus. However, our solid pipeline of orders in the precast sector and the completion of major public works allow us to look forward to the next two years with optimism'.

The scenario is also characterised by upcoming major events, such as the Olympics and the Pnrr-related investments, 'which have generated a significant boost to growth in the infrastructure sector. These initiatives have been positively reflected in the Group's results, further strengthening our market position. The construction sector is undergoing a complete transformation: in order to ensure its sustainable growth, we believe it is essential to take central measures that simplify bureaucracy, encourage the recruitment of skilled labour, and incentivise the training of new professionals, which are indispensable to ensure a stable and prosperous future for the sector,' he concludes.