Italy's Webuild Q1 new orders top target for whole of 2023

(Reuters) - Italy's largest construction company Webuild said on Thursday it had already surpassed its 2023 target for new orders as the group booked in contracts for over 11.4 billion euros ($12.55 billion) in the first three months of the year.

That was more than double last year's first-quarter figure of 5.3 billion euros and included 6.3 billion euros worth of projects for which Webuild was selected as the preferred bidder, the company said in a statement.

The group said its commercial pipeline totalled 41.7 billion euros as of the end of March.

Webuild confirmed its 2023 outlook, which sees revenue of between 9 billion-9.5 billion euros and core profit in a range of 720 million-760 million euros.

($1 = 0.9082 euros)

(Reporting by Alberto Chiumento, editing by Federico Maccioni and Susan Fenton)