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Webuild sees 2021 revenues growing to 6.5-7.2 billion euros with Astaldi merger

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MILAN (Reuters) - Italy's largest construction company Webuild said on Monday it expects core profit margins at 8% and revenues to grow to 6.5-7.2 billion euros ($7.7-8.6 billion) this year after the planned merger with Astaldi.

Webuild will acquire the remaining 34% of Astaldi to complete their merger by July, after taking control of the rival group under a state-backed plan dubbed "Project Italy" aimed at reviving the country's ailing construction industry.

Webuild, which is proposing a dividend of 0.055 euros per share, said 2020 adjusted revenues were stable at 5.3 billion euros and adjusted core earnings grew to 779.1 million euros last year. The adjusted results took into account Astaldi for two months of the year.

(Reporting by Elisa Anzolin, editing by Giulia Segreti)