Like other European construction firms, Switzerland’s largest contractor, Implenia A.G., suffered sales and profit drops in this year’s first half because of the COVID-19 pandemic.
However, gains from its spin-off in June of half of its real estate portfolio resulted in a 39% rise in the contractor’s earnings before interest, taxes, earnings before interest, taxes, depreciation, and amortization (EBITDA) to $111.6 million.