MILAN – Account in red and a mountain of debts for the Impregilo, the construction company controlled by the Gemina of Cesare Romiti. The group closed 2000 with a net loss of 80 million euros (over 150 billion) against a profit of 19.8 million euros in the previous year. This result was achieved after “an assessment carried out with highly prudential criteria of the receivables and claims entered in the financial statements and those due with reasonable certainty”. This, the company explained, led the directors to deduct 140 million euros from the consolidated operating operating income, equal to 101 million euros. In short, a veritable clean-up operation that confirms the rumors circulated in recent months that spoke of an order portfolio littered with receivables of uncertain collectability. Piergiorgio Romiti, managing director of Gemina, has preferred to pass the towel immediately and translate the risks into certain losses, entering them in the balance sheet. Of course, the company is betting that the budget will be in surplus next year, but according to analysts the next few months will be decisive for assessing the quality of the company’s gigantic order book. Which, last year, recorded a production value of 2.132 billion euros, a slight increase, and made acquisitions of new works, concessions and services for 4.2 billion euros. But the other “sensitive” figure in the Impregilo financial statements is that relating to debts: the net financial position is in fact negative for 780 million euros, approximately 1,500 billion. Despite all this, the Romiti think they will exercise the option granted by Fiat to Gemina to take on another 5% of Impregilo. “The option is under discussion these days,” Romiti said. If it decides to complete the purchase, Gemina’s share will rise to around 20%. Romiti ruled out the possibility of new shareholders for Gemina, while it confirmed that in June the search for a partner for the Aeroporti di Roma will start (Gemina controls 42% of the controlling company Leonardo).