Tuesday, November 5, 2024
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Saipem closes the third quarter with strong growth and improves its forecasts for 2024.

SaipamA company controlled by Eni with more than 21% share and active in the oil services and engineering infrastructure sector, presented. Third quarter results of the financial year and in the first nine months of the year, which is highlighted. Strong growth Economic Financial Indicators

Quarterly accounts

Il Third quarter ended with 3.7 billion in revenue of Euro, i A 23.1 percent increase Compared to about 3 billion euros in the same quarter of 2023. Adjusted EBITDA I reached 340 million In the third quarter, as a result A 47.8 percent increase compared to 230 million euros in the same period in 2023. The quarter closed with one 88 million net result euros, which compares to 39 million euros in the same quarter of 2023. Technology investments in the quarter were 52 million euros and compare to 67 million euros in the same period in 2023.

Double-digit growth in nine months

Third quarter Nine closes a very positive month. For the company, which has created a 10.1 billion turnover Euros, about 21 percent higher than in the same period of 2023 to about 8.4 billion euros, while Adjusted l’EBITDA. It is brought 905 million euros (equivalent to 8.9% of revenues), 41% higher than 640 million euros in 2023 (equivalent to 7.7% of revenues). gave The net result is more than double. to 206 million euros compared to 79 million euros last year. gave Technological investment They amounted to 246 million euros, a slight increase compared to 206 million euros in the same period in 2023. Net financial position after IFRS 16 Negative EUR 124 million (at 31 December 2023 it was negative EUR 261 million).

The order book is growing.

During the first nine months of 2024, Saipem acquired New orders totaled 13.5 billion euros, compared to the same period in 2023 when they were less than 12 billion euros. By 30 September 2024, Order Book Amount of 33.2 billion euros (€29.8 billion by 31 December 2023). Including non-consolidated companies, the order book amounted to EUR 33.4 billion as of September 30, 2024 (EUR 29.9 billion as of December 31, 2023).

2024 guidance improved.

In light of the results of the first nine months and the outlook for the current quarter, Saipem has revised its guidance to 2024.Expected to grow Income At the end of the year Above 14 billion of the euro, while EBITDA Expected by 2024. is over 1.3 billion. Euros and operating cash flow (net of repayment of leasing fees) is expected to exceed EUR 760 million. Capex for 2024 is expected to be below 400 million euros.

Saipam It also reaffirms its dividend policy. which includes distribution. About 30-40% free cash flow (net of repayment of leasing fees), with the first dividend to be paid in 2025 on 2024 results.

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