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14 December 2018 The on-line newspaper devoted to the world of transports 17:43 GMT+1

March 6, 2018

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Original news
In the 2017 Saipem it has recorded a decrease of the -11,4% of the new orders

The exercise has been archived item with a net loss of -328 million euros

In the 2017 revenues of the Saipem they are diminished of the -9,8% coming down to 9,00 billion euros regarding 9,98 billion euros in the exercise anniversary precedence. The ETIDA adjusted is piled to 964 million euros (- 23.9%) and the operating profit has been of 120 million euros respect to an operating result of sign negative for -1,50 billion euros in 2016. The rectified operating profit has turned out of 440 million euros (- 24.4%). Consolidated financial statement 2017 of Saipem, that it is approved of yesterday by the board of directors of the company, records a net loss of -328 million euros respect to a net loss of -2,09 billion euros in the exercise precedence.

Last year the new acquired orders from the Italian company have been attested to 7,40 billion euros (- 11.4%). The value of the pocketbook orders on 31 December was pairs to 12,36 billion euros (4,64 billion euros in the Engineering & Offshore Construction, 5,94 billion in the Engineering & Construction Onshore and 1,78 billion in the Drilling) regarding 14,22 billion euros on December 31, 2016.

"The results of 2017, although lasting of a challenger market context - the managing director of Saipem has commented, Stefano Cao - they have confirmed the solid operating and managerial performance a many times over emphasized in the course of the year, having recorded a trend in constant decrease of the debit clearly and good contract acquisition new, above all in the second half of the year. The entrance operatively of the new business organizational model has allowed to identify ulterior luminosityen objectives in terms of increment of efficiency and effectiveness. The diversification of the operating proposal in new markets and the search of opportunity in new geographic areas they will contribute also to the creation of value for the stakeholder. In such context the recent agreement with Sonatrach joins also that closes the litigation and allows the recovery of the relationship with the Algerian historians partner and the return in a strategic market for Saipem".

ABB Marine Solutions
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