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06 April 2020 The on-line newspaper devoted to the world of transports 16:05 GMT+2



February 26, 2020

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Strong growth in the economic and trade results of the Saipem

As of December 31, 2019, the value of the order book climbed to a record high of 24.78 billion euros

Saipem's Board of Directors approved the pre-year results for the year 2019, with revenues of 9.10 billion euros (up 6.7% on 2018), an EBITDA of 1.15 billion euros euro (up 35.1%), an operating profit of 456 million euros compared to 37 million in 2018 and a net profit of 12 million euros compared to a net loss of -472 million euros in the financial year previous yearly. Last year, the Italian company acquired new orders worth 17.63 billion euros compared to 8.75 billion in 2018. The value of the order book is increased to a record level of 24.78 billion euros (14.46 billion euros) December 31, 2018), inclusive of approximately 3.6 billion acquired by unconsolidated companies.

"Efforts over the past few years to achieve a solid and rigorous economic and financial balance - commented saipem's CEO, Stefano Cao - allowed all the targets to be exceeded in 2019. fixed with particular regard to net debt, which fell under EUR 500 million, a strong improvement Adjusted net income and higher adjusted EBITDA 11%. The profound transformation of the organisation management and the strong strategic focus to anticipate energy transition have allowed during the year excellent campaign to acquire new contracts and the reaching the record level of the backlog to which they contributed, with solid performance, all divisions. Such a repositioning is allowing Saipem to re-engage in a leadership role sector and to be prepared to proactively and with optimism of future challenges with the goal of creating value sustainable for stakeholders."

In 2020, Saipem expects to generate revenues of about 10 billion euros and adjusted EBITDA of more than 1.1 billion euros Euro.

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