Saipem Spa ( (SAPMY) ) has released its Q1 earnings. Here is a breakdown of the information Saipem Spa presented to its investors.
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Saipem SpA is a global leader in engineering and construction for the energy and infrastructure sectors, specializing in both offshore and onshore projects. The company is known for its commitment to technological innovation and sustainability, supporting clients in the energy transition towards Net Zero.
In the first quarter of 2025, Saipem reported a strong financial performance, achieving a net profit of €77 million, marking a 35% increase compared to the same period last year. This growth was driven by significant increases in revenue and EBITDA, as well as a robust cash flow generation.
Key financial highlights for the quarter include a 15.5% rise in revenue to €3,518 million and a 31% increase in adjusted EBITDA to €351 million. Saipem secured new contracts worth €2.1 billion, contributing to a substantial backlog of €33 billion, which provides excellent medium-term visibility. The company’s net cash position also improved significantly, with pre-IFRS 16 net cash standing at €968 million.
The company continues to focus on its strategic plan, with improvements noted in both Offshore and Onshore Engineering & Construction segments. Capital expenditure for the quarter was €105 million, with significant investments in Asset Based Services and Offshore Drilling.
Looking ahead, Saipem has confirmed its guidance for 2025, projecting revenues of approximately €15 billion and an EBITDA of around €1.6 billion. The company remains committed to its strategic objectives and is well-positioned to capitalize on future opportunities in the energy and infrastructure sectors.