Italy · Delayed Price · Currency is EUR Saipem SpA Earnings Call Transcripts
Fiscal Year 2026
-
Q1 2026 saw stable revenue and strong EBITDA growth, with robust cash flow and a solid net cash position. Guidance for 2026 is confirmed, supported by resilient operations, a healthy order pipeline, and continued strength in the Middle East and Africa.
Fiscal Year 2025
-
Q4 and full-year 2025 saw strong revenue and EBITDA growth, robust cash flow, and high order intake, with 2026 guidance supported by a record backlog and high fleet utilization. Offshore E&C remains a key growth driver, while legacy project risks are diminishing.
-
Strong revenue and EBITDA growth continued in Q3 2025, with robust cash flow and a fully booked construction fleet for 2026. Backlog and commercial pipeline provide high visibility, while guidance for 2025 is confirmed and lease liabilities are expected to plateau.
-
Strong H1 2025 results with double-digit revenue and EBITDA growth, record cash flow, and robust backlog ensure high visibility for 2025–26. Asset-light strategy and selective bidding support resilience amid market uncertainties.
-
Q1 2025 saw record revenue (€3.5B, +15% YoY), EBITDA (€351M, +31% YoY), and strong cash flow, with a robust backlog covering 90% of 2025 revenue. Strategic focus on de-risked, energy transition projects and improved credit ratings support a positive outlook.
-
A merger between two major offshore energy service providers will create a global leader with a complementary fleet, strong financials, and a balanced 50/50 ownership. The deal targets €300 million in annual synergies, aims for investment-grade ratings, and expects completion in the second half of 2026, pending regulatory and shareholder approvals.
Fiscal Year 2024
-
Record 2024 results with revenue up 23% and EBITDA up 44%, driven by offshore E&C and strong cash flow. Backlog at €34 billion, 2025 guidance targets €15 billion revenue and €1.6 billion EBITDA, with robust capital discipline and focus on energy transition.
-
Record Q3 results with all-time high order intake, revenue, and EBITDA, driven by offshore E&C. Upgraded 2024 guidance reflects strong backlog and cash flow, with robust demand and tight vessel market supporting multi-year visibility.
-
Revenue and EBITDA grew strongly in H1 2024, driven by offshore activities and record order intake. Cash flow and net financial position improved, with a robust backlog and de-risked contract model supporting positive outlook and 2024 guidance.