Home » Saipem: stock leap, EBITDA exceeding expectations in the first quarter and orders on the rise

Saipem: stock leap, EBITDA exceeding expectations in the first quarter and orders on the rise

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Saipem: stock leap, EBITDA exceeding expectations in the first quarter and orders on the rise
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Saipem rally in Piazza Affari. In a cautious start to the session, the stock ranks at the top of the FTse Mib basket with a jump of more than 7 percentage points in the area. The purchases are triggered in the wake of the accounts released this morning.

In the first quarter of the year, Saipem reported an adjusted Ebitda of 145 million euro, a marked increase compared to the 88 million of the corresponding period of 2021 and above the consensus expectations, which stood at 95.2 million. The adjusted net result was also better than expected: the loss decreased from 105 to 85 million, doing better than the -97.4 million expected by the market.

During the first quarter, Saipem acquired new orders for a total of 2,356 million euros and the backlog as of March 31st amounted to 22,179 million, of which 6,596 million to be fulfilled during this year.

Saipem also announced that the capital and financial strengthening maneuver of the group is continuing in line with the schedule. The extraordinary shareholders’ meeting will be held on 17 May.

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