by Daniela Turri
Technical analyst of financial markets (futures, indices, shares, currencies, commodities, cryptocurrencies) and financial consultant. He bases his analyzes and projections on graphic reading, using various techniques as well as the general principles of graphic technical analysis. He also carries out training activities through webinars and seminars. Freelance journalist collaborates with La Verità.
SAIPEM is the undisputed protagonist of Thursday’s session with an excellent +13% after the communication of the 2023 results which finally see the return of profit for the energy company, which closed 2023 with a positive net result of 179 million euros. Revenues growing to 11.87 billion (+19% compared to the previous year) with new orders amounting to 18 billion. The rise continued even after the statement by CEO Puliti who, in the conference call following the results, declared that he expected a 20% drop in annual orders from Saudi Aramco (the Saudi state company has decided to abandon – or set aside for now – the plans to expand extraction capacity). However, this cut is already included in Saipem’s business plan (the company does not foresee effects on the medium-term strategy. It is worth remembering that in 2020 SAIPEM signed a 12-year agreement with Aramco for onshore engineering and construction activities, which led to the Italian company average annual orders of around 1.5 billion euros (2021/2023 period).
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