Saipem has released the preliminary financial results for 2022, the year closed with an improvement in turnover and profitability
Saipem has released the preliminary financial results for 2022, the year closed with a improvement of turnover and profitability.
Furthermore, Saipem has updated the strategic lines presented in March 2022, confirming the positive momentum of the market and the progressive improvement of the group’s performance.
Saipem, revenues and profitability in 2022
Saipem finished last year with revenues (from Continuing Operations) for 9.98 billion euro, an increase of 52.9% compared to the 6.53 billion obtained in the previous year; management reported that the improvement was recorded in all business sectors, mainly in the Offshore sectors, both Engineering & Construction and drilling.
Il adjusted EBITDA it returned positive for 595 million euros, compared to the negative value of 1.27 billion euros in 2021.
Il Net income it was negative by 209 million euros, compared to the red of 2.47 billion euros booked in 2021; The adjusted net result it was negative for 139 million euros.
Saipem, the numbers for the 4th quarter of 2022
The engineering firm ended the 4th quarter of 2022 with revenues for 2.94 billion, an improvement of 72.1% compared to 1.71 billion in the corresponding period of the previous year. The adjusted EBITDA returned positive for 150 million euros, while the adjusted net result it was negative for 38 million euros.
Saipem, debt at the end of 2022
A fine 2022 l’net financial debt of Saipem had fallen to 264 million euros, compared to 1.54 billion at the beginning of the year, benefiting from the resources collected from the capital increase concluded in July and from the sale of Onshore Drilling. At the same date, the company could count on liquidity of 2.69 billion euros.
During 2022 the technical investments (including the purchase of the seventh generation drillship Santorini,) rose to 523 million euros, compared to 246 million in 2021. The operating activities absorbed cash for 524 million euros.
Saipem, the order book at the end of 2022
During 2022 Saipem acquired new orders for a total of 12.94 billion euros, compared to the 6.95 billion of the previous year.
Consequently at the end of 2022 the order book amounted to 24.02 billion euros. The order book, including non-consolidated companies, amounted to 24.38 billion euro.
Saipem, the financial estimates for 2023-2026
Saipem has updated the strategic guidelines presented in March 2022confirming the positive momentum of the market and the progressive improvement of the group’s performance.