(Finance) – Saipema services and solutions company for the energy and infrastructure sector, has closed i first nine months of 2024 with revenues to 10,130 million euros (8,363 million euros in the corresponding period of 2023), of which 3,712 million in the third quarter (3,016 million euros in the corresponding quarter of 2023).
THE’Adjusted EBITDA was 905 million euros equal to 8.9% of revenues (640 million euros in the corresponding period of 2023 equal to 7.7% of revenues), of which 340 million in the third quarter (vs 230 million). The net result was 206 million euros (vs 79 million), of which 88 million in the third quarter (vs 39 million).
There Net financial position pre-IFRS 16 at 30 September 2024 is positive for 509 million euros, an improvement of 293 million euros compared to 31 December 2023; the post-IFRS 16 Net Financial Position is negative by 124 million euros, an improvement of 137 million euros compared to 31 December 2023.
The order book amounts to 33,194 million euros (29,802 million euros as of 31 December 2023), which increases to 33,407 million euros including the order book of non-consolidated companies (29,892 million euros as of 31 December 2023).
Saipem has improved guidance for 2024. Revenues for 2024 are expected to be greater than 14 billion euros, EBITDA for 2024 is expected to exceed 1.3 billion euros, Operating Cash Flow (net of reimbursement of leasing fees) for 2024 is expected to exceed 760 million euros and Capex for 2024 is expected to be less than 400 million euros.
Saipem confirms its dividend policy which provides for the distribution of approximately 30-40% of the Free Cash Flow (net of reimbursement of leasing fees), with the first dividend expected to be paid in 2025 on the 2024 results (subject to approval by the Board of Directors and approval by the Shareholders’ Meeting).