(Finance) – The half-yearly and quarterly results of Saipem highlight the continued growth in revenues and margins, the acceleration in cash generation and financial and equity consolidation.
In the first half of 2024, the Group achieved revenues equal to 6,418 million euros, +20% compared to the corresponding period of 2023; EBITDA adjusted: 565 million euros, +38% compared to the corresponding period of 2023.
In the second quarter of 2024, the Group’s results were equal to: Revenues: 3,371 million euros, +22% compared to the corresponding quarter of 2023; Adjusted EBITDA: 297 million euros, +36% compared to the corresponding quarter of 2023.
L’Net income in the first six months reaches 118 million euros, a strong increase compared to the 40 million euros of the same period of the previous year.
The cash flow net income stands at 178 million euros, a significant improvement compared to the first half of 2023.
THE contracts acquired in the first six months of 2024 amount to 7 billion euros, confirming the good market demand and the competitiveness of the Group’s offer, especially in offshore activities and large integrated projects.
The order bookequal to approximately 30 billion euros, and the robust commercial pipeline further increase visibility on the objectives of the 2024-2027 Strategic Plan.
Guidance confirmed for 2024.
There financial position pre-IFRS 16 net position at 30 June 2024 is positive for 394 million euros. The net financial position including the IFRS 16 lease liability, equal to 542 million euros, is negative for 148 million euros.