Italian vitality trade contractor Saipem SpA has reported a internet revenue of EUR 118 million ($128 million) for the primary half of the yr, versus EUR 40 million ($43.4 million) for the corresponding interval of 2023. The corporate mentioned in a report {that a} EUR 61 million ($66.2 million) internet revenue was recorded for the second quarter, versus EUR 41 million ($44.4 million) for the second quarter of 2023.
Income for the primary six months of 2024 totaled EUR 6.4 billion ($6.9 billion), up from EUR 5.3 billion ($5.8 billion) for the primary six months of 2023. The outcomes had been propped up by the corporate’s offshore division, within the engineering, development and drilling departments.
The corporate mentioned that its adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) stood at EUR 565 million ($612.8 million), equal to eight.8 % of income.
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Saipem mentioned that its capital expenditure for the primary six months of the yr amounted to EUR 194 million ($210.4 million), EUR 102 ($110 million) of which got here from the second quarter.
The corporate mentioned it has introduced in over EUR 7 billion ($7.6 billion) price of latest contracts within the first six months of the yr, most throughout the second quarter. New contracts pushed the corporate’s backlog as much as EUR 30.5 billion ($33 billion) as of June 30, 2024. EUR 6.6 billion ($7.2 billion) price of contracts within the backlog are to be executed in 2024, Saipem mentioned.
Asset-based providers have a backlog of EUR 16.3 billion ($17.7 billion), vitality carriers have a backlog of EUR 12.5 billion ($13.5 billion) and EUR 1.7 billion ($1.8 billion) price of offers are from the offshore drilling division.
The corporate mentioned it’s on monitor to satisfy its 2024 steerage and medium-term targets.
To contact the writer, e-mail andreson.n.paul@gmail.com
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