BAKU, Azerbaijan, July 30
By Leman Zeynalova – Trend:
Saipem expects up to 5 billion euros worth revenues as of 2021, Trend reports with reference to the company.
Saipem is a leading Italian company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSight, dedicated to conceptual design). It is present in over 70 countries worldwide and has 33 thousand employees of 120 different nationalities.
“2021 remains conditioned by the uncertainty resulting from the persistence of the pandemic. In the first half of the year, the health crisis effects on business coupled with issues on a project specific impacting operational performance. The business outlook for 2021 inevitably remains influenced by these events. Outlook for the second half of 2021: revenues of between €4.5 and €5 billion; positive adjusted EBITDA; capital expenditure expected between €200 and €300 million and net debt post-IFRS 16 around €1.6 billion at year end. This scenario does not account for a further and possible deterioration of the macroeconomic and business environment following, for example, the intensification of the Covid-19 epidemic,” said the company.
In the first half of 2021, Saipem’s revenues stood at €3,200 million (€3,675 million in the first half of 2020); adjusted EBITDA: negative for €266 million (positive for €355 million in the first half of 2020); adjusted net result: loss of €656 million (loss of €132 million in the first half of 2020); EBITDA: negative for €389 million (positive for €271 million in the first half of 2020); net result: loss of €779 million (loss of €885 million in the first half of 2020); capital expenditure: €135 million (€195 million in the first half of 2020); net debt inclusive of IFRS 16 lease liabilities: €1,397 million (€1,226 million as at 31 December 2020).
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