BAKU, Azerbaijan, April 19. In the first quarter of 2023, revenues of Italian Saipem amounted to €2,582 million (€1,824 million in the corresponding period of 2022) and the adjusted EBITDA amount to €191 million (€115 million in the corresponding period of 2022), Trend reports with reference to the company.
The improvement is recorded in all the activities, mainly driven by Offshore sectors, as commented below in the subparagraph “Analysis by sector of activity”.
The adjusted net result from continuing operations was at breakeven (a loss of €80 million in the corresponding period of 2022). The positive change recorded in adjusted operating result (€76 million) is slightly increased due to the improvement in the balance of tax and financial operations totalling €4 million.
In the quarter, non-recurring expenses have not been recognised, and the result from discontinued operations is null. In the corresponding period of 2022, the net result from continuing operations showed a loss of €93 million and compared to the adjusted net result included costs deriving from the healthcare emergency of €13 million, while the net result from discontinued operations showed a loss of €5 million.
Revenues for the first quarter of 2023 for the Onshore Drilling business’ discontinued operations amounted to €41 million, and the EBITDA to €1 million.
The operating result in 2023 amounted to €1 million; financial expenses for €1 million bring the net result from discontinued operations to a null result.