BAKU, Azerbaijan, October 31. In the third quarter of 2023, Italian energy services company Saipem recorded revenues of 3,016 million euros, marking a substantial increase of 5.6 percent compared to the corresponding period in 2022, when revenues stood at €2,856 million euros, Trend reports citing the company.
Saipem's adjusted EBITDA for Q3 2023 reached 230 million euros, a remarkable surge of 26.4 percent compared to the same period in 2022, where EBITDA was €182 million.
The company reported a positive net result of 39 million euros for the third quarter of 2023. This marks a significant improvement from the same period in 2022, when Saipem reported a net loss of 8 million euros.
As for the nine-month 2023 highlights, Saipem's revenue for the first nine months of 2023 totaled 8,363 million euros, representing a notable increase of 18.7 percent compared to the corresponding period in 2022, when revenue amounted to 7,043 million euros.
The company's adjusted EBITDA for the first nine months of 2023 amounted to 640 million euros, reflecting a substantial growth of 43.8 percent compared to the same period in 2022, when EBITDA was 445 million euros.
Saipem reported a positive net result of 79 million euros for the first nine months of 2023, a significant turnaround from the corresponding period in 2022 when the company faced a net loss of 138 million euros.
It secured new contracts worth 11,918 million euros for the first nine months of 2023, indicating an impressive increase of 72.1 percent compared to the corresponding period in 2022. Over 80 percent of these new contracts were in the offshore business, covering Engineering & Construction (E&C) and drilling activities.
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