BAKU, Azerbaijan, April 24. Italy’s Saipem company has achieved a positive adjusted net result from continuing operations, totaling €57 million in the first quarter of 2024, a noteworthy improvement from breakeven in the corresponding period of 2023, Trend reports with reference to the company.
The company recorded a positive change in adjusted operating result, amounting to €32 million, further bolstered by improvements in the balance of financial and tax operations totaling €25 million. Saipem's focus on operational efficiency and cost management contributed to this positive outcome.
In line with the corresponding period of 2023, Saipem reported null net results from discontinued operations in the first quarter of 2024. Revenue from the Onshore Drilling discontinued operations business amounted to €6 million, with an EBITDA of zero, reflecting the company's stable performance in this segment.
Saipem continued to invest in its future growth with capital expenditure totaling €92 million in the first quarter of 2024, compared to €77 million in the corresponding period of 2023. These investments were divided into €62 million in Asset Based Services, €3 million in Energy Carriers, and €27 million in Offshore Drilling, underscoring the company's commitment to enhancing its capabilities across key sectors.
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