Saipem revises revenue in 2023 and proclaims the return to the dividend in 2025 | EUROtoday

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Saipem closes 2023 with a return to revenue (179 million in comparison with a lack of 209 million the 12 months earlier than) and with all the principle economic-financial indicators exhibiting sturdy progress, ranging from the adjusted EBITDA up by 56%. , at 926 million), and by revenues which recorded a rise of 19%, to 11.8 billion. All due to the sturdy driving power of the final quarter, supported by the greater than optimistic efficiency of all offshore companies (each drilling and engineering and development), and an order consumption that CEO Alessandro Puliti defines as “unprecedented” and equal to round 18 billion (36.5% greater than 2022).

The return to the dividend in 2025

In quick, {a photograph} stuffed with lights which additionally characterizes the updating of the strategic plan. So a lot in order that the board of administrators additionally provides the inexperienced gentle to a dividend coverage which envisages a return to the dividend in 2025, primarily based on the outcomes anticipated in 2024, all revised upwards: revenues between 12.7-13.3 billion euros, a ebitda margin of round 10% and investments of round 440-480 million euros, with an working money circulate (web of rental funds) between 740 and 780 million. While, in 2027, the group expects to carry the acquisition of recent orders to round 50 billion (with a 3rd of the entire within the zero and low carbon segments) and to ensure a compound annual progress charge (CAGR) of revenues of 4- 5% within the interval 2023-2027, with an ebitda margin of roughly 12% on the finish of the plan and an working money circulate (web of rental funds) of roughly 3 billion euros. As for dividends, they are going to be equal to roughly 30-40% of free money circulate, all the time deducting rental funds.

Puliti: unprecedented order assortment in 2023

«2023 was an essential 12 months of progress and consolidation. In truth, with the dedication of all Saipem folks, we now have achieved the very best web revenue within the final ten years and we’ll shut 2023 with an unprecedented order consumption of 18 billion euros”; commented the CEO Alessandro Puliti who will illustrate the results to the market tomorrow, Thursday 29 February together with the CFO Paolo Calcagnini.

The CEO: we aim to improve the economic-financial targets

For the number one, the company's positive performance «was possible thanks to the trust of shareholders, customers and the contribution of the entire company, which worked to achieve a significant operational and financial turnaround. Our strategic plan and the favorable market context now allow Saipem to aim for a further improvement in its economic-financial objectives. Today we look to the future by focusing on excellence in project execution, operational flexibility and an integrated approach between business areas, further expanding our offering in the low and zero carbon segments.”