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ISIN code: IT0005252140
Sector: Industrial services
Industry: Contract drilling
Le actions of Saipem are listed on the Italian market with the ticker SPM.
View the stock's price history at the Milan Stock Exchange
Company Description
Saipem SpA is an Italian company which operates in the provision of services for the energy and infrastructure sector. It is present in 62 countries around the world, on five continents, and has 32.000 employees. The company is one of the world's leading service providers in the infrastructure construction and maintenance sector serving the energy industry.
Saipem is organized into five business divisions: commercial policies, project execution, technology, innovation, business strategies and partnerships.
Its order book is mainly linked to projects in the gas, renewables and energy transition sectors.
The largest revenues (90,3% of the total) come from engineering, construction and installation services; the rest of the revenues comes from drilling services (9,7%). Geographically, the turnover comes from: Italy (4%), Europe (4,4%), the Middle East (34,4%), the Americas (21,3%), Africa (16,1%), Eurasia (10,8 .9%) and the Far East (XNUMX%).
Saipem is listed on the FTSE MIB index of the Milan Stock Exchange. It is also part of the Dow Jones Sustainability Index and FTSE4Good.
The share capital of Saipem SpA as at December 31, 2020 amounts to Euro 2.191.384.693, divided into no. 1.010.977.439 shares with no par value, of which 1.010.966.841 ordinary shares and 10.598 savings shares. The shares are indivisible and each share gives the right to one vote.
Saipem is jointly controlled by Eni Spa and CDP Equity Spa.
- shareholders holders of shares exceeding 3% of the capital of Saipem SpA are:
- Eni SpA 30.54%
- CDP Industria SpA 12.55%
- Marathon Asset Management Limited 5.65%
- Eleva Capital SAS 3.07%
Among other shareholders we find:
- Saipem 1,72%
- The Vanguard Group, 1,63%
- Unicredit, 1,00%
- Bank of Italy, 0,82%
- Dimensional Fund Advisors LP 0,81%
- Cobas Asset Management SGIIC SA 0,55%
The remainder is given by the stock market.
Turnover in 2020 was 7.432 million euros with a profit at a loss of 268 million euros.
Economic and financial analysis of the company
Saipem acronym of "Italian Share Company Drilling and Assembly" was founded in 1957 by Enrico Mattei. Saipem was born from the merger of Snam Montaggi with the SAIP, a privately held drilling company. Snam Montaggi had previously been spun off from Snam in 1956.
The company becomes a pioneer in offshore drilling and pipeline construction in Europe. He began drilling for oil in 1959 off the coast of Gela. In 1960 he started the construction of the gas pipeline Central European Line, which goes from the port of Genoa to West Germany.
In 1983 he completed the construction of the trans-Mediterranean gas pipeline, which connects Algeria to Italy.
Between 1995 and 1999 Saipem was the main contractor for the construction of the gas pipelines Europipe I and Europipe II, which connect Norway to Germany.
From 2001 to 2003 Saipem built the offshore section of the Blue Stream, pipeline transporting natural gas from Russia to Türkiye.
In 2002 it acquired the Buoygues Offshore for 1 billion dollars.
In 2006 it acquired the Snamprojects (definitively incorporating it in 2008), leader of onshore projects in the sector.
in 2016 Eni sells a 12,5% stake in Saipem (retaining a 30% stake) which is acquired by CDP Equity.
In recent years, Saipem has opened up to the renewable energy market.
In 2019 Saipem enters the wind energy sector through an agreement with Kite Gen.
In 2020 it acquired the CO2 solution, a Canadian company that owns technologies related to the capture of CO2.
In June 2021 complete the acquisition of the assets of Naval Energies thanks to which it strengthens its position in the offshore renewable energy market and in particular in floating wind power.
In July 2021 launches the SUISO project which integrates floating wind, floating solar and marine energy.
Saipem is in possession of different fleets for FPSO (production, storage and offloading), drilling and construction activities. The Saipem 7000, the third largest crane vessel in the world.
The latest news on Saipem
Saipem on the roller coaster after the first quarter accounts. Profits of 57 million and an adjusted ebitda of +40%
The company led by Alessando Puliti has already acquired orders for 29 billion. New bonds of up to 3 billion are planned. Here's what analysts think
Saipem appointments, from Eni and Cdp joint list for the renewal of the board of directors: Serafin president and Puliti CEO
The Saipem shareholders' meeting called for May 14th is called to renew the board of directors
Stock market closes April 12: record gold but Wall Street slows down European stock markets. In Milan Saipem, Eni and Enel did well, Stellantis and Tim did poorly
The persistent uncertainties about rates penalize America more than Europe, where only London shines
Latest stock market news: industry plus economy in the US and EU are improving but the stock lists are all in the red. The soft correction is underway
Industry awakens, pushing the economy. Gold and oil are also advancing
Stock market closes March 25th: Piazza Affari (+0,86%) once again queen of Europe in the wake of Saipem and Tim
Piazza Affari is once again the best stock exchange in Europe in a record quarter. The American stock markets, however, moved little