Saipem in profondo rosso a Milano dopo i conti del primo semestre. Il titolo non è riuscito a fare prezzo in apertura e una volta entrato in contrattazione è crollato del 5,7% a 4.11 euro.
La società ha chiuso i primi sei mesi del 2026 con an adjusted net profit of 131 million of euros, down 6,4% compared to the 140 million euros of the same period in 2025. The results were impacted on the one hand by the EBIT, which was 240 million down 21,3%, on the other hand the worsening tax management for 15 million euros, offset by the effect of the improvement in the financial management balance for 28 million euros and the balance of equity investments for 8 million.
Il net result, equal to 96 million of euros, reflects non-recurring charges of 35 million euros compared to the adjusted net result, attributable to the accrual of costs for the early retirement plan signed with the trade unions in the fourth quarter of 2025.
Saipem: Revenue and EBITDA rise, orders grow 33%
I revenues rose to 7,345 billion (+1,9%), adjusted EBITDA increased to 836 million (+9,4%) while new orders acquired amount to 5,7 billion, up 33% compared to the same period of the previous year, in addition to 2,3 billion euros in orders already acquired in July.
As regards the second quarter, revenues are 3.817 million (+3,4%), adjusted EBITDA is 402 million (-2,7%) and new orders are approximately 4,1 billion.
Moving forward with the income statement, in the semester the net financial position The pre-IFRS 16 net financial position at June 30, 2026, is positive by €1.078 billion, an improvement of €79 million compared to December 31, 2025; while the post-IFRS 16 net financial position at June 30, 2026, is negative by €109 million, net of dividend payments of €330 million, an improvement of €163 million compared to December 31, 2025.
Saipem revises its adjusted EBITDA estimate downwards
Saipem has updated guidance for 2026, reviewing Estimates for adjusted EBITDA are down Expected at €1,75 billion; this reflects the additional costs already incurred in connection with the Middle East crisis, an estimate of additional costs that could impact the second half of the year, and the deconsolidation of shallow-water drilling activities following the completion of the sale.
Revenue estimate confirmed at 15,5 billion, while operating cash flow (net of rent) is expected to be around 1 billion euros, investments at around 450 million euros and free cash flow (net of rent) at around 600 million.
The company also specifies that on a commercial level, the results obtained in the first seven months of the year, together with the numerous opportunities under discussion, "strengthen our confidence in a 2026 order intake higher than 2025”.
