Saipem closes on third quarter with positive numbers. The plant engineering company of the Eni group collected a profit of 249 million euros, 10,7% more than in the same period last year. Between January and September, profit reached 722 million euros, for an increase of 8,9% on an annual basis.
Acquisition of new orders in the first nine months of 2012 amounted to 9.140 million euros (8.777 million euros in the first nine months of 2011) and the residual order backlog at September 30, 2012 amounted to 18.911 million euros (20.323 million euros as of June 30, 2012). Technical investments amount to 778 million euros (818 million euros in the same period of the previous year).
For forecasts, Saipem confirms the expectations of higher results compared to 2011: “The weak demand for gas in the Eurozone – explains the company – has led to the postponement of both important development projects and the construction of transport infrastructures destined for the European market. The expected sanctioning of projects, particularly in West Africa, together with the new contracts acquired in October, nonetheless lead us to expect a good trend in the acquisition of new orders during the fourth quarter”.
The company therefore confirms “the guidance for the 2012 financial year of revenues of approximately 13 billion euros, Ebit of approximately 1,6 billion euros and net profit of approximately 1 billion euros. Technical investments are confirmed at approximately one billion euros”.
By mid-afternoon, Saipem's share on the Stock Exchange gained more than two points.
