Saipem announces results for the third quarter and the first nine months 2013

Third quarter of 2013  
 Revenues: €3,522 million ( -0.8%)  
 EBIT: €209 million ( -48.3%)
 Net result: €101 million ( -59.6%) 
 
First nine months of 2013  
 Revenues: €8,708 million ( -12.4%)  
 EBIT: €-259 million
 Net result: €-474 million  
 Capital expenditure: €684 million (€778 million)  
 New contracts: €8,561 million (€9,140 million)  
 Backlog: €19,520 million at September 30, 2013 (€19,739 million at December 31, 2012)
 New contracts awarded since period end: €1,250 million including early works for South Stream  
 Continuing cooperation with CONSOB: 2013 pro forma data presented; no incremental costs on disclosed results for 2013 
 
Guidance for 2013
 Revenues expected at around €12.5 billion
  EBIT at break even and net loss of €300-350 million  
 Capital expenditure confirmed at approximately €1 billion 

Umberto Vergine, Saipem CEO commented:
“Saipem has achieved positive results in the third quarter. I am pleased our efforts to step up operational performance are also achieving an improvement of our commercial position with clients. We are rebuilding a better margin portfolio through new contracts won since January 2013 and we continue to see opportunities in the market although the timing of some contract awards remains uncertain.” 

Saipem is organized into two Business Units: Engineering & Construction and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation.

Website: www.saipem.com
Main telephone number: +39-025201
Shareholder Information  Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI)

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