Saipem: Board approves preliminary consolidated results 2011

San Donato Milanese, February 13, 2012.  Today, the Board of Directors of Saipem S.p.A. reviewed the Saipem Group preliminary consolidated results at December 31, 2011 (not yet submitted to the Company Statutory Auditors and Independent Auditors), which have been prepared in compliance with the International Financial Reporting Standards (IFRS).

 Adjusted net profit for 2011 reached a record level of €921 million, an 11.2% increase compared to 2010.  
 Net profit for the fourth quarter of 2011 reached a record level of €258 million, an 8.9% increase compared to the fourth quarter of 2010.  
 New contracts won in 2011 amounted to €12,505 million (€12,935 million in 2010), while the backlog at December 31, 2011 stood at €20,417 million (€20,505 million at December 31, 2010).
 Investments in 2011 amounted to €1,199 million, compared to €1,545 million in 2010.
 Proposed dividend: €0.70 per ordinary share and €0.73 per savings share.
 Management outlook for 2012: further increase in revenues, EBITDA and net profit


Saipem is organised 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 monetisation and heavy oil exploitation.
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Shareholder Information: Saipem S.p.A. - Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI) - Italy

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Saipem: Board approves preliminary consolidated results 2011

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