Saipem: 2011 Consolidated and draft Statutory Financial Statements; Call to General Shareholders’ Meeting
San Donato Milanese, March 13, 2012. The Board of Directors of Saipem S.p.A. has approved the Saipem Group Consolidated Financial Statements for the period ending December 31, 2011, which reported an adjusted net profit of €921 million (€828 million in 2010) and net profit of €921 million (€844 million in 2010). The Board also approved the draft Statutory Financial Statements of Saipem S.p.A., which reported a net profit of €520 million, inclusive of net income from investments amounting to €293 million (€85 million in 2010).
Revenues: €12,593 million
Operating profit: €1,493 million
Adjusted net profit: €921 million
Adjusted cash flow: €1,563 million
Dividends: €0.70 per ordinary share and €0.73 per savings share
The Board of Directors moved to propose the distribution of a dividend of €0.70 per ordinary share and €0.73 per savings share at the Annual Shareholders’ Meeting. Dividends will be paid from May 24, 2012 (ex-dividend date: May 21, 2012).
The Consolidated and draft Statutory Financial Statements of Saipem S.p.A. have been made available to the Board of Statutory Auditors and the Independent Auditors, together with the Directors’ Report.
The 2011 Annual Financial Report will be duly available at Saipem’s Headquarters and published on the Company’s website www.saipem.com.
The Board of Directors also approved the following reports: “Saipem’s Corporate Governance and Shareholding Structure”, “Saipem Sustainability” and the “Compensation Report”. These documents will be made available on Saipem’s website when the Annual Financial Report is published.
Finally, the Board of Directors approved the draft Statutory Financial Statements of the subsidiary Saipem Energy Services S.p.A., whose merger into Saipem S.p.A. was effective as per January 1, 2012.
Annual General Shareholders’ Meeting
Ordinary Part
The Board of Directors called for the General Shareholders’ Meeting to be held on April 20 or April 27, 2012, first and second call, respectively.
Extraordinary Part
The Board of Directors also called for the Extraordinary Shareholders’ Meeting to be held on April 20 or April 27, 2012, first and second call, respectively, to approve amendments to the Company’s Articles of Association required to comply with new regulations aimed at promoting gender balance in Boards of Directors and Internal Control Bodies of listed companies.
Saipem’s Chief Financial Officer, Mr Giulio Bozzini, in his capacity as manager responsible for the preparation of the Company’s financial reports, certifies, pursuant to art. 154-bis paragraph 2 of Legislative Decree no. 58/1998, that data and information disclosed in this press release corresponds to the Company’s evidence and accounting books and entries.
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.
Website:www.saipem.com
Switchboard: +39-02520.1
Shareholder Information: Saipem S.p.A. - Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI) - Italy
Relations with Institutional Investors and Financial Analysts:
Tel.: +39-02520.34653 -
Fax: +39-02520.54295
E-mail: investor.relations@saipem.com
pdf - 12-2022