Saipem: Board of Directors approves Interim Report as at March 31, 2012

 Revenues amounted to €3,132 million: +6% compared to the first quarter 2011  Operating profit amounted to €373 million: +7.5% compared to the first quarter 2011
 Net profit amounted to €231 million: +8.5% compared to the first quarter 2011
 New contracts won during the first quarter 2012 amounted to €3,116 million (€2,908 in the first quarter 2011), while the backlog at March 31, 2012 stood at €20,401 million (€20,417 million at December 31, 2011)
 Investments amounted to €316 million (€355 million in the first quarter 2011)
 2012 guidance: expectations of increased results vs 2011 are confirmed 

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
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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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E-mail: investor.relations@saipem.com