Saipem: il CdA approva la relazione finanziaria semestrale al 30 giugno 2011

San Donato Milanese, July 27, 2011. The Board of Directors of Saipem S.p.A. today reviewed the Saipem Group consolidated Half Year Report at June 30, 2011, which has been prepared in compliance with the International Financial Reporting Standards and is subject to a limited audit (near completion). The report is subject to review by the company’s Statutory Auditors and Independent Auditors. 

• Net profit for the second quarter of 2011 amounted to Euro 225 million, a 13.6% increase compared to the second quarter of 2010.
• Net profit for the first half of 2011 amounted to Euro 438 million, a 15.3% increase compared to the first half of 2010.
• New contracts won during the first half of 2011 amounted to Euro 6,006 million (Euro 7,059 million in the first half of 2010); the backlog at June 30, 2011 stood at Euro 20,490 million (Euro 20,459 million at March 31, 2011).
• Investments in the first half of 2011 amounted to Euro 561 million, compared to Euro 782 million in the first half of 2010).
• Financial results for 2011: guidance of improved results released in April is 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.
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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 of Directors approves six-month report at June 30, 2011

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