In the first trimester the 2012 profit clearly of Saipem has recorded an increment of 8.5%



Today the board of directors of the Saipem Italian has approved of the intermediate report on March 31, 2012 that a profit of 231 million euros shows clearly on revenues for 3.132 million euros, with increments respective of 8.5% and of 6.0% regarding the first trimester last year. The EBITDA is piled to 544 million euros (+9.9%) and the operating profit to 373 million euros (+7.5%).

In the first three months of this year the company has acquired new orders for 3.116 million euros (2,908 in first trimester 2011) and the residual pocketbook orders on 31 March has attested to 20.401 million euros (20.417 million euros on December 31, 2011 and 20.459 million euros on March 31, 2011). The technical investments are piled to 316 million euros (355 million euros in the first trimester of the exercise precedence).

The indebtedness financial clearly on March 31, 2012 is pairs to 3.793 million euros, with an increment of 601 million euros regarding on December 31, 2011. "The recorded increment in the quarter - Saipem has explained - is ascribable to a worsening of the floating capital, imputable to the absence of advance payments on acquired contracts in the period and to advanced payments to the proceeds on some projects of the field Engineering & Construction, let alone to the expenditures connected to the starter of new means of perforation and to I renew of cover operations changes in the presence of a strengthened dollar. One considers that sayings phenomena re-enter in the course of the exercise".

In consideration of the previewed increase of the total investments of the Oil Industry and the good competitive positioning of Saipem in the areas in which the market it is previewed livelier which West Africa, Brazil, the Caspian one, the Middle East and the Asian East South, the Italian society previews that in the 2012 development of the pocketbook orders it will benefit "of the good intonation of the market, particularly in the offshore field". "The elevated pocketbook orders and the good results of the first trimester - it has concluded Saipem - allows to confirm the guidance for exercise 2012, already announced to February: revenues for about 13 billion euros, EBIT of about 1,6 billion euros and profit clearly of about a billion of euro; investments for about 900 million euros".