Saipem racks up US$7.9B in contracts

Saipem - press release
Tuesday, May 21, 2013

Saipem announced that it has already exceeded 50% of its new contract acquisition target for 2013 in the Engineering & Construction (E&C) Business Unit.

The total value of new contracts acquired from January 2013 to date in the E&C Business Unit (some of which will be communicated in the next weeks) is approximately €6.1 billion ($US 7.87 billion), and supports the likelihood of achieving a full-year order intake, similar to recent years, of approximately €11 billion.

CEO U. Vergine said, “Although this is a partial intermediate result for 2013, we are very pleased; not only does it help guarantee our target activity levels in Saipem, but we are progressing with our objective of improving the marginality of our order backlog. The E&C contracts acquired since January imply margins that so far represent an improvement of at least 40% compared with those acquired in 2012”.

Categories: Activity Europe Construction Engineering

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