Saipem reports €19 billion in revenues for 2023

Saipem reports €11.9 billion in revenues for 2023

Italy

MILAN, February 28, 2024 – The Saipem Group has reported a strong performance in 2023, revealing on Wednesday in its Q4 preliminary results that it secured EUR 18 billion in new orders and recording its highest net income in 10 years.

Its revenues for the year were around EUR 11.9 billion, a 19% increase over 2022, while net profits stood at EUR 179 million.

The Italian energy services and engineering provider reported EUR 54 million in profits for Q4 2023, turning the tide on losses of EUR 71 million experienced in Q4 2022.

Of the Group’s new contracts, more than 70% were for offshore projects.

In 2024, the Group anticipates EUR 440 million-480 million in capex and around EUR 13 billion in revenues.

“Thanks to Saipem’s people and their commitment, we achieved the highest net income of the last 10 years and we closed 2023 with an unprecedented order intake of EUR 18 billion,” CEO and general manager Alessandro Puliti said.