SAIPEM

Saipem has lowered its 2026 adjusted EBITDA forecast from €1.9bn to €1.75bn, citing already incurred and expected additional costs related to the crisis in the Middle East. In the first half of the year the company spent around €70m on employee security and logistics in the Gulf region. The deconsolidation of the shallow‑water drilling business is weighing on the annual forecast, while the previous guidance for operating cash flow of €1bn was confirmed. Saipem reported adjusted EBITDA of €402m for Q2, missing the analyst consensus of €464m. » Altro su de.investing.com

Saipem reported Q1 revenues of €3,528m, missing consensus by about 3%, while adjusted EBITDA of €434m beat expectations by 2%. Adjusted EBIT was €157m, roughly 10% below expectations due to higher depreciation of €277m. Order intake amounted to €1,669m (book-to-bill 0.5) and the order backlog fell to €29.6bn. Net debt improved to €23m thanks to free cash flow of €199m; management confirmed the FY 2026 guidance of around €15.5bn revenue and roughly €1.9bn EBITDA, but warned of risks from possible closures of the Strait of Hormuz. » Altro su de.investing.com

Saipem has won a $1.5 billion EPCI contract to develop the third phase of the offshore Sakarya gas field off the Turkish coast. The contract covers engineering, procurement, construction and installation of eight rigid flowlines and an approximately 183 km gas export pipeline; offshore works are planned for 2027. The award adds positively to the order book in the third quarter and comes at a time when Saipem saw slower new-business momentum in 2025. » Altro su de.investing.com