Letter to the Shareholders
2013 proved a particularly difficult year for Saipem due to a succession of events that impacted adversely on the year’s results, particularly in the Engineering & Construction sector. The exception was the Drilling sector which continued to follow the positive trend registered in recent years. Overall, compared on a basis consistent with the Company’s approved 2012 reporting, revenues decreased by 10.2% and EBITDA by 71.8%, while the year saw the Company post a negative net result of €404 million.
The Saipem Group possesses a strong, technologically advanced and highly versatile fleet as well as world class engineering and project management expertise. These unique capabilities and competences, together with a long-standing presence in strategic frontier markets, represent an industrial model that is particularly well suited to EPCI projects.
Pursuing satisfaction of our Clients in the energy industry, we tackle each challenge with safe, reliable and innovative solutions.
Our competent, multi-local teams provide sustainable development for our Company and for the communities in which we operate.
Our core values
Commitment to health and safety, openness, flexibility, integration, innovation, quality, competitiveness, teamwork, humility, internationalisation, responsibility and integrity.
saipem in the world