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H1 2013 EARNINGS CALL – Saipem Spa

Saipem Spa · Jul 30, 2013 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. H1 2013 EARNINGS CALL – Saipem Spa – slide 1
    Presentation to the Financial Community First Half 2013 Results San Donato Milanese, July 30, 2013
  2. H1 2013 EARNINGS CALL – Saipem Spa – slide 2
    Presentation Outline 1. Financial Results 1. 1H 2013 Financial Results 2. 1H 2013 Net Debt and Working Capital breakdown 3. Net Debt in 2013E 2. 2013 Update 1. 2013 Guidance 2. Operational Update: focus on Middle East and Brazil…
  3. H1 2013 EARNINGS CALL – Saipem Spa – slide 3
    1. Financial Results 4
  4. H1 2013 EARNINGS CALL – Saipem Spa – slide 4
    1H 2013 Financial Results (mn ) Revenues EBIT Net Profit 6,397 509 766 5,186 140 474 608 (468) 192 (575) 1H 2012 1H 2013 1H 2012 1H 2013 1H 2012 1H 2013 E&C Offshore E&C Onshore Drilling Offshore Drilling…
  5. H1 2013 EARNINGS CALL – Saipem Spa – slide 5
    1H2013 Net Debt and Working Capital breakdown (bn ) Net Debt Working Capital 0.3 0.7 0.7 0.5 0.2 0.4 4.6 1.1 4.3 0.4 0.1 0.4 WC Work in Receivs WC Net Debt Applications Sources Net Debt Advances Dec 31,…
  6. H1 2013 EARNINGS CALL – Saipem Spa – slide 6
    Net Debt in 2013E (bn ) 0.3 5.0 1.0 4.3 0.4 0.5 0.3 0.3 Working Capital in 2013E 0.2 Net Debt Cash Claims Terms&Cond Capex Dividend Net Debt 1 Dec 31, 2012 2 Flow 3 4 5 6 7 Dec 31, 2013 7
  7. H1 2013 EARNINGS CALL – Saipem Spa – slide 7
    2. 2013 Update 8
  8. H1 2013 EARNINGS CALL – Saipem Spa – slide 8
    2013 Guidance Revenues: 13.0 bn EBIT: 0 mn Net profit: (300) - (350) mn Capex: 1.0 bn 9
  9. H1 2013 EARNINGS CALL – Saipem Spa – slide 9
    Operational Update: focus on Middle East and Brazil Middle East Total Backlog in M.E.: 3.7 bn Saudi Arabia Abu Dhabi E&C (Project - Award - %Progress) E&C (Project - Award - %Progress) Manifa Q308 100% Shah gas EPC Q210 80% Al…
  10. H1 2013 EARNINGS CALL – Saipem Spa – slide 10
    3. Market evolution 11
  11. H1 2013 EARNINGS CALL – Saipem Spa – slide 11
    Backlog at June 30,2013 (mn ) 7,151 21,704 127 839 19,739 5,186 913 1,079 1,956 3,543 3,328 4,155 6,656 6,701 10,666 8,721 Backlog 1H13 1H13 Contracts Backlog Dec, 31 12 Revenues Acquisition June, 30 13 E&C…
  12. H1 2013 EARNINGS CALL – Saipem Spa – slide 12
    New contract awards in 1H 2013 Turkey STAR Refinery Egypt Scarabeo 4 West Delta Deep Marine Phase IXa Nigeria Venezuela Dangote Ammonia/Urea Production Complex Perla EP Project Egina Angola Kizomba Satellite Ph.II…
  13. H1 2013 EARNINGS CALL – Saipem Spa – slide 13
    Margin mix improving as new projects come onstream Backlog June 30, 2013 to be executed in 2014 (bn ) 7.0 Backlog by Year of Execution 1.2 Drilling 2013 1.7 2016+ 2014 New contracts E&C 2015 Existing lower 4.1 margin…
  14. H1 2013 EARNINGS CALL – Saipem Spa – slide 14
    Short-term E&C market opportunities North Sea: North America: Offshore Pipelines Downstream Onshore Mediterranean: Offshore Fixed Facilities Surf Middle East: Downstream Onshore Central America: Upstream Onshore Marine Works…
  15. H1 2013 EARNINGS CALL – Saipem Spa – slide 15
    In conclusion Relentless focus on operational excellence and contract execution Saipem franchise continues to win robust new business from leading clients Attractive market opportunities, although some timings…
  16. H1 2013 EARNINGS CALL – Saipem Spa – slide 16
    Q&A 17

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