Progress in transition year despite deteriorating environment Underlying business achieving transitional goals: adjusted EBIT improvement and reduction in net debt, despite deteriorating environment resulting in impairment and write…
2. FY14 Financial Results 6
FY 2014 Financial Results (m ) EBIT Net Income Including Write Off for 130m 465 410 180 410 55 (230) 2014 Impairment 2014 2014 Impairment 2014 Adjusted Reported Adjusted Reported 2014 IFRS 10 and 11 compliant…
E&C: Update on pending revenues Pending revenues at the end of 2014: 1.1bn (reduced from 1.4bn in Q3), of which 80% are now accounted by four legacy contracts Successful outcome of negotiations in Q4 on certain contracts drove…
2014 Net Debt Net Debt (bn ) 4.76 (0.93) 0.69 (0.30) 0.07 4.42 0.13 Net 1Debt 2 3 4 5 6 Net7Debt Dec. 31, 2013 Dec. 31, 2014 Cash Flow Capex Working Capital Forex Others (Net Income + D&A) translations 2014 IFRS 10 and…
2015 challenges and opportunities Challenges E&P clients focused on capex discipline more rigid client attitudes on negotiations on ongoing projects potential re-phasing of both new and existing projects pressure on price & rates for…
2015 Guidance Revenues: 12 13bn EBIT: 500 700m Net Income: 200 300m Capex: 650m Net Debt: < 4bn (*) * Excluding potential impact of currency fluctuation 15
South Stream The South Stream Project Client: South Stream Transport B.V. Saipem Value: 2.4 bn Saipem Scope: First line: installation design and construction Four pipelines: shallow water parts, shore crossings, landfall and…
Update on Drilling Offshore Drilling fleet contracts Committed Stand-by New negotiation CLIENT LOCATION Saipem 12000 Total Angola DEEP-WATER Saipem 10000 Eni Worldwide Scarabeo 9 Eni Angola Scarabeo 8 Eni North Sea Scarabeo…
Update on E&C business new opportunities Central Asia / Europe: NCOC Kashagan early production pipelines Eni Argo Cluster SURF Lukoil Filanovsky Phase 2 fixed facilities Lotos Delayed Coker downstream TAP Onshore Albania & Greece…
Kashagan Awarded in Q1 2015 Client: North Caspian Operating Company (NCOC) Kashagan Pipelines Project Contractor: Ersai (50% Saipem, fully consolidated) Country: Kazakhstan Contract Value : 1.8 bn Saipem Scope: Construction of 2…
4. Conclusion 20
In conclusion Underlying business achieved transition goals in 2014 despite deteriorating market environment Parameters set for 2015 performance as the industry acclimatises to era of low oil prices Large and resilient backlog…
5. Q&A 22
Saipem Roadshow - February 2015 Mon Tue Wed Thu Fri Sat Sun 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 London London Barclays Barclays 1-1s 1-1s 23 24 25 26 27 28 Paris Frankfurt Natixis HSBC 1-1s…
Saipem Roadshow - March 2015 Mon Tue Wed Thu Fri Sat Sun 1 2 3 4 5 6 7 8 Boston NY NY Mediobanca Mediobanca Mediobanca 1-1s 1-1s 1-1s 9 10 11 12 13 14 15 Milan Banca IMI Presentation 16 17 18 19 20 21 22 London UBS…
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