Saipem Q1 Profit Jumps to 77 Million Euros

Milan: Saipem closed the first quarter with a 35% increase in net profit, reaching 77 million euros, the Italian oil engineering group announced on Wednesday. Revenues experienced a 15.5% rise, totaling 3.52 billion euros. The company maintained its financial estimates for the entire year.

According to Ansa News Agency, Saipem generated 395 million euros in cash during the first quarter. The group’s order portfolio increased to 33 billion euros, with 2.1 billion euros acquired in the initial three months of the year. The gross operating margin saw a significant rise of 31%, amounting to 351 million euros.

The post-Ifrs net financial position improved to a positive 116 million euros, a notable increase from 23 million euros at the end of December. Meanwhile, the pre-Ifrs financial position rose to 968 million euros, compared to 683 million euros at the end of 2024.