Report
Saipem : Q1 2024 slightly lower than expectations
>EBIT 2% below expectations - Q1 2024 sales came in 18% higher y-o-y at € 3.05bn (in line with the FactSet consensus at € 3.06bn). EBITDA came to € 268m, or a margin of 8.8% (below consensus of € 272m), driven by offshore businesses (€ 180m from asset-based services, € 80m for offshore drilling and € 8m for energy carriers). The energy carriers division continues to be undermined by challenging contracts. All told, this division’s EBITDA margin came to 0.7%, an...
Underlying
SAIPEM S.P.A.
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Baptiste Lebacq
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