Saipem : Un T1 drivé par l’E&C offshore, mais un FCF qui reste négatif
>Recommandation Sous-performance maintenue - Nous maintenons notre recommandation Sous-performance (OC 1.17 €). Les résultats du T1 22 sont ressortis au-dessus des attentes, mais le FCF reste fortement négatif. A ce stade de ce nouveau super-cycle exacerbé par le thème de l’Energy Security, nous pensons que d’autres acteurs restent mieux positionnés (attention de ne pas perdre des compétences clefs suite aux nouvelles mesures d’économies de coûts).Conférence cal...Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.