Report

Saipem : A growth path strewn with pitfalls

After a difficult 2020 financial year, Saipem published disappointing results for Q1 2021, still penalised by delayed executions due to the health crisis. Nevertheless, conditions are gradually improving in oil & gas, as evidenced by the recovery in order intake at the beginning of the year. In the longer term, diversification into renewable energy should be beneficial. However, the indefinite suspension of the Mozambique LNG project, which represents nearly 20% of Saipem's order...
Underlying
Saipem S.p.A.

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.

Provider
Oddo BHF
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.

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