Report
Baptiste Lebacq

Saipem : Résultats T2 < attentes et guidance plus prudente qu’attendu pour 2020

>Recommandation Alléger maintenue (OC 2 €) - Nous maintenons notre recommandation Alléger (OC 2 €) sur le titre malgré la correction boursière (-50% YtD). Les résultats du T2 sont en-dessous des attentes, de nouvelles dépréciations sur la division offshore ont été enregistrées et la guidance est plus prudente que ce qu’attendait le consensus. La bonne nouvelle est venue d’une activité commerciale soutenue qui permet ainsi à Saipem d’afficher un carnet de commandes sol...
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.

Analysts
Baptiste Lebacq

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