Report
Baptiste Lebacq

Saipem : Une adaptation qui reste à définir

>Recommandation Alléger OC 2 € (vs 2.2 €) - A la suite de la publication des résultats du T1 2020, nous ajustons une nouvelle fois notre séquence d’EBITDA de 9% sur 2020/2022. Nous intégrons notamment une pression plus forte du côté du forage ainsi qu’un ralentissement des prises de commandes, ce qui pèsera sur la dynamique top line (et in extenso sur les résultats). Nous reconnaissons que l’environnement actuel rend difficile toute actualisation de la guidance, même ...
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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