Business Description

Saipem SpA offers integrated onshore engineering services, including project management, procurement, and basic engineering. This is primarily for the oil and gas, complex and marine infrastructure, and environmental markets. The company was established in 1957. Its headquarters are in San Donato Milanese in Italy. The company’s business segments include onshore Engineering and Construction, Offshore Engineering and Construction, and Offshore Drilling. Onshore Engineering and Construction designs and constructs hydrocarbon production and treatment facilities.

It also provides large-scale onshore treatment and transportation systems and facilities. The Offshore Engineering and Construction segment covers pipelines, platforms, subsea fields developments, MMO – Maintenance Modification, and Operation activities, and execution of large-scale offshore projects. The Offshore Drilling segment includes a fleet that can drill in medium, deep, high-speciation jack-up, and standard jacking-up waters. The Onshore Drilling segment includes a fleet of drilling rigs that can be used for wells throughout Italy and overseas.

Key Financials

Revenue (US$ Mn):

• US$ 8,070 Mn was the annual revenue generated by Saipem SpA in 2021
• Saipem SpA’s annual revenue for 2020 was US$ 9,018 Mn, a -11.5% decrease from 2019
• From 2018’s yearly revenues, Saipem SpA registered a 4.49% increase in 2019, amounting to US$ 10,190 Mn
• Total revenue of US$ 9,752 Mn was generated in 2018 by Saipem SpA

Operating Income (US$ Mn):

• Saipem SpA’s operating income for 2021 was US$ 992 Mn, a -195.56% decrease from 2020
• The operating income generated by Saipem SpA in 2020 was US$ -1,038 Mn
• At a 1106.64% increase from , Saipem SpA’s operating income of US$ 511 Mn was indexed in 2019
• Saipem SpA generated an operating income of US$ 42 Mn in 2018

Net Income (US$ Mn):

• US$ 195 Mn was the net income generated by Saipem SpA in 2021
• Saipem SpA’s net income for 2020 was US$ -1,395 Mn, a -10489.35% decrease from 2019
• From 2018’s net incomes, Saipem SpA registered a -102.49% decrease in 2019, amounting to US$ 13 Mn
• A net income of US$ -540 Mn was generated in 2018 by Saipem SpA

Operating Margin %:

• Saipem SpA’s operating margin for 2021 was 12%, a -206.09% decrease from 2020
• The operating margin generated by Saipem SpA in 2020 was -12%
• At an 1150% increase from , Saipem SpA’s operating margin of 5% was indexed in 2019
• Saipem SpA generated an operating margin of % in 2018

SWOT Analysis

Geographical Presence

Saipem’s ability to operate in multiple locations helps it reduce the risks of being too dependent on one market. This allows Saipem to increase its brand equity and opens up new growth opportunities. Saipem divides its revenue into eight categories: Italy, the Rest of Europe CIS, the Middle East, the Far East, North Africa West Africa, West Africa, the Rest of Africa, and the Americas. The Italy segment accounted for 4.8% of the total revenue in FY2019. Next came 11.7% from CIS, 3.4% from the Middle East, 6.4% From the Far East, and 12.7% from North Africa.

Get this premium content

The Premium data is Locked

Buy Now to Unlock Premium Data

Request Sample Data