Saipem announced bigger net losses for 2018 at €472 million ($536.8 million),
a 44% YOY jump as the company wrote down $497 million worth of assets and
reorganization expenses. Its adjusted net profit of €25 million was off 46% YOY, and
2018 revenue fell 5% to about €8.53 billion on lower onshore engineering and
construction activity.
CEO Stefano Cao said
the company “redefined the objectives
of company repositioning, which are already demonstrating the appropriateness and
timeliness of the strategic choices implemented.” The......
Provide your credentials to access this page
Member Area: Log in if you have a PLS web account or Sign up for internet access now.