Saipem (SPM.MI) stock price, revenue, and financials

Saipem market cap is €2 b, and annual revenue was €7.34 b in FY 2020

€2 B

SPM.MI Mkt cap, 15-Sept-2021

€3.2 B

Saipem Revenue H1, 2021
Saipem Net income (H1, 2021)-779 M
Saipem EBITDA (H1, 2021)-389 M
Saipem EBIT (H1, 2021)-638 M
Saipem Cash, 30-Jun-20211.7 B
Saipem EV4 B
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Saipem Revenue Breakdown

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Saipem revenue breakdown by business segment: 5.7% from Onshore Drilling, 37.4% from Offshore Engineering & Construction, 52.9% from Onshore Engineering & Construction and 4.0% from Other

Saipem revenue breakdown by geographic segment: 5.7% from Italy, 6.7% from Rest of Europe, 7.3% from CIS, 34.3% from Middle East, 12.0% from Far East, 5.1% from North Africa, 22.9% from West Africa and Rest of Africa and 5.9% from Americas

Saipem Income Statement

Annual

EURFY, 2018FY, 2019FY, 2020

Revenue

8.5b9.1b7.3b

Revenue growth, %

(5%)7%(19%)

Operating expense total

8.5b8.7b8.3b

Depreciation and amortization

811.0m690.0m1.3b

EBITDA

848.0m1.1b428.0m

EBITDA margin, %

10%13%6%

EBIT

37.0m456.0m(845.0m)

EBIT margin, %

0%5%(12%)

Interest expense

268.0m643.0m691.0m

Interest income

209.0m515.0m465.0m

Pre tax profit

(216.0m)228.0m(974.0m)

Income tax expense

194.0m130.0m143.0m

Net Income

(410.0m)98.0m(1.1b)

EPS

(0.5)0.0(1.1)

Half Year

EURH1, 2019H1, 2020H1, 2021

Revenue

4.5b3.7b3.2b

Operating expense total

4.3b4.4b3.8b

Depreciation and amortization

312.0m982.0m249.0m

EBITDA

574.0m271.0m(389.0m)

EBITDA margin, %

13%7%(12%)

EBIT

262.0m(711.0m)(638.0m)

EBIT margin, %

6%(19%)(20%)

Interest expense

154.0m218.0m132.0m

Interest income

142.0m121.0m

Pre tax profit

123.0m(796.0m)(719.0m)

Income tax expense

77.0m74.0m60.0m

Net Income

46.0m(870.0m)(779.0m)

EPS

0.0(0.9)(0.8)

Saipem Balance Sheet

Annual

EURFY, 2018FY, 2019FY, 2020

Cash

1.7b2.3b1.7b

Accounts Receivable

2.3b2.2b1.7b

Prepaid Expenses

176.0m220.0m199.0m

Inventories

303.0m303.0m280.0m

Current Assets

6.2b7.0b6.4b

PP&E

4.3b4.1b3.3b

Goodwill

667.0m667.0m666.0m

Total Assets

11.7b13.0b11.3b

Accounts Payable

2.4b2.3b2.2b

Short-term debt

305.0m557.0m609.0m

Current Liabilities

4.4b5.2b4.9b

Long-term debt

2.6b3.1b2.8b

Non-Current Liabilities

3.2b3.7b3.4b

Total Debt

3.0b3.7b3.5b

Total Liabilities

7.6b8.9b8.3b

Common Stock

2.2b2.2b2.2b

Additional Paid-in Capital

553.0m553.0m553.0m

Retained Earnings

1.9b1.4b1.4b

Total Equity

4.0b4.1b2.9b

Debt to Equity Ratio

0.7 x0.9 x1.2 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x

Financial Leverage

2.9 x3.2 x3.8 x

Half Year

EURH1, 2019H1, 2020H1, 2021

Cash

1.7b1.4b1.7b

Accounts Receivable

2.1b1.9b1.4b

Prepaid Expenses

232.0m214.0m245.0m

Inventories

304.0m295.0m278.0m

Current Assets

6.3b6.2b6.3b

PP&E

4.2b3.5b3.2b

Goodwill

667.0m666.0m667.0m

Total Assets

12.3b11.3b11.1b

Accounts Payable

2.4b2.1b2.0b

Short-term debt

483.0m714.0m979.0m

Current Liabilities

4.7b5.1b5.4b

Long-term debt

3.0b2.5b2.8b

Non-Current Liabilities

3.6b3.0b3.5b

Total Debt

3.5b3.2b3.7b

Total Liabilities

8.3b8.1b8.9b

Common Stock

2.2b2.2b2.2b

Additional Paid-in Capital

553.0m553.0m553.0m

Retained Earnings

1.4b1.4b251.0m

Total Equity

4.0b3.2b2.2b

Debt to Equity Ratio

0.9 x1 x1.7 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x

Financial Leverage

3.1 x3.6 x5.1 x

Saipem Cash Flow

Annual

EURFY, 2018FY, 2019FY, 2020

Net Income

(472.0m)12.0m(1.1b)

Depreciation and Amortization

464.0m615.0m591.0m

Accounts Receivable

(272.0m)92.0m412.0m

Inventories

21.0m2.0m15.0m

Accounts Payable

140.0m(139.0m)39.0m

Cash From Operating Activities

711.0m1.3b123.0m

Purchases of PP&E

(467.0m)(327.0m)(305.0m)

Cash From Investing Activities

(551.0m)(516.0m)(463.0m)

Short-term Borrowings

(45.0m)83.0m108.0m

Long-term Borrowings

(349.0m)(516.0m)(407.0m)

Dividends Paid

(15.0m)(62.0m)(69.0m)

Cash From Financing Activities

(251.0m)(78.0m)(238.0m)

Net Change in Cash

(77.0m)598.0m(585.0m)

Interest Paid

75.0m92.0m112.0m

Income Taxes Paid

196.0m194.0m163.0m

Half Year

EURH1, 2019H1, 2020H1, 2021

Net Income

14.0m(885.0m)(779.0m)

Depreciation and Amortization

298.0m313.0m249.0m

Accounts Receivable

247.0m356.0m364.0m

Inventories

(1.0m)9.0m5.0m

Accounts Payable

6.0m(207.0m)(204.0m)

Cash From Operating Activities

419.0m(136.0m)14.0m

Purchases of PP&E

(132.0m)(188.0m)(133.0m)

Cash From Investing Activities

(151.0m)(208.0m)(281.0m)

Short-term Borrowings

25.0m150.0m(67.0m)

Long-term Borrowings

(145.0m)(751.0m)(104.0m)

Dividends Paid

(62.0m)(10.0m)(26.0m)

Cash From Financing Activities

(136.0m)(484.0m)231.0m

Net Change in Cash

63.0m(827.0m)(34.0m)

Interest Paid

62.0m75.0m42.0m

Income Taxes Paid

50.0m79.0m59.0m

Saipem Ratios

EURFY, 2018

Revenue/Employee

268.7k

Debt/Equity

0.7 x

Debt/Assets

0.3 x

Financial Leverage

2.9 x

Saipem Operating Metrics

Saipem's Backlog was reported to be €23.6b in H1, 2021.
FY, 2018H1, 2019FY, 2019H1, 2020FY, 2020H1, 2021

Backlog

$12.62 b$17.64 b€21.15 b€22.25 b€22.4 b€23.6 b

Countries

7070

Fabrication Yards

99

Geotechnical Drilling Rigs (Offshore)

1512

Geotechnical Drilling Rigs (Onshore)

8686

New Contracts Volume

$8.75 b$9.54 b€17.63 b€4.84 b€8.66 b€4.4 b

Offshore Wells

10172

Onshore Wells

217156

Saipem Human Capital

Saipem's employees are reported to be approximately 12% female and 88% male.

Job Roles

FY, 2020FY, 2019FY, 2018
White Collars53.7%51.1%48.3%
Blue Collars30.3%34.5%37.5%
Managers14.7%13.2%12.9%
Other1.3%1.2%1.2%
FY, 2020FY, 2019FY, 2018
Female12.1%11.3%10.9%
Male87.9%88.7%89.1%

Saipem Employee Rating

3.9959 votes
Culture & Values
3.6
Work/Life Balance
3.7
Senior Management
3.3
Salary & Benefits
3.5
Career Opportunities
3.3
Source