Saipem, Caio: ‘New plan and marathon, more resilience for sustainable development’

Saipem’s new strategic plan “is not a 100-meter sprint, it’s a marathon”. Saipem’s CEO, Francesco Caio, said this at a press conference for the presentation of the third quarter accounts and the strategic plan to 2025. “We must make Saipem’s economic profile more resilient, simplify processes and structures and reduce costs operational, managerial and administrative. The cost reduction plan that we have already activated is an important element to ensure sustainable development “, explained the manager. In addition to cost cutting, which “we will achieve by working a lot on foreign and external costs”, the other pillar of the plan “is a different risk management. We want to shift our attention from volumes to values. In the approach to large companies projects we need to be more selective in acquiring projects and focus on those on which we can aspire to higher margins, “he added. “Drilling is an important part of our plan. We are managing the drilling business as an important part of our asset-based offering and as we are talking about a growth plan that transforms the company, there may be businesses going out and others going in. We will do it according to the values ​​that these operations create for the shareholders ”. Saipem’s CEO, Francesco Caio, said this at a press conference for the presentation of the accounts for the third quarter and the strategic plan for 2025. “Among the tools for implementing our strategy, attention to portfolio policies remains”, he said. concluded.