Caio: ‘Resources and skills for a profitable growth prospect’

“Saipem has the resources, the skills, the relationships with the customers that allow us to plan the near future with a view to profitable growth, even in a challenging context still characterized by the uncertainties deriving from Covid-19”. Francesco Caio declares this. , CEO and general manager of Saipem, commenting on the results of the first half of the group. “The specific factors that affected the results do not change – emphasizes Caio – the structural strengths of the company on which I intend to build – with the contribution of the extraordinary professionalism of the Group – an increasingly competitive Saipem. With this in mind, I have launched a simplification and focus program. Specific initiatives have already been identified with annual savings potential of approximately € 100 million when fully operational and on which we will keep the market updated. The orders acquired, the growing rate of utilization of the drilling fleet are further positive factors on which to focus for renewed competitiveness starting from a positive return of the EBITDA in the second half “.” I have also started the review of our strategy for the new plan that I will present next fall. There are concrete opportunities for growth on three fronts. The first – indicates Caio – is in our core business, where the signs of a new investment cycle are strengthened in regions where Saipem has a consolidated presence, such as the Middle East. The second is in the energy transition, where Saipem is already carrying out industrial projects in renewables, biofuels, CO2 capture and is expanding its technology portfolio with acquisitions, such as that of Naval Energies in floating wind, and joint ventures concluded in the sector. green hydrogen and, with Versalis, bioethanol. The third front is in Italy where the Pnrr is opening a season of new investments in sustainable infrastructures not only in the energy field but also in the high-speed rail sector, a sector in which we have created significant sections of the national network and where we are currently working on Brescia. -Verona. These are opportunities that we want to seize to consolidate Saipem’s presence in the world and increase our role at the service of the country, creating value for local communities through a sustainable approach in all our businesses “.