BAKU, Azerbaijan, July 25. In the first half of 2024, Saipem's revenue surged to €6,418 million, up from €5,347 million during the same period in 2023, Trend reports via the company.
The adjusted EBITDA also saw a significant rise, reaching €565 million compared to €410 million last year. This growth was primarily driven by improvements in the Offshore Engineering and Construction and Drilling sectors.
The company's adjusted net profit from continuing operations was €118 million, a substantial increase from €40 million in the first half of 2023. This positive shift in the adjusted operating result (€63 million) was further boosted by a favorable balance of tax and financial operations amounting to €15 million.
No non-recurring expenses were recorded in the first half of 2024, and the result from discontinued operations remained null, consistent with the previous year.
Revenue from the Onshore Drilling business, classified under discontinued operations, fell to €12 million from €56 million in the corresponding period of 2023. The operating result for this segment was zero, down from €3 million last year. Financial expenses for discontinued operations were €3 million in the first half of 2023, leading to a net zero result for this category.
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