Saipem S.p.a. · MIL:SPM
Saipem — Q3 2013 Earnings Presentation
14 slides from Saipem's earnings presentation, Oct 28, 2013
Slide 1: Presentation to the Financial Community
Presentation to the Financial Community Third quarter 2013 Results San Donato Milanese, October 28, 2013
Slide 2: Forward-Looking Statements
Forward-Looking Statements By their nature, forward-looking statements are subject to risk and uncertainty since they are dependent on upon circumstances which should or are considered likely to occur in the future and are outside of the Company’s control. These include, but are not limited to: fore
Slide 3: Presentation Outline
Presentation Outline 1. Q3 2013 Results 1. Financial Results 2. Backlog and new orders 3. Net Debt and Working Capital 4. Operational activities 2. Update on Consob proceeding and ongoing Algerian investigation 3. Guidance 2013 Update 4. Conclusion 3
Slide 4: Q3 2013 Results
Saipem 1. Q3 2013 Results ws, saipem
Slide 5: Financial Results (mn €)
Financial Results (mn €) Revenues EBIT Net Profit 3,549 3,522 274 284 404 250 73 209 26 101 Q3 2012 Q3 2013 Q3 2012 Q3 2013 Q3 2012 Q3 2013 E&C Offshore E&C Onshore Drilling Offshore Drilling Onshore 5
Slide 6: Backlog and new orders (mn €)
Backlog and new orders (mn €) 21,704 3,522 1,410 19,520 Backlog Q3 13 Q3 13 Contracts Backlog @June 30, 13 Revenues Acquisition @Sept 30, 13* E&C Offshore E&C Onshore Drilling Offshore Drilling Onshore *Includes effects of the cancellation of the residual backlog related to the jack-up Perro Negro 6
Slide 7: Q3 2013 Net Debt and Working Capital breakdown (bn €)
Q3 2013 Net Debt and Working Capital breakdown (bn €) Net Debt Working Capital - 0.1 (0.7) 0.3 0.7 0.2 0.1 0.1 5.1 0.7 4.6 1.1 0.4 WC Work in Receivs WC Net Debt Applications Sources Net Debt Advances @ June 30, Progress &Others @Sept 30, @June 30, @Sept 30, 2013 2013 2013 2013 Δ Working Capital Oth
Slide 8: Operational activities update
Operational activities update • Focus on returning to high class quality project execution: mitigating commercial and economic risk in the most critical projects improving commercial position with clients • Taking steps to rebuild a profitable portfolio through new contracts and better managemen
Slide 9: Update on Consob proceeding and ongoing Algerian investigations
Update on Consob proceeding and ongoing Algerian investigations • We carried out a constructive step forward on Consob proceeding in the Consob direction of a common understanding with the Italian regulator. • We present an accounting adjustment to be posted in a pro-forma statement with no impact o
Slide 10: Guidance 2013 Update
Saipem 3. Guidance 2013 Update ws, saipem
Slide 11: 2013 Guidance Update
2013 Guidance Update • Revenues: ~ € 12.5 bn (from € 13.0 bn) • EBIT: ~ € 0 mn (confirmed) • Net profit: € (300) – (350) mn (confirmed) • Capex: € 1.0 bn (confirmed) • Net Debt: € 5.0 – 5.2 bn (from € 4.9-5.1 bn) 11
Slide 12: Conclusion
Saipem 4. Conclusion ws, saipem
Slide 13: In conclusion
In conclusion Improved quarter of performance Operational performance stepped up, restoring commercial position with clients Rebuilding better margin portfolio through new contracts Good opportunities ahead, timing of contract awards remains uncertain 13
Slide 14: Saipem Q&A
Saipem Q&A ws, saipem