Saipem S.p.a. · MIL:SPM

Saipem — FY2012 Earnings Presentation

14 slides from Saipem's earnings presentation, February 2013

  1. Slide 1: Preliminary 2012 Consolidated Results

    Presentation to the Financial Community Preliminary 2012 Consolidated Results February 2013

  2. 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: mone

  3. Slide 3: Presentation Outline

    Presentation Outline  2012 Financial Results  Backlog Analysis  Operational highlights  2013 Guidance 3

  4. Slide 4: 2012 Financial Results

    Preliminary 2012 Consolidated Results 2012 Financial Results 4

  5. Slide 5: Q4 2012 Financial Results

    Q4 2012 Financial Results Revenues EBITDA (Mln €) EBIT Net Profit % on Revenues 3,549 3,423 591 (16.7%) % on Revenues % on Revenues 125 (7.6%) 509 (14.9%) 401 (11.3%) 41 (2.7%) 1649 % on 1511 Revenues 62 (32.0%) 62 (30.8%) 116 (7.0%) 318 (9.3%) 249 33 (2.2%) 149 (54.4%) 157 (51.5%) 27 27 (13.4%) 194

  6. Slide 6: FY 2012 Preliminary Financial Results

    FY 2012 Preliminary Financial Results Revenues EBITDA (Mln €) EBIT Net Profit % on 13,369 % on Revenues Revenues % on 12,593 2,207 (16.5%) Revenues % on 2,135 (17.0%) Revenues 1,493 (11.9%) 1,481 (11.1%) 428 (6.9%) 6175 518 (8.7%) 5945 483 (8.1%) 395 (6.4%) 921 902 238 (31.7%) 233 (31.5%) 103 (13.7%

  7. Slide 7: FY 2012 Preliminary Financial Results

    FY 2012 Preliminary Financial Results (Mln €) Sources and uses of funds, Capex Net Debt & D/E Ratio D/E = 0.66 D/E =0.77 4,278 1,199 59 122 1,015 3,192 84 2,714 122 509 284 1,376 1,628 323 509 525 1,015 2011 2012 Net Debt Uses Sources Net Debt @Dec. 2011 @ Dec. 2012 Offshore Onshore Outflows Inflows

  8. Slide 8: Backlog Analysis

    Preliminary 2012 Consolidated Results Backlog Analysis 8

  9. Slide 9: FY 2012 Contract Acquisitions & Backlog

    FY 2012 Contract Acquisitions & Backlog (Mln €) Contract Acquisitions Backlog 13,391 20,417 19,739 12,505 3,972 6,701 9,604 5,006 917 1,025 1,079 588 912 3,238 780 3,301 7,477 6,131 8,721 6,600 2011 2012 Dec., 31 ’11 Dec., 31 ’12 Offshore Offshore Drilling Onshore Onshore 9

  10. Slide 10: Backlog Analysis

    Backlog Analysis Saipem Backlog € 19.7 Bln @ Dec., 31 2012 by Client by Year of Execution 25% 10% 2013 10% 2014 2015 2016+ 55% 2013 Backlog split by Business Unit 1,127 4,710 4,706 400 Offshore Off. On. Onshore Drilling by Geo Area by Country – Local Content Focus 46% of present backlog in Countries

  11. Slide 11: Operational Highlights

    Preliminary 2012 Consolidated Results Operational Highlights 11

  12. Slide 12: Operational highlights

    Operational highlights In 2012:  Strong performance in drilling, both onshore and offshore  Top line growth  Stable margins  Successfully executed €13bln of workload including large/complex projects:  Nord Stream completed ahead of schedule  Kashagan  Usan  Kizomba Satellite Castorone  Mani

  13. Slide 13: 2013 Guidance

    Preliminary 2012 Consolidated Results 2013 Guidance 13

  14. Slide 14: 2013 Guidance

    2013 Guidance Revenues: ~ € 13.5 bln EBIT: ~ € 750 mln Net profit: ~ € 450 mln Capex: € 0.9 bln - € 1 bln  Higher margin contracts concluded in 2012  Majority of lower margin contracts to be executed during 2013, phased out by end 2014  Large contract awards delayed 14

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