Italian energy contractor Saipem MIL:SPM said on Tuesday it expected its adjusted core earnings to rise to roughly 1.9 billion euros ($2.2 billion) this year, from 1.72 billion euros in 2025.
The Milan-based group, which last year signed an agreement to merge with its rival Subsea 7 OSL:SUBC, said its adjusted core profit in the fourth quarter of 2025 rose nearly 22% year-on-year.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 515 million euros, beating an analyst consensus of 482 million euros compiled by LSEG.
($1 = 0.8488 euros)