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Saipem is a world leader in engineering, construction and drilling services and in the energy and infrastructure sectors, both onshore and offshore. Today, it has evolved into a Global Solution Provider capable of meeting the present and future needs of its clients.

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With over 60 years of solid experience behind it, Saipem, distinguishes itself for its strong orientation towards activities in extreme conditions, remote places and deep waters. We use to the best possible advantage the special skills we have gained in our many years of valuable experience, the professionalism of our personnel and a high propensity for technological innovation and the value of our assets. We operate in over 70 countries and have more than 120 nationalities among our people. We focus a great deal of attention on sustainability, but also on the safety of people and the operations carried out.

Strategic Guidelines

Starting in 2015 Saipem embarked on a plan of strategic transformation covering five main pillars:

  • Refocusing of the business portfolio
  • De-risking of activities also through diversification
  • Debt reduction and financial discipline
  • Optimization of costs and processes
  • Technology and innovation.

Saipem has already achieved significant results, but the process of evolution continues: in 2017, five independent divisions were created (see next section), vested in 2018 with additional responsibilities and powers, with the overarching goal of creating a leaner, more efficient organization, capable of adapting better to the new needs of the market and strengthening its position as a “Global Solution Provider” in the energy sector.
The aim is to work alongside the clientele in the strategy of energy transition, supporting them through the entire project life cycle, from the conceptual stage of development through realization all the way to the decommissioning stage.
During 2018, as part of its review of the service portfolio, the strategic priorities of the different divisions were defined. The core business of Saipem is the Engineering & Construction Offshore Division, in which it intends to further strengthen its position of leadership. The Engineering & Construction Onshore Division continues the process of transformation tending to improve its profitability through a revision of the mix of activities and renewed focus on operating efficiency. In drilling, both on land and at sea, the goal remains that of maximising the business through attention to efficiency, and a flexible approach to strategic options, also with the entry of new partners.

Guidance 2019

~ 9 bn €
REVENUES
> 10 %
adjusted EBITDA
~ 500 mn €
CAPEX
~ 1 bn €
NET DEBT

The five divisions

The five divisions are totally autonomous, so as to guarantee flexibility and adaptation to the characteristics of the markets in which we operate. The existence of a Corporate division enables us to maintain a unified and all-encompassing vision from the strategic standpoint.

  • Offshore Engineering & Construction. This division represents the “core-business” of Saipem and our aim of maintaining and strengthening the company’s position of leadership through targeted investments and partnerships designed to maximise the offering of integrated solutions, diversifying into non-oil sectors such as Maintenance, Modifications and Operations, Decommissioning and Renewable energy sources.
  • Onshore Engineering & Construction. The division is currently undergoing a thorough overhaul with the aim of securing the recovery of marginality, also through a repositioning of the business portfolio of assets, with an increasing focus on energy transition (Gas, LNG and renewable sources), green energy and efficient operating processes.
  • Onshore and Offshore Drilling. In the drilling sector, Saipem has a niche position, focused on key countries and long-standing clients. The goal here is to maximise the value of these assets through optimisation of the operating processes and targeted expansion, both at the geographical level in strategic areas and as regards the client portfolio. We are currently evaluating possible alternative strategic options with a view to identifying partners with whom to ensure the conditions for future growth in the sector.
  • X-Sight. The group's start-up which offers consulting on services with a high added value. In particular, the highly specialised engineering activities we perform enable us to achieve early engagement with our client, starting from the conceptual development stages of projects. Closer communication with clients at an early stage permits us to propose innovative, tailored solutions that can satisfy their needs more precisely.

Technology and Innovation, the cornerstones of our strategic plan

Technological innovation plays a strategic role in Saipem, since it contributes to the group’s transition towards the role of “Global Solution Provider” in the energy sector.

Saipem has adopted a model of innovation that combines the need to develop concrete solutions, largely inherent to ongoing project initiatives, and the opportunity of proposing innovative solutions that reflect the challenges deriving from the development of the energy sector and the future macro-scenarios.

It is a dual approach in which an “evolutionary” dimension, targeted on improving process efficiency by reducing costs and lead time, co-exists with a “disruptive” one, capable of having a significant impact on the industrial sector and catapulting Saipem into the future. In this latter dimension, we have created the "Innovation Factory", our incubator of ideas, internal but totally open to the academic and technological world.

Right now, we are actively engaged, for example, in advanced submarine robotics, technologies for the management of CO2 and the development of emerging renewable energy sources.

Our Sustainable Value

We believe that Saipem's business generates Sustainable Value for the company, towards a shared goal of long-term, equitable global progress for all. The best proof of the success of our work comes from the stakeholders with whom we work every day and with whom we share the challenges and outcomes

“I am pleased to renew Saipem’s commitment to support the UN Global Compact in 2019: we have been an active player since 2016 and we have worked to make this initiative and its principles part of our business strategy, day-to-day operations and organisational culture. Every year we aim to strengthen our effort in all our spheres of influence to protect and respect human rights and international labour standards, safeguard the environment and fight corruption. […] Increasing attention is dedicated to promote the respect for theTen Principles also along our supply chain, contributing to advancing sustainable development together.”
Stefano Cao, Saipem CEO

Take a look at our ESG rating which certify the solidity of our sustainable work and our ESG performance.

Profile
Strategic Guidelines
Guidance 2019
The five divisions
Technology and Innovation,
the cornerstones of
our strategic plan
Our Sustainable Value
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