Saipem reported that revenue reached €15.497 billion ($16.737 billion) during 2025, representing a 6.5 per cent increase compared to the previous year. Net profit for the year totalled €310 million while free cash flow reached €792 million.
The company added that the cash flow figure represented a 56.8 per cent year-on-year increase. The board of directors stated it intends to propose a dividend of €0.17 per share, which is equivalent to approximately €330 million.
This proposal is consistent with the dividend policy followed in 2025, according to the group. New contract awards during 2025 amounted to €12,936 million.
Saipem reported that its total backlog remained above €31 billion as of December 31, 2025. In the fourth quarter of 2025, revenue was €4,515 million which was 2.2 per cent higher than the corresponding quarter in 2024.
The company reported that its net debt stood at €498 million at the end of the year. This total reflects the planned purchase of the drillship Deep Value Driller, which is currently operated under a rental agreement.
Saipem forecasted revenue of approximately €15.5 billion for 2026. The board of directors approved this target as part of the 2026 budget and guidance.
The group recently secured an offshore contract from Aramco for engineering and construction work in the Safaniya oil field in Saudi Arabia. This project includes a trunkline measuring approximately 65 kilometres offshore and 12 kilometres onshore.
Capital expenditure for 2025 amounted to €364 million, compared to €337 million in the previous year. The company noted that €147 million of this total was allocated to the offshore drilling sector.
The backlog for the offshore drilling segment was €961 million at the end of December. This figure includes the impact of a €35 million jack up rental contract cancellation by Aramco for Perro Negro 12 during the second quarter of 2025.
