Italian energy services company Saipem has reported continued improvement in its financial performance, approving consolidated results for the third quarter and first nine months of 2025. The company confirmed its guidance for the full year.
Revenue for the first nine months of 2025 reached €11 billion ($13 billion), an increase of 8.4 per cent compared to the same period in 2024. Adjusted EBITDA grew by 32.7 per cent year-on-year to €1.2 billion, while the net result improved by 7.3 per cent to a profit of €221 million.
During the third quarter alone, revenue was €3.77 billion, and adjusted EBITDA reached €437 million.
Saipem said it secured new contracts worth €7.5 billion in the first nine months of the year, including approximately €3.2 billion awarded in the third quarter. The company's total backlog stood at over €30 billion as of September 30, 2025.
The pre-IFRS 16 net financial position improved to a net cash position of €844 million, an increase of €161 million compared to the end of 2024, even after accounting for the payment of €333 million in dividends. Capital expenditure for the nine-month period amounted to €256 million.
Saipem confirmed its full-year 2025 guidance, which includes expected revenue of approximately €15 billion and EBITDA of approximately €1.6 billion.
