UPDATE 1-Saipem reinstates dividend as forecasts higher sales [Reuters]
SAIPEM SPA UNSP/ADR (SAPMY)
NASDAQ:AMEX Investor Relations:
saipem.com/saipem_en_it/sommario/investor+relations+contacts.page?
Company Research
Source: Reuters
UPDATE 1-Saipem reinstates dividend as forecasts higher sales (Recasts, adds management quotes, shares) MILAN, Feb 26 (Reuters) - Italian oil services group Saipem said on Wednesday it expected higher sales this year after it beat its 2019 targets and announced a dividend for the first time in seven years. But it warned that concerns over the impact of the coronavirus outbreak and political uncertainty in certain parts of the world could weigh on the weak signs of recovery the industry was seeing, holding back investments by oil majors. The group, jointly controlled by oil major Eni and state lender Cassa Depositi e Prestiti, said revenues this year would be around 10 billion euros ($11 billion), up from the 9.1 billion euros reported last year. The order backlog had reached a record high of around 25 billion euros, it said. “Thanks to the record backlog of orders, we have exceptional visibility for the next 2-3 years,” Chief Executive Stefano Cao said in a conference call with analys
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