SAIPEM: RESULTS FOR THE FIRST QUARTER OF 2018

San Donato Milanese, April 24, 2018 – The Board of Directors of Saipem S.p.A., chaired by Paolo Andrea Colombo, yesterday approved the Saipem Group’s Interim Report at March 31, 2018 (not subject to audit).

Highlights

 Operational performance in line with expectations

 Strong reduction in net financial debt

 Strengthening of the E&C Offshore fleet

Results for the first quarter of 2018:

 Revenues: €1,915 million (€2,263 million in the first quarter of 2017)

 Adjusted EBITDA: €214 million (€256 million in the first quarter of 2017)

 EBITDA: €201 million (€246 million in the first quarter of 2017)

 Adjusted operating profit (EBIT): €100 million (€122 million in the first quarter of 2017)

 Operating profit (EBIT): €87 million (€112 million in the first quarter of 2017)

 Adjusted net profit: €11 million (€54 million in the first quarter of 2017)

 Net profit: loss of €2 million, net of reorganization expenses of €13 million (€47 million in the first quarter of 2017, net of reorganization expenses of €7 million)

 Capital expenditure: €32 million (€83 million in the first quarter of 2017)

 Net debt at March 31, 2018: €1,200 million (€1,296 million at December 31, 2017)

 New contracts: €1,023 million (€509 million in the first quarter of 2017)

 Backlog: €11,500 million (€12,392 [1]  million at December 31, 2017)

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