Saipem Posts Wider 1H Loss, Maintains 2018 Guidance

Italian oilfield services player Saipem has reported loss in the first half of 2018 of €323 million ($377.5 million), on revenues of €3.8 billion ($4.4 billion).

This result compares to net loss of €110 million ($128.6 million) on revenues of €4.6 billion ($5.4 billion) for the first six months of 2017.

For the second quarter 2018, Saipem booked net loss of €321 million ($375 million) with net of write-downs and reorganization expenses of €316 million ($369 million).

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