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BAKER HUGHES COMPANY

(BKR)
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Baker Hughes Foundation Contributes $425,000 to Children's Recreational Therapy Camp in Italy

11/21/2022 | 08:41am EST

FLORENCE, Italy - The Baker Hughes Foundation has announced a $425,000 grant to Dynamo Camp, a non-profit that offers recreational therapy programs free-of-charge to children and teenagers affected by serious or chronic illnesses. Located in Tuscany and in operation since 2007, the camp has served over 84,000 children and their families, helping them develop self-confidence and trust in their own abilities and potential.

Dynamo Camp is a member of the SeriousFun Children's Network (SFCN), an international association that encompasses 30 camps around the globe with over 1.5 million children and parents served from 50 nations.

The Baker Hughes Foundation's contribution will support energy efficiency upgrades on an iconic but under-used historical building dating back to the early 1900s. The upgrades will also allow Dynamo Camp to expand capacity though a new space dedicated to activities for campers and 18 new beds for staff and volunteers.

Baker Hughes in Italy is a long-time supporter of the Dynamo Camp through its Nuovo Pignone legal entity and has been a corporate partner since 2016.

This grant aligns with the Baker Hughes Foundation's mission of promoting health, safety and wellness. This donation also supports Baker Hughes' commitment to advancing the United Nations' Sustainable Development Goals (SDGs) - specifically SDG 3 to ensure healthy lives and promote well-being for all at all ages.

"Baker Hughes believes in giving back to the communities where we live and work. Our team in Italy has been volunteering with Dynamo Camp since 2008, and we are proud to expand our support to this project," said Brian Worrell, president of the Baker Hughes Foundation board of trustees. "Creating fun and social opportunities for children whose daily lives are impacted by illness is something the Baker Hughes Foundation is honored to support."

"Baker Hughes is a long-term partner for Dynamo Camp, as the strategic value of this support confirms," said Serena Porcari, CEO of Dynamo Camp. "Thanks to the energy efficiency, this very special historical building will be used to its full potential all year-round with a direct benefit to campers, staff and volunteers. In addition, but not less important, this improvement will allow consumption reduction and evident reduction in gas bills. We are grateful to the Baker Hughes Foundation for this sign of renewed esteem in our mission and partnership."

To learn more about Baker Hughes' work in supporting its communities, visit our Corporate Responsibility website.

About the Baker Hughes Foundation:

For 25 years, the Baker Hughes Foundation has been a steward of charitable resources for meaningful community impact. The Foundation seeks to advance environmental quality, education, health, safety, and wellness around the world by supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. The Baker Hughes Foundation makes strategic philanthropic contributions, matches Baker Hughes employee contributions, and awards volunteer recognition grants for outstanding employee community service.

About Baker Hughes:

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

###

For more information, please contact:

Media Relations

Adrienne M. Lynch

+1 713-906-8407

adrienne.lynch@bakerhughes.com

Tweet me: The Baker Hughes Foundation has announced a $425,000 grant to @DynamoCamp, a non-profit that offers recreational therapy programs free-of-charge to children and teenagers affected by serious or chronic illnesses. https://bit.ly/3V3jfsw @BakerHughesCo

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 21 331 M - -
Net income 2022 -395 M - -
Net Debt 2022 3 518 M - -
P/E ratio 2022 -78,1x
Yield 2022 2,27%
Capitalization 31 930 M 31 930 M -
EV / Sales 2022 1,66x
EV / Sales 2023 1,43x
Nbr of Employees 55 000
Free-Float 98,7%
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Lorenzo Simonelli Chairman, President & Chief Executive Officer
Nancy K. Buese Chief Financial Officer
Jeff Fleece Chief Information Officer
Gregory D. Brenneman Independent Director
Lynn Laverty Elsenhans Independent Non-Executive Director
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