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    SPM   IT0005252140

SAIPEM S.P.A.

(SPM)
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Saipem S p A : Italy court turns down Saipem's appeal over market watchdog ruling

07/06/2021 | 01:16pm EDT

MILAN, July 6 (Reuters) - Italian energy services group Saipem said on Tuesday a court had turned down its appeal against a resolution by market watchdog Consob that it had not drawn up its 2016 results properly.

In a resolution in 2018, Consob alleged Saipem had not fully complied with regulations over reporting results relating to 2016.

The company later issued a press release providing a pro forma consolidated income statement and balance sheet for 2016 to comply with Consob's requests but said it did not share the regulator's judgment, filing an appeal with an administrative court.

On Tuesday Saipem said the administrative court had thrown out its request to have the Consob resolution annulled.

It said it reserved the right to appeal the latest ruling to a higher administrative court.

(Reporting by Stephen Jewkes; editing by Barbara Lewis)


ę Reuters 2021
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Analyst Recommendations on SAIPEM S.P.A.
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Financials
Sales 2021 7 448 M 8 728 M 8 728 M
Net income 2021 -770 M -902 M -902 M
Net Debt 2021 1 648 M 1 932 M 1 932 M
P/E ratio 2021 -2,60x
Yield 2021 0,09%
Capitalization 2 063 M 2 416 M 2 418 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,42x
Nbr of Employees 31 634
Free-Float 54,2%
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Technical analysis trends SAIPEM S.P.A.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 19
Last Close Price 2,08 €
Average target price 1,92 €
Spread / Average Target -7,98%
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Managers and Directors
Francesco Caio Chief Executive Officer, Director & GM
Antonio Paccioretti CFO & Manager-Financial Reporting
Silvia Merlo Chairman
Paul Simon Schapira Independent Non-Executive Director
Roberto Diacetti Independent Non-Executive Director
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