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    SPM   IT0005252140

SAIPEM S.P.A.

(SPM)
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Saipem S p A : presents at Expo 2020 Dubai an installation inspired by renewable energy, signed today the partnership between the company and the Commissariato Italiano

02/16/2021 | 09:08am EDT

Saipem will participate at the Dubai Universal Exposition, opening on October 1st, 2021, with an installation inspired by renewable energy.

The company will collaborate as technical partner with the role of Official Premium Provider at the Italian Pavilion. The partnership agreement was signed today by Saipem's CEO, Stefano Cao, and by Italy's General Commissioner for Expo Dubai 2020, Paolo Glisenti.

For the first Universal Exposition held in an Arab country and entitled 'Connecting Minds, Creating the Future', the Italian Pavilion has chosen the theme 'Beauty connects People'. Indeed, 'Beauty' as the result of the harmonic synthesis between knowledge, know-how and value creation, through technology, arts, and sciences.

Within the exposition tour inside the Pavilion, a space is dedicated to Italian innovation. In line with the narrative language of the Pavilion, Saipem has contributed with a hanging installation, to be located at the space entrance, dedicated to renewable energy technologies, which the company is developing to support its clients through the energy transition.

The installation will refer to natural elements that will tell about Italy, creativity, innovation and energy, and the world at a global and local level, also by means of multimedia technologies. Saipem is present in the Middle East in the Abu Dhabi Emirate since 1970 and in the Sharjah Emirate with a logistics base covering an area of 90,000 square meters and representing Saipem'slogistics and operational hub for all its offshore activities in the Region. In addition to various projects, Saipem has also delivered the firstsection of the Etihad Railway in the United Arab Emirates in consortium with other companies and is looking with interest at the new green energy sector prospects in the country.

Paolo Glisenti, the Italian Commissioner, commented: 'Through its participation in the Italian Pavilion at Expo Dubai, Saipem will witness our Country's best skills in sustainability. The model that Saipem will exhibit in our Pavilion is an installation of great impact and significance. It will be representative of Italy's international leadership and strong technological competitiveness in today's energy transition path towards a resilient and sustainable world'.

Stefano Cao, Saipem's CEO, commented: 'Saipem's participation at Dubai's Expo 2020, where the first Universal Exposition in an Arab country will be held and in conjunction with the 50th anniversary of the United Arab Emirates founding, is particularly significant also considering our 50-year presence in the United Arab Emirates. It is an event linking Eastern and Western regions and confirms our significant role both within the Italian Country System and in a Middle Eastern Country with which we have an established relationship. With our installation we want to attest the innovation capacity of the Italian ingenuity applied also to the renewable energy sector to which the United Arab Emirates looks with particular interest. We therefore thank Italy Expo 2020 for this significant opportunity to represent Italy's ability to be incubators of ideas and excellence, combining it with our responsibility towards the Italian supply chain'.

Contact:

Tel: +39 0244231

Fax: +39 0244244415

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 7 415 M 8 830 M 8 830 M
Net income 2021 -276 M -329 M -329 M
Net Debt 2021 1 549 M 1 844 M 1 844 M
P/E ratio 2021 -7,65x
Yield 2021 0,09%
Capitalization 2 139 M 2 549 M 2 548 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,39x
Nbr of Employees 32 000
Free-Float 54,2%
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Mean consensus HOLD
Number of Analysts 20
Average target price 2,19 €
Last Close Price 2,15 €
Spread / Highest target 74,2%
Spread / Average Target 1,85%
Spread / Lowest Target -62,8%
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Managers and Directors
NameTitle
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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