Italy's Saipem reports 22% rise in Q4 adjusted core earnings

Subsea 7

24/02/2026 18:04

MILAN, Feb 24 (Reuters) - Italian energy contractor Saipem SPMI.MI said on Tuesday it expected its adjusted core earnings to rise to roughly 1.9 billion euros ($2.2 billion) this year, from 1.72 billion euros in 2025.

The Milan-based group, which last year signed an agreement to merge with its rival Subsea 7 SUBC.OL, said its adjusted core profit in the fourth quarter of 2025 rose nearly 22% year-on-year.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 515 million euros, beating an analyst consensus of 482 million euros compiled by LSEG.

($1 = 0.8488 euros)

 (Reporting by Francesca Landini, editing by Alvise Armellini)

 ((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net/))