Saipem confirms 2026 targets, warns about Middle East crisis impact

Subsea 7

21/04/2026 18:04

MILAN, April 21 (Reuters) - Italian oilfield service provider Saipem SPMI.MI warned on Tuesday that a prolonged closure of the Hormuz Strait could impact the delivery of components needed for its projects but confirmed its full-year financial targets.

The group reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 434 million euros, up 24% year-on-year and slightly below an analyst consensus of 447 million euros ($524.91 million) compiled by LSEG.

($1 = 0.8516 euros)

 (Reporting by Francesca Landini, editing by Giulia Segreti)

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