Image source: Imagoeconimica
Saipem, on May 17 the shareholders’ meeting which will have to entrust the board with the proxy for the recapitalization
“The forecast for the launch of thecapital increase of 2 billion by the end of the year is confirmed. Indeed, we are working on a roadmap in which we would like to accelerate and bring it to port during the summer ”. This is indicated by the CEO of Saipem, Francesco Caioin an interview with Il Sole 24 Orand together with the general manager Alessandro Clean. Now the next step is set for the May 17 “With the’shareholders’ meeting who will have to entrust the board with the mandate to start the recapitalization ”, specifies Caio. By the end of the current month, the signal, expected by the markets, on the already announced sale of the onshore drilling.
Caio, asked about the problems of the risk managementabout what didn’t work and how it was done, “the problems, explains the CEO, come from afar, it must be remembered that in the last six years this company has accumulated almost 5 billion in losses and is competing in a context in very rapid evolution and with an organization in which the center had delegated a lot to divisions “.
“So, first of all we have inserted one threshold of 250 million compared to a situation in which the divisions had freedom of maneuver for orders up to a billion: now, if they exceed the new bar, they must be reviewed at the table of the company top management and, in some cases, even the board of directors can have greater visibility and monitoring narrow. Along with this, the creation of a commercial management and a unique purchasing and procurement department makes it structurally necessary to have a close comparison with a much more managerial role of the corporate “.
With regard to contracts relating tooffshore wind“they probably arose from the hypothesis of using means that did not have much work to do on other fronts at a certain moment and, since they were below the threshold and did not have to go to the council, they were entirely managed by the divisions that saw in these an opportunity, but so it wasn’t because we went to make much more onerous commitments of the value of the order having in front of us not our traditional client, the oil & gas company, but consortia made above all by financial investors who have an interest linked to a return on invested capital, against a contract, and a finite budget “.
“With the result that the backlog review has brought out, on these projects, one billion more costs than expected. On the two contracts, which we highlighted in the backlog review, we now have the opportunity to complete them trying to minimize the damage and working with customers to manage these risks as reasonable as possible. And i the results of the negotiations are encouraging. For the future, then, we are also equipping ourselves with the prospect of a partnership with contractual forms that do not unload the risk entirely on Saipem’s shoulders “, emphasizes Caio.
Saipem, Caio: “Energy diversification? Front that can see us at the forefront”
On the front of the energy diversification “there are many opportunities that can see us at the forefront”, underlines the CEO, who underlines how it is “linked to the issue of having regasification technologies for the use of gas that does not come from methane pipelines. Saipem it is already developing this activity around the world in terms of regasification, liquefaction and pipelines. The opportunity we identify, he points out, is to have the ability to develop gods regasifiers smaller and easily implemented, achievable in a shorter time, half that of a traditional ground-mounted plant in different numbers to allow Italy and other countries to be able to obtain supplies and have access to alternative sources “.
In this context, the signal, expected by the markets, will arrive by the end of this month on the already announced sale of onshore drilling: this was confirmed by the general manager Puliti, who took part together in the ad in the question and answer with the newspaper.
Read also:
Center-right, Tajani: “Meloni premier? No foreclosure from Forza Italia”
Russia, with 9 May we return to the USSR. Putin crowns himself the new Stalin
Ukrainian war, because the defeat of Russia can be good for Moscow
Fusaro: “Dragons from Biden for the NATO chair, Italy, US colony”
Farewell to Marco Palmisano, manager and friend of affaritaliani.it
Poland, red paint on the Russian ambassador in Warsaw. VIDEO
BPER Banca, the first exhibition on the Group’s Historical Archives is underway
AXA Group wins Enel X tenders to provide assistance services
Covisian participates in the third edition of AI Week 2022
Festival of Economics, the 17th edition kicks off from 2 to 5 June
#Saipem #tightening #time #sale #Caio #Capital #increase #summer