Q1 2023 Saipem SpA Earnings Call Transcript
Good morning. This is the conference operator. Welcome and thank you for joining the Saipem First Quarter 2023 Results Presentation. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Alessandro Puliti, CEO and General Manager. Please go ahead, sir.
Thank you and Good morning and welcome to Saipem first quarter 2023 results presentation. I'm here with Paolo Calcagnini, our CFO and with the entire Saipem management team.
Starting with the financials, I am pleased to report another quarter of strong delivery with a robust growth in revenues, plus 22% year-on-year and even more in EBITDA at EUR 191 million or plus 66% year-on-year. Driven by our offshore businesses, we then touched EBITDA margin of 7.4%.
Financial net debt, pre-IFRS 16 was negative by EUR 45 million at the end of March. Or in other words, we have added EUR 45 million of net cash before lease liabilities and this is substantially flat versus year-end 2022. Net debt post-IFRS 16
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