Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

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

Published by Global Banking & Finance Review®

Posted on February 24, 2026

1 min read

Last updated: February 24, 2026

Activist investor 7Square urges Nuernberger to explore takeover offers - Global Banking & Finance Review — The featured image illustrates the financial landscape as activist investor 7Square pressures Nuernberger to evaluate rival takeover offers, emphasizing the ongoing competition in the insurance sector.

Quick Summary

Saipem posted a 22% rise in Q4 2025 adjusted EBITDA to €515m, beating consensus. It now targets ~€1.9bn adjusted core earnings in 2026, up from €1.72bn in 2025, while advancing its merger with Subsea 7.

Saipem’s Q4 Adjusted Core Earnings Climb 22%, Eyes €1.9B in 2026

2026 Adjusted Earnings Outlook (~€1.9B)

Saipem Q4 2025 Results and 2026 Outlook

MILAN, Feb 24 (Reuters) - Italian energy contractor Saipem 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.

Merger Agreement with Subsea 7

Adjusted Core Profit Up 22% Year-on-Year

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

EBITDA Beats LSEG Consensus (€515m vs €482m)

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.

Exchange Rate Used: $1 = €0.8488

($1 = 0.8488 euros)

Reporting and Editing Credits

(Reporting by Francesca Landini, editing by Alvise Armellini)

Key Takeaways

•Q4 2025 adjusted EBITDA rose ~22% to €515m, topping the €482m LSEG consensus.
•Saipem guides roughly €1.9bn adjusted core earnings for 2026, up from €1.72bn in 2025.
•The company signed a merger agreement with Subsea 7 in 2025; integration work continues.
•Beat driven by resilient project execution in energy services and offshore E&C.
•Article cites FX of $1 = €0.8488 for context.

Frequently Asked Questions about Italy's Saipem reports 22% rise in Q4 adjusted core earnings

1What is the main topic?

Saipem reported a 22% year-on-year increase in Q4 2025 adjusted EBITDA to €515 million, beating analyst expectations, and issued stronger guidance for 2026.

2How did results compare with forecasts?

Adjusted EBITDA reached €515 million, ahead of the €482 million analyst consensus compiled by LSEG, indicating a stronger-than-expected quarter.

3What guidance did Saipem provide?

The company expects adjusted core earnings of roughly €1.9 billion in 2026, up from €1.72 billion in 2025, reflecting confidence in its project pipeline.

Saipem Q4 2025 Results and 2026 Outlook

Merger Agreement with Subsea 7

Adjusted Core Profit Up 22% Year-on-Year

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

EBITDA Beats LSEG Consensus (€515m vs €482m)

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.

Exchange Rate Used: $1 = €0.8488

($1 = 0.8488 euros)

Reporting and Editing Credits

(Reporting by Francesca Landini, editing by Alvise Armellini)

Key Takeaways

•Q4 2025 adjusted EBITDA rose ~22% to €515m, topping the €482m LSEG consensus.

•Saipem guides roughly €1.9bn adjusted core earnings for 2026, up from €1.72bn in 2025.

•The company signed a merger agreement with Subsea 7 in 2025; integration work continues.

•Beat driven by resilient project execution in energy services and offshore E&C.

•Article cites FX of $1 = €0.8488 for context.

Frequently Asked Questions

1What is the main topic?

Saipem reported a 22% year-on-year increase in Q4 2025 adjusted EBITDA to €515 million, beating analyst expectations, and issued stronger guidance for 2026.

2How did results compare with forecasts?

Adjusted EBITDA reached €515 million, ahead of the €482 million analyst consensus compiled by LSEG, indicating a stronger-than-expected quarter.

3What guidance did Saipem provide?

The company expects adjusted core earnings of roughly €1.9 billion in 2026, up from €1.72 billion in 2025, reflecting confidence in its project pipeline.