The revenue of Italian energy company Saipem increased to €9.09 billion in 2019 from €8.53 billion in 2018, the company announced on Wednesday.
Saipem said its earnings before depreciation and amortization (EBITDA) also increased to €1.27 billion in 2019 from €1.02 billion in 2018.
The company's net profit increased to €12 million in 2019, after a loss of €472 million in 2018.
"Efforts over the last few years to achieve a solid and rigorous economic and financial stability have allowed us to beat all targets set for 2019," said Stefano Cao, Saipem's CEO.
Saipem's revenues for 2020 are expected to be in the region of €10 billion, with adjusted EBITDA above €1.1 billion.
€1 equals 6.69 Turkish liras on Feb. 26
By Murat Temizer