Saipem's board on Thursday approved the Milan-based major's preliminary 2005 consolidated financial statements.
The company reported net income of 255 million euros last year, compared to 235 million in 2004. Other preliminary results are as follows:
- Revenues: 4,528 million euros (4,306 million in 2004)
- Operating income: 365 million euros (328 million in 2004)
- Net income: 255 million euros (235 million in 2004)
- Cash flow: 454 million euros (434 million in 2004)
- Dividend per share: 0.19 euros per ordinary share (0.15 in 2005); 0.22 euro per savings share (0.18 in 2005).
The board also included Saipem's 2005 statutory financial statements, which were prepared to comply with Italian law. In the statutory statements, Saipem reported net income of 124 million euros. The figure was 61 million euros the previous year.
Both the consolidated and statutory statements are being reviewed by independent auditors.