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Italy’s Saipem to submit updated business plan to board on March 15


© Reuters. FILE PHOTO: A Saipem logo in seen on the bridge of the Saipem 10000 deepwater drillship in Genoa’s harbour, Italy, November 19, 2015. Picture taken November 19, 2015. REUTERS/Alessandro Garofalo

MILAN (Reuters) – Italian energy services group Saipem said on Tuesday it would submit an updated strategic plan for approval by the board on March 15.

Sapem, which presented its 2022-2025 plan last October, issued a surprise profit warning at the end of last month and pulled its outlook.

The company, controlled by energy group Eni and state lender CDP, said it would present guidelines for the review of the plan with some financial results on Feb. 24.

The plan will be presented to the market in a conference call on March 16, it added.

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