Saipem SpA

BIT:SPM Stock Report

Market Cap: €8.4b

Saipem Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Alessandro Puliti

Chief executive officer

€3.4m

Total compensation

CEO salary percentage29.71%
CEO tenure4.3yrs
CEO ownershipn/a
Management average tenure3.5yrs
Board average tenure2yrs

Recent management updates

Recent updates

Analysis Article • May 04

Saipem's (BIT:SPM) Soft Earnings Are Actually Better Than They Appear

Saipem SpA's ( BIT:SPM ) stock was strong despite it releasing a soft earnings report last week. We think that...
Narrative Update • Feb 10

SPM: Higher Fair Value Will Still Face Execution And Earnings Visibility Risk

Analysts have lifted their fair value estimate for Saipem from €2.39 to €2.49, reflecting updated assumptions on discount rates, margins and future P/E, even as recent research includes both a higher Street price target and at least one downgrade in stance. Analyst Commentary Street research around Saipem has turned more mixed, with one major bank adjusting its price target upward while at least one bearish analyst has shifted to a more cautious stance on the shares.
Narrative Update • Jan 27

SPM: Slightly Higher Fair Value Will Still Highlight Execution Risk

Analysts have raised their price target for Saipem slightly, from €2.37 to about €2.39 per share. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E multiples.
Narrative Update • Jan 12

SPM: Cautious Outlook Will Highlight Execution Risks And Limited Multiple Rerating Potential

Analysts have lowered their price target on Saipem to €2.75 from €2.83, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E as the basis for the revised view. Analyst Commentary JPMorgan's revised €2.75 price target, down from €2.83, signals that even supportive coverage is building in more conservative assumptions on discount rates, revenue growth, margins and future P/E for Saipem.
Narrative Update • Dec 26

SPM: Mixed Street Views Will Highlight Execution Risks Amid Balanced Outlook

Saipem's analyst price target has been nudged higher to EUR 2.37 from EUR 2.35 as analysts factor in slightly stronger long term profitability and a marginally lower discount rate, despite mixed short term target revisions on the Street. Analyst Commentary Recent Street research reflects a more nuanced stance on Saipem, with select bearish analysts trimming price targets even as others remain constructive on the stock’s long term prospects.
Narrative Update • Dec 12

SPM Will Face Mixed Views As Project Execution Shapes Market Expectations

Analysts have nudged Saipem's fair value slightly lower, trimming the price target by EUR 0.01 as they factor in a reduced discount rate along with slightly weaker revenue growth and profit margin expectations. Analyst Commentary Recent Street research on Saipem reflects a mixed backdrop, with some major houses trimming their fair value assumptions even as others nudge targets higher.
Analysis Article • Nov 01

We Think Saipem's (BIT:SPM) Healthy Earnings Might Be Conservative

Saipem SpA's ( BIT:SPM ) solid earnings announcement recently didn't do much to the stock price. Our analysis suggests...
Analysis Article • Sep 08

Here's Why Saipem (BIT:SPM) Can Manage Its Debt Responsibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Aug 18

Saipem SpA (BIT:SPM) Doing What It Can To Lift Shares

BIT:SPM 1 Year Share Price vs Fair Value Explore Saipem's Fair Values from the Community and select yours When close to...
Analysis Article • Jul 28

Saipem SpA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Saipem SpA ( BIT:SPM ) shareholders are probably feeling a little disappointed, since its shares fell 3.9% to €2.31 in...
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New Narrative • Dec 11

Natural Gas Projects And Fleet Utilization Will Boost Revenue Growth And Enhance Margins

High order intake and backlog in offshore E&C ensure future revenue growth, supporting upgraded guidance and consistent revenue streams.

CEO Compensation Analysis

How has Alessandro Puliti's remuneration changed compared to Saipem's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

€312m

Dec 31 2025n/an/a

€311m

Sep 30 2025n/an/a

€321m

Jun 30 2025n/an/a

€328m

Mar 31 2025n/an/a

€326m

Dec 31 2024€3m€1m

€306m

Sep 30 2024n/an/a

€307m

Jun 30 2024n/an/a

€263m

Mar 31 2024n/an/a

€242m

Dec 31 2023€3m€1m

€185m

Sep 30 2023n/an/a

-€74m

Jun 30 2023n/an/a

-€152m

Mar 31 2023n/an/a

-€222m

Dec 31 2022€2m€423k

-€315m

Compensation vs Market: Alessandro's total compensation ($USD3.96M) is about average for companies of similar size in the Italian market ($USD4.26M).

Compensation vs Earnings: Alessandro's compensation has been consistent with company performance over the past year.

CEO

Alessandro Puliti (62 yo)

4.3yrs
Tenure
€3,366,000
Compensation

Mr. Alessandro Puliti serves as Chief Executive Officer and Director of Saipem SpA. since May 14, 2024 and its Chief Operating Officer since February 2022. Mr. Puliti served as a Director of Var Energi AS...

Leadership Team

NamePositionTenureCompensationOwnership
Alessandro Puliti
CEO, GM4.3yrs€3.37mno data
Davide Manunta
Chief Tech & Innovation Officer1.3yrs€30.00kno data
Paolo Calcagnini
CFO, Chief Project Control & Financial Advisory Officer4yrsno datano data
Alberto Goretti
Head of Investor Relations & Rating Management3.3yrsno datano data
Simone Chini
General Counsel & Secretary of the Board of Directors4yrsno datano data
Ottavia Stella
Chief Integrated Risk Management & Compliance Officer3.5yrsno datano data
Rossella Carrara
Director of External Communication & Public Affairsno datano datano data
Massimiliano Branchi
Chief People of HSEQ & Sustainability Officer3.3yrsno datano data
Fabrizio Botta
Chief Operating Officer of Energy Carriers4.4yrsno datano data
Gianalberto Secchi
Chief Operating Officer of Offshore Windno datano datano data
Paolo Albini
Chief Supply Chainno datano datano data
Massimiliano Bellotti
Chief Operating Officer of Asset Based Services1.8yrsno datano data
3.5yrs
Average Tenure
46yo
Average Age

Experienced Management: SPM's management team is considered experienced (3.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Alessandro Puliti
CEO, GM3.8yrs€3.37mno data
Giovanni Fiori
Chairman of Statutory Auditorsno datano datano data
Monica Girardi
Non-Executive & Independent Directorless than a yearno datano data
Paul Schapira
Non-Executive & Independent Director8yrs€136.00kno data
Patrizia Giangualano
Independent Director5.1yrs€111.00kno data
Francesca Mariotti
Independent Director2yrs€80.00kno data
Ottavio De Marco
Statutory Auditorno datano datano data
Paolo Sias
Non-Independent Director2yrs€53.00kno data
Antonella Fratalocchi
Statutory Auditorno datano datano data
Elisabetta Serafin
Independent Chairman2yrs€290.00kno data
Francesca Scaglia
Non-Independent Director2yrs€81.00kno data
Mariano Mossa
Independent Director2yrs€49.00kno data
2.0yrs
Average Tenure
57.5yo
Average Age

Experienced Board: SPM's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/08 06:36
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Saipem SpA is covered by 44 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Francesco SalaBanca Akros S.p.A. (ESN)
Francesco TaddeiBanca Akros S.p.A. (ESN)
Francesco SalaBanca Akros S.p.A. (ESN)