https://seekingalpha.com/article/4763009-saipem-probably-leaving-value-on-the-table-in-subsea-7-merger [Seeking Alpha]
SUBSEA 7 S.A. S/ADR (SUBCY)
NASDAQ:AMEX Investor Relations:
subsea7.com/en/investor-relations.html
Company Research
Source: Seeking Alpha
Saipem's EBITDA is undervalued compared to Subsea 7, despite similar offshore activities and less leverage, which gives them the worse hand in the 50:50 Subsea 7 merger. The merger with Subsea 7 is expected to yield 300 million EUR in synergies, and vessel utilization is an important profit driver that Saipem's shareholders will benefit from. As the large 2022-2024 and onwards order vintage matures, margins will also improve as projects in their latter stages yield better. We think that Subsea 7 shareholders are getting a better deal currently so we aren't crazy about Saipem at the moment. Looking for a helping hand in the market? Members of The Value Lab get exclusive ideas and guidance to navigate any climate. Learn More » Michael Saint Maur Sheil/
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News
- Subsea 7 S.A. (OTCMKTS: SUBCY) was upgraded by analysts at Barclays PLC from a "hold" rating to a "strong-buy" rating.MarketBeat
- Subsea 7 S.A. Announces Fourth Quarter and Full Year 2024 Results [Yahoo! Finance]Yahoo! Finance
- DOF Group ASA (FRA:UV3) Q4 2024 Earnings Call Highlights: Strong Revenue Growth and Strategic Moves [Yahoo! Finance]Yahoo! Finance