* Adjusted Net in 2014 to 180 million, revenues up 8.7% * CFO: no capital increase plan, debt 2015 saw under 4 billion * Virgo: “We reported Saipem to profitability” (Rewrites, adds other details from call) Giancarlo Navach MILAN, February 16 (Reuters) – Saipem closes 2014 with a net loss of EUR 230 million, due to write-downs of € 540 million, while the adjusted net profit (without extraordinary items) is positive € 180 million on revenues amounted to 12.873 million up 8.7%, thanks to the important contribution of the E & amp; C offshore. In the latest estimates of the end of October the company planned to close the year with a profit of 280 million. In the last quarter, however, the scenario has deteriorated because of the collapse in oil prices and the downward revision of investment by the oil companies. EBIT adjusted returns to profitability with 465 million and takes into account the impact of 130 million write-down on the pending revenues from contracts in the engineering & amp; Construction onshore. EBIT amounted to 55 million and takes account of a writedown of 410 million euro in the fourth quarter as a result of impairment of certain assets. At the end of December, net financial debt of the company’s engineering and construction 43% owned by Eni amounted to 4,424 million down from the end of 2013 of 336 million, the first reduction in debt in the last three years, said now in the note. No plans to increase capital to reduce debt, as explained by the CFO, Alberto Chiarini, during a call with analysts: “We have a plan to increase the capital. We continue to benefit from the financial relationship with Eni and we are focused on reducing debt in an organic way. ” Moved to 2018 the goal of bringing the debt to 2 billion. More …
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