Statutory Auditors News

San Donato Milanese, 9 May 2011 - The Board of Directors of Saipem S.p.A., convened and following the resolutions taken by the Shareholders’ Meeting on May 4, 2011, approved the appointments of the Chairman, Deputy Chairman and CEO and Deputy CEO of Saipem S.p.A. It also ascertained the independence requirements for Board Directors and Statutory Auditors and appointed the members of the internal Board Committees. The Board of Directors applied the evaluation criteria set forth in the Corporate Governance Code to ascertain that the Directors Galateri di Genola…

The executive committee of Euronav NV (Euronext Brussels: EURN) reported its financial results for the three months ended 31st March 2009. All figures have been prepared under IFRS (International Financial Reporting Standards) and have not been reviewed by the joint statutory auditors. The figures have been prepared without taking into account any impact of deferred taxes. The company had a net income of $16.8m (first quarter 2008: $80.7m) or $0.34 (first quarter 2008: $1.56) per share, for the first quarter 2009. EBITDA for the same period was $79m (first quarter 2008: $154.2m). The average daily time charter equivalent rates (TCE) obtained by the company’s fleet in the Tankers International pool was approximately $47…

·        Turnover: first semester $253.6m; third quarter $130.4m; YTD 2008 $384m; YTD 2007 $361.5m. ·        Operating cash flow (EBITDA): first semester $63.5m; third quarter $3.6m; YTD 2008 $97.1m; YTD 2007 $88.5m. ·        Operating result (EBIT): first semester $31.5m; third quarter $16.2m; YTD 2008 $47.7m; YTD 2007 $49m. ·        Average number of shares: first semester 33,726,338; third quarter 33,146,594; YTD 2008 33,531,679; YTD 2007 34,983,120. ·        Operating cash flow (EBITDA) in USD per share: first semester $1.88; third quarter $1.01; YTD 2008 $2.90; YTD 2007 $2.53. ·        Operating result (EBIT) in USD per share: first semester $0.93; third quarter $.49; YTD 2008 $1.42; YTD 2007 $1.40.