Saipem CEO confident no more surprises ahead

MILAN Thu Feb 7, 2013 12:49pm EST

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MILAN Feb 7 (Reuters) - The new management of Saipem is confident there will be no more surprises that could impact the group, Chief Executive Umberto Vergine said on Thursday.

"We are very confident we don't have any surprises that can hit us," Vergine told analysts on a conference call, excluding any extraordinary event.

Last week Saipem shocked the market when it cut 2012 guidance and painted a gloomy outlook for 2013.

Asked by an analyst if jurisdictions outside of Italy, such as the US, could start probes into alleged corruption in Algeria, Vergine said he had no evidence of any possible probe other than that being carried out by Milan prosecutors.

Saipem has ADRs traded in the United States.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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