Saipem forecast a sales pick-up in the second half of 2021 after posting operating and net losses in the first six months, hurt by the pandemic and problems with a wind project.

On Friday, the Italian energy services group posted an adjusted operating loss of €266 million ($317 million), compared with a €355 million profit one year earlier, while revenues fell 13% to €3.2 billion.

The net result for the six months ending 30 June was a loss of €779 million compared with an €885 million loss in the same period last year.