Luxembourg – 31 July 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, OTC:SUBCY, XSTO:SUBCo, the Company) announced today results of Subsea7 Group (the Group, Subsea7) for the second quarter and first half of 2025 which ended 30 June 2025.

Highlights 

  • Second quarter Adjusted EBITDA of $360 million, up 23% on the prior year period, equating to a margin of 21%
  • Strong operational and financial performance from both Subsea and Conventional and Renewables, with Adjusted EBITDA margins of 21% and 17% respectively
  • Guidance for full year 2025 re-affirmed
  • A high-quality backlog of $11.8 billion gives over 90% visibility on 2025 revenue guidance
  • Balance sheet remains strong with net debt including lease liabilities of $695 million, equating to 0.6 times the Adjusted EBITDA generated in the last four quarters
  • On 23 July 2025 a definitive agreement with Saipem was signed for a merger of equals that will create a global leader in energy services
  Second Quarter Half Year
For the period (in $ millions, except Adjusted EBITDA margin and per share data) Q2 2025
Unaudited
Q2 2024
Unaudited
1H 2025
Unaudited
1H 2024
Unaudited
Revenue 1,756 1,739 3,285 3,134
Adjusted EBITDA(a) 360 292 596 454
Adjusted EBITDA margin(a) 21% 17% 18% 15%
Net operating income 186 137 263 157
Net income 131 63 148 92
         
Earnings per share – in $ per share     …

Full story available on Benzinga.com