Modec ( (MDIKF) ) has released its Q2 earnings. Here is a breakdown of the information Modec presented to its investors.
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Modec, Inc., a company listed on the Tokyo Stock Exchange, specializes in the engineering, procurement, construction, and operation of floating offshore oil and gas production facilities, with a strong focus on large-scale ultra-deepwater projects. In its latest earnings report for the first half of 2025, Modec reported a revenue increase of 10.5% year-on-year, reaching $2.07 billion, driven by steady progress in FPSO construction projects. Despite the revenue growth, operating profit saw a decline of 7.8% to $172.2 million, while profit attributable to owners of the parent rose by 17% to $145.1 million. Modec’s financial position remained stable, with total assets slightly increasing to $4.5 billion and total equity rising by $111.4 million to $1.31 billion, attributed mainly to increased retained earnings. The company also saw significant growth in orders received, amounting to $5.04 billion, largely due to new contracts in Brazil. Looking ahead, Modec maintains a positive outlook, with expectations of continued demand for its services in the deepwater oil field sector, despite global economic uncertainties.