Subsea 7 S.A. Reports Strong Q1 2025 Performance

Subsea 7 SA ( (SUBCY) ) has released its Q1 earnings. Here is a breakdown of the information Subsea 7 SA presented to its investors.

Subsea 7 S.A. is a Luxembourg-based company operating in the energy sector, specializing in offshore engineering and construction services, including subsea, conventional, and renewable energy projects.

In the first quarter of 2025, Subsea 7 S.A. reported a robust financial performance with a 46% increase in Adjusted EBITDA to $236 million, reflecting a margin of 15%. The company achieved a 10% year-on-year revenue growth, driven by strong project execution across its Subsea, Conventional, and Renewables segments.

Key financial highlights include a high-quality backlog of $10.8 billion, providing over 80% visibility on 2025 revenue guidance, and supporting an outlook for Adjusted EBITDA margin expansion to 18-20%. Despite a decrease in net income to $17 million from $29 million in the previous year, the company maintained a solid balance sheet with net debt of $632 million, equating to 0.5 times the Adjusted EBITDA generated in the last four quarters.

Looking forward, Subsea 7 remains optimistic about long-term energy demand growth, with strategic focus on deepwater developments and offshore wind opportunities, particularly in the UK. The company is well-positioned to deliver strong growth in profitability and cash generation, despite global economic uncertainties and commodity price volatility.