An update from Subsea 7 ( (GB:0OGK) ) is now available.
Subsea 7 reported a strong financial performance for the fourth quarter and full year of 2024, with a 53% increase in full-year Adjusted EBITDA to $1.1 billion and a robust free cash flow of $408 million. The company has a high-quality backlog of $11.2 billion, providing over 80% visibility on 2025 revenue guidance, and has proposed a $350 million dividend. Subsea 7’s strategic focus on late-cycle, long-duration developments and its strong balance sheet position it well for future growth, as evidenced by its proposed merger with Saipem S.p.A., which aims to create a balanced ownership structure and enhance market positioning.
More about Subsea 7
Subsea 7 S.A. is a global leader in the delivery of offshore projects and services for the energy industry, focusing on both hydrocarbon and renewable sectors. The company specializes in subsea engineering, construction, and services, providing solutions that enhance energy security and support long-term energy demand growth.
YTD Price Performance: 2.64%
Average Trading Volume: 41,298
Technical Sentiment Consensus Rating: Sell
Current Market Cap: NOK53.89B
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