Q3 2025 Subsea 7 SA Earnings Call Transcript
Key Points
- Subsea 7 SA (ACGYF) reported a 27% year-on-year growth in adjusted EBITDA, reaching $407 million with a margin of 22%.
- The company achieved a high order intake of $3.8 billion in the quarter, resulting in a book-to-bill ratio of 2.1 times.
- Subsea 7 SA (ACGYF) has a record backlog close to $14 billion, providing strong revenue visibility for 2026.
- The company has increased its guidance for 2025, expecting adjusted EBITDA margins between 20% and 21%, up from the previous 18% to 20%.
- Subsea 7 SA (ACGYF) is confident in its technology-led solutions, such as the 4insight software, which enhances operational efficiency and project delivery.
- The Renewables segment saw a 19% reduction in revenue compared to the previous year, attributed to decreased activity levels.
- Net foreign exchange losses amounted to $38 million, impacting the company's net income.
- The company faces uncertainties related to the UK offshore wind sector, with the Allocation Round 7 budget being lower than anticipated.
- Subsea 7 SA (ACGYF) is experiencing challenges in the UK market, which is not aligning with global growth trends.
- The company is dealing with the Brazilian antitrust process concerning a merger, which may affect timelines and outcomes.
Welcome, everyone. Thank you for joining us. With me on the call today are John Evans, our CEO; Mark Foley, our CFO; and Stuart Fitzgerald, CEO of Seaway7.
The results press release is available for download on our website, along with the slides that we'll be using during today's call. Please note that some of the information discussed on the call today will include forward-looking statements that reflect our current views. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. For more information, please refer to the risk factors discussed in our annual report or in today's quarterly press release.
I'll now turn it over to John.
Thank you, Katherine, and good afternoon, everyone. I will start with a summary of the quarter before passing over to Mark for more details of the financial results.
Turning to slide 3. Subsea7 delivered third-quarter adjusted
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
