Report
Baptiste Lebacq

Subsea 7 : Confirmation que la profitabilité 2019 sera un point bas

>Achat maintenu, OC 145 NOK - Nous maintenons notre recommandation Achat sur le titre pour 1/ jouer l’accélération des investissements en Susbea (seul acteur de notre échantillon 100% offshore), 2/ être positionné sur le marché des éoliennes offshore (capacités installées en croissance à 2 chiffres), 3/ bénéficier des complémentarités avec Schlumberger à travers Subsea Integration Alliance. A la suite des résultats T3, nous n’avons que très marginalement ajusté notre...
Underlying
Subsea 7 S.A.

Subsea 7 is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. Co. provides products and services required for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore. Co. also provides products and capabilities to deliver full Life of Field services to its clients. Through its i-Tech Division, Co. provides remotely operated vehicles and tooling services to support exploration, production and drilling activities.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Baptiste Lebacq

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