Subsea 7 : Heading for a wave of offshore contracts
>Outperform rating maintained: play the acceleration in the offshore segment - Following Subsea7’s 2022 results and the conference call, we are maintaining our 2023-2025 EBITDA assumptions and have trimmed our 2023 EPS estimates to take account of a slightly larger tax burden than was previously expected. As we see it, the group is well positioned to benefit from the upcoming acceleration in offshore capex (we see annual average growth in the market of over 15% for 20...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.
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.
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