Report
Baptiste Lebacq

Subsea 7 : Vent mauvais sur Taiwan

>Surperformance OC 100 NOK (vs 110 NOK) - A la suite de la publication des résultats du T2 et de la conférence call, nous avons revu en baisse notre séquence d’EBITDA 2021/2023 de 3.1% en moyenne ainsi que notre OC qui ressort désormais à 100 NOK (multiple de VE/ EBITDA next 12M de 5x). Le groupe a pris les devants en matière de transition énergétique (suite aux bonnes prises de commandes dans le secteur pétrolier sur le T2, c’est désormais 22% du backlog qui est...
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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