reports
- ABGSC Oil & Oil Services Research
- Haakon Amundsen
- John Olaisen
Subsea 7 S.A. Announces Third Quarter 2024 Results
Subsea 7 S.A. Announces Third Quarter 2024 Results Luxembourg – 21 November 2024 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355, the Company) announced today results of Subsea7 Group (the Group, Subsea7) for the third quarter which ended 30 September 2024. Highlights Third quarter Adjusted EBITDA of $321 million, up 59% on the prior year period, equating to a margin of 18% Robust free cash flow of $138 million in the third quarter, leading to a reduction in net debt of $170 millionAdjusted EBITDA in the first nine months of 2024 of $775 million, exceeding the prior fu...
- Martin Huseby Karlsen
Subsea 7 (Buy, TP: NOK260.00) - All eyes on 2025 guidance
We are in line with consensus on Q3e adj. EBITDA and expect 2025 revenue guidance to be the key focus (margin guidance already provided). Our 2025e revenue of USD7.1bn is in line with consensus, with YOY growth supported by an already-secured backlog (69% backlog coverage versus 55% historically), higher dayrates for its PLSVs, and two new fleet additions in 2025. We reiterate our BUY and NOK260 target price.
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Oliver Dunvold
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- Haakon Amundsen
- John Olaisen
Subsea7 share repurchases
Subsea7 share repurchases Luxembourg – 11 November 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced transactions made in accordance with its share repurchase programme during the week commencing 4 November 2024. Date on which the share repurchase programme was announced: 25 July 2019, with a two-year extension announced on 19 April 2023. The duration of the share repurchase programme: until 18 April 2025. In the period from 4 November 2024 until 8 November 2024 Subsea 7 S.A. has repurchased a ...
Seaway7 awarded offshore wind contract in the UK
Seaway7 awarded offshore wind contract in the UK Luxembourg – 6 November 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award to Seaway7, part of the Subsea7 Group, of a substantial1 contract by ScottishPower Renewables for the transport and installation of the inter-array cables of the East Anglia TWO offshore wind project. ScottishPower Renewables’ £4 billion East Anglia TWO offshore windfarm will be located around 33 kilometres from the east coast of England in the Southern North Sea. Successful in the UK Government’s contracts for difference (CfD) allocation rou...
Subsea7 share repurchases
Subsea7 share repurchases Luxembourg – 4 November 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced transactions made in accordance with its share repurchase programme during the week commencing 28 October 2024. Date on which the share repurchase programme was announced: 25 July 2019, with a two-year extension announced on 19 April 2023. The duration of the share repurchase programme: until 18 April 2025. In the period from 28 October 2024 until 1 November 2024 Subsea 7 S.A. has repurchased a t...
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
SUBC – Ex. Dividend NOK 3.00 on 30 October 2024
SUBC – Ex. Dividend NOK 3.00 on 30 October 2024 Luxembourg – 30 October 2024 Issuer: Subsea 7 S.A. Ex-date: 30 October 2024Dividend amount: NOK 3.00Announced currency: Norwegian Krone Contact for investment community enquiries:Katherine Tonks Investor Relations Director Tel 8 This information is published in accordance with the requirements of the Continuing Obligations. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 30 October 2024 at 07:00 CET.
Seaway7 awarded offshore wind contract in UK
Seaway7 awarded offshore wind contract in UK Luxembourg – 29 October 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award to Seaway7, part of the Subsea7 Group, of a substantial1 contract by Ørsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Seaway7’s scope of work covers the transportation and installation (T&I) of 192 66kV inter-array cables, measuring approximately 500 kilometres in length, with offshore activities scheduled to commence in 2026. Stuart Fitzgerald, ...
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
Subsea7 share repurchases
Subsea7 share repurchases Luxembourg – 28 Oct 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced transactions made in accordance with its share repurchase programme during the week commencing 21 Oct 2024. Date on which the share repurchase programme was announced: 25 July 2019, with a two-year extension announced on 19 April 2023. The duration of the share repurchase programme: until 18 April 2025. In the perio...
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
Subsea 7 S.A.: Notification of major holding
Subsea 7 S.A.: Notification of major holding Subsea 7 S.A. has received notification of transactions in its shares by a major shareholder. Please see the attached forms for details. This information is pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. Attachment
Subsea 7 S.A. Notification of major holding
Subsea 7 S.A. Notification of major holding Subsea 7 S.A. has received notification of transactions in its shares by a major shareholder. Please see the attached forms for details. This information is pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. Attachment
Subsea7 share repurchases
Subsea7 share repurchases Luxembourg – 21 Oct 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced transactions made in accordance with its share repurchase programme during the week commencing 14 Oct 2024. Date on which the share repurchase programme was announced: 25 July 2019, with a two-year extension announced on 19 April 2023. The duration of the share repurchase programme: until 18 April 2025. In the perio...
Subsea 7 S.A.: Notification of major holding
Subsea 7 S.A.: Notification of major holding Subsea 7 S.A. has received notification of transactions in its shares by a major shareholder. Please see the attached forms for details. This information is pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. Attachment
Subsea 7 S.A. Q3 2024 Conference Call Notification
Subsea 7 S.A. Q3 2024 Conference Call Notification Luxembourg –15 October 2024 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) will publish its third quarter 2024 results for the period ended 30 September 2024 on Thursday 21 November 2024 at 08:00 CET. A conference call and simultaneous webcast for the investment community will be held on Thursday 21 November 2024 at 11:00 UK / 12:00 CET. From 08:00 CET the results announcement and the presentation to be reviewed during the conference call and webcast will be available on the Subsea7 website: Conference call registration:Call: ...
- Martin Huseby Karlsen
Petrobras set to reduce 2025 capex
Petrobras is expected to reduce 2025 capex from USD21bn to around USD17bn, according to a Reuters article today. Petrobras has a 5-year capex plan, but there are usually changes to its plans, and “current year” / “near-term” spending has a track-record of being revised lower (2024 capex was recently cut c24% to USD13.5bn–14.5bn), as Petrobras has struggled with value-chain delays. The updated spending represents YOY growth in 2025 of c21% (versus c50% earlier). The article mentions equipment pri...
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