Subsea 7 reported a 28% increase in Adjusted EBITDA to $714M in 2023, with a $7.4B contract award backlog; Q4 revenue reached $1.
Subsea 7 reported a 28% increase in Adjusted EBITDA to $714M in 2023, with a $7.4B contract award backlog. Q4 revenue reached $1.6B, a 26% increase YoY. The company expects a 33% Adjusted EBITDA growth in 2024. Notable project progress includes pipeline stalk completion in Australia, ramping up Sakarya Phase 2a in Turkey, and engineering advancements on Mero 3&4 in Brazil.
February 29, 2024
3 Articles