Subsea 7 believes it is on track to hit its 2023 earnings targets.
The Oslo-listed offshore vessel owner said on Wednesday that expected strength in the second half of the year would help boost its revenue above 2022’s $5.1bn mark and adjusted Ebitda over last year’s $559m.
“Pricing and contract terms showed continued positive momentum during the second quarter and recent awards, as well as the current market dynamics, support our view that adjusted Ebitda margins should gradually return to a range of 15% to 20% over the coming four years,” the company said in its earnings release.
