Subsea 7 reported a fall in renewables adjusted EBITDA to $51.8m in Q3 2025 from $61.7m a year earlier, according to its quarterly results.
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The business also recorded a decrease in renewables revenue to $302m compared to $375.6m in the same period of 2024.
Subsea 7 said net operating income from renewables was $20.8m in the quarter, down from $32.2m year-on-year.
The company said work progressed on Dogger Bank C, East Anglia THREE and Inch Cape in the UK, Revolution in the US, and Hai Long in Taiwan, while He Dreiht in Germany neared completion.
Subsea 7 added that the renewables business delivered a robust financial result despite what it described as challenging market conditions.