Subsea7 reported an increase in renewables adjusted EBITDA to $202m in the 2025 financial year from $185m in the preceding 12 months, according to its latest results.
The business also recorded a freeze in renewables revenues of $1.2bn after registering the same figure in 2024.
Subsea7 said the net operating income margin from renewables was 6.2% in 2025 and that adjusted EBIDTA margins had increased to 16.6% from 15.0% year-on-year.
The company said the “solid results” had followed a year of high activity in the UK and Taiwanese markets.
This included Seaway Alfa Lift completing the installation of transition pieces at SSE, Vargronn and Equinor’s 1.2GW Dogger Bank C and Seaway Ventus continuing to install foundations at ScottishPower Renewables’ 1.4GW East Anglia 3, both off east England.
Seaway Pheonix has continued to lay cables at Northland Power’s 1GW Hai Long off Taiwan while Seaway Aimery completed the cable scope at Orsted’s 700MW Revolution Wind array in US waters.