Subsea7 reported higher adjusted EBITDA from its renewables business in 2025, supported by strong project activity in the UK and Taiwan, although revenues were unchanged from the previous year.
The company said renewables adjusted EBITDA rose to $202 million in the 2025 financial year from $185 million in 2024. Revenues in the segment were flat at $1.2 billion.
Net operating income margin from renewables stood at 6.2% in 2025, while adjusted EBITDA margin increased to 16.6% from 15.0% a year earlier.
Subsea7 said the “solid results” followed a year of high activity in key offshore wind markets.
Installation vessel Seaway Alfa Lift completed transition piece installation at the 1.2GW Dogger Bank C project, developed by SSE, Vargronn and Equinor, while Seaway Ventus continued foundation installation works at East Anglia 3, owned by ScottishPower Renewables.
In Taiwan, Seaway Phoenix continued cable-laying operations at the 1GW Hai Long offshore wind project for Northland Power.
In the United States, Seaway Aimery completed the cable installation scope at the 700MW Revolution Wind project being developed by Ørsted.
The company did not provide detailed forward guidance for the renewables segment in its statement.
