Fabrication firm Seatrium reported a significant increase in net profit for the first half of 2025, driven by strong performance in its offshore wind division.
The Singapore-based company posted a group-wide net profit of $144 million, up from $36 million in the same period last year. This growth was partly fueled by the offshore wind segment, where revenue more than doubled to $1.1 billion from $545 million.
Seatrium attributed the rise in offshore wind revenue to its work on 2GW high-voltage direct current (HVDC) platforms for the Dutch-German transmission system operator, TenneT. Offshore wind accounted for 21% of the company’s total revenues in the first half of the year.
The company is currently delivering offshore substations for Orsted’s Changhua 2b&4 projects in Taiwan and RWE’s Sofia wind farm in the UK, both scheduled for completion this year. Seatrium is also on track to supply platforms for Orsted’s Revolution Wind and Equinor’s Empire Wind projects in the United States next year, along with Maersk Offshore Wind’s Sturgeon turbine installation vessel.
A Seatrium spokesperson said, “Our offshore wind division continues to be a key growth driver, supported by ongoing projects across multiple international markets.”
The company’s strong half-year performance highlights its expanding footprint in the renewable energy sector, particularly offshore wind infrastructure.
