First quarter highlights
- First quarter Adjusted EBITDA of $107 million resulting in a margin of 9%
- Order flow remains strong, with a book-to-bill of 1.5x
- Backlog of $9.7 billion at 31 March 2023, of which $4.0 billion to be executed in 2023 and $3.4 billion in 2024
- High tendering activity with continued momentum in pricing
- Recent awards and ongoing bids underpin management’s confidence in the outlook, including a return of Adjusted
EBITDA margins to a range of 15-20% over the coming four years - Offer for Seaway7 progressing towards delisting of Seaway 7 ASA from Euronext Growth in early May 2023
The full SubSea 7 financial results can be found at the following link: Q1 2023 Results Subsea7
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