BAKU, Azerbaijan, April 26. TechnipFMC's Subsea division reported first-quarter 2025 revenue of $1.94 billion, marking a 5.5 percent decrease compared to the previous quarter, Trend reports.
According to the producer, the drop in revenue was primarily attributed to lower activity in Africa, the North Sea, and the Gulf of Mexico, as well as seasonal reductions in offshore services. These declines were somewhat offset by stronger project activity in Asia Pacific and Brazil.
Despite the revenue decrease, Subsea’s operating profit rose to $247.9 million, up 7.8 percent from the fourth quarter of 2024. This improvement was driven by a $12.6 million reduction in restructuring, impairment, and other charges, as well as robust project execution and an improved earnings mix from the division’s backlog. Operating profit margin increased by 160 basis points to 12.8 percent, highlighting the division's strong operational performance.
Adjusted EBITDA for the Subsea division reached $334.9 million, a slight 1.1 percent decrease from the previous quarter. The decline in adjusted EBITDA was largely due to the lower services activity and reduced fleet availability, which were caused by higher scheduled maintenance during the period. However, the impact was largely mitigated by the continued success in project execution. The division’s adjusted EBITDA margin improved by 80 basis points to 17.3 percent.
