Subsea 7 revises 2022 guidance
Luxembourg – 13 June 2022 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today updated its Adjusted EBITDA guidance for the full year 2022.
Seaway 7 ASA1 announced today provisions against the results of project execution of offshore windfarm installations due to increased costs relating to weather delays and mechanical breakdowns. This, together with an increase in the existing provision on the Formosa 2 project2, including the effects of Covid-19, will impact Subsea 7’s Adjusted EBITDA for 2022, which is still expected to be broadly in line with 2021.