Subsea 7 (OSL: SUBC) financial statements
The consolidated income statement, balance sheet and cash flow statement of Subsea 7 for its last 6 fiscal years, as filed with the regulator, in millions of Norwegian kroner. At the end of fiscal 2025 it had NOK 3,606m in total assets and NOK 1,218m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | NOK 2,675m | NOK 2,717m | NOK 1,967m | NOK 1,162m | NOK 673.3m | NOK 618.9m |
| Operating profit | NOK 149.4m | NOK 363.8m | NOK 331.8m | NOK 105.3m | NOK 79.1m | NOK 51.3m |
| Profit before tax | NOK 81.0m | NOK 230.0m | NOK 289.5m | NOK 98.0m | NOK 73.0m | NOK 43.1m |
| Income tax | −NOK 27.1m | NOK 24.6m | NOK 63.7m | NOK 25.8m | −NOK 20.8m | NOK 0.0m |
| Net profit | NOK 108.1m | NOK 205.4m | NOK 225.8m | NOK 72.2m | NOK 93.8m | NOK 43.1m |
| Earnings per share | NOK 0.34 | NOK 0.78 | NOK 0.89 | NOK 35.00 | NOK 0.65 | NOK 0.31 |
| Diluted earnings per share | NOK 0.33 | NOK 0.68 | NOK 0.88 | NOK 34.00 | NOK 0.65 | NOK 0.31 |
| Depreciation and amortisation | NOK 970.5m | NOK 806.1m | NOK 623.0m | NOK 353.5m | NOK 239.8m | NOK 208.4m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Total assets | NOK 3,606m | NOK 3,248m | NOK 2,688m | NOK 952.1m | NOK 746.5m | NOK 363.0m |
| Current assets | NOK 1,248m | NOK 1,013m | NOK 820.9m | NOK 504.1m | NOK 353.9m | NOK 242.0m |
| Property, plant and equipment | NOK 562.5m | NOK 298.6m | NOK 183.3m | NOK 85.0m | NOK 73.8m | NOK 76.6m |
| Goodwill | NOK 117.9m | NOK 109.6m | NOK 109.6m | NOK 86.7m | NOK 0.0m | — |
| Cash | NOK 514.2m | NOK 278.0m | NOK 436.4m | NOK 191.6m | NOK 149.0m | NOK 105.4m |
| Current liabilities | NOK 1,407m | NOK 1,413m | NOK 886.0m | NOK 363.4m | NOK 340.1m | NOK 140.1m |
| Equity | NOK 1,218m | NOK 1,092m | NOK 928.0m | NOK 579.4m | NOK 286.8m | NOK 210.2m |
| Equity including minorities | NOK 1,218m | NOK 1,092m | NOK 928.0m | NOK 579.4m | NOK 286.8m | NOK 210.2m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | NOK 1,191m | NOK 867.5m | NOK 952.7m | NOK 466.3m | NOK 279.2m | NOK 268.7m |
| Investing cash flow | −NOK 531.5m | −NOK 297.1m | −NOK 208.4m | −NOK 204.7m | NOK 7.0m | −NOK 2.1m |
| Financing cash flow | −NOK 407.3m | −NOK 746.7m | −NOK 487.8m | −NOK 214.5m | −NOK 245.1m | −NOK 200.2m |
| Capital expenditure | NOK 372.5m | NOK 262.8m | NOK 202.7m | NOK 167.8m | NOK 1.6m | NOK 2.1m |
| Dividends paid | NOK 137.5m | NOK 97.8m | NOK 46.0m | NOK 40.5m | NOK 21.5m | NOK 0.0m |
Where each figure comes from
From the annual report Subsea 7 files every year in the European single electronic format (ESEF). The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Subsea 7 page.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.