Subsea 7 - Earnings Release 2019 | FinancialReports.eu

Subsea 7 S.A. Announces First Quarter 2019 Results

Luxembourg - 2 May 2019 - Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR:

SUBCY, ISIN: LU0075646355) announced today results for the first quarter which

ended 31 March 2019.

First Quarter highlights

* New awards and escalations totalled $1.1 billion, raising order backlog to

$5.2 billion

* Revenue of $859 million and Adjusted EBITDA of $111 million reflecting

continued cost discipline and good execution of awards signed at lower

prices during the downturn

* Invested for the future with capital expenditure totalling $68 million

including an extensive dry-docking of the pipelay vessel Seven Borealis and

acquisition of diving support vessel (DSV), Seven Pegasus

* ?Net cash position of $413 million, excluding IFRS 16 lease liabilities,

after $75 million spent on share repurchases in the first quarter

For further information, including the results press release, presentation and

conference call dial in details please visit our website at www.subsea7.com or

contact:

Isabel Green

Investor Relations

Subsea 7 S.A.

T: +44 (0) 20 8210 5568

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