DeepOcean reports record Q2 revenue with strong order intake
Second quarter revenue reached USD 376.5 million. Order backlog rose to USD 1.5 billion following the Shelf Subsea integration.
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Integrated ocean services provider
deepoceangroup.comLast updated
In short: DeepOcean posted record revenues, expanded offshore wind and subsea contracts, and weighed Haugesund job cuts.
Second quarter revenue reached USD 376.5 million. Order backlog rose to USD 1.5 billion following the Shelf Subsea integration.
Adjusted EBITDA reached $23.7 million with robust order intake of $442 million. New segments and acquisitions drive growth.
Revenue increased 11.2% year over year to USD 288.1 million, while the order backlog reached USD 1.17 billion.
The notes carry 6.00% interest and mature in 2031. Closing is expected on October 8, 2025. Proceeds will fund general corporate purposes.
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