Subsea 7 S.A. has announced its results for the fourth quarter and full year which ended 31 December 2016.
Full Year 2016 highlights: Adjusted EBITDA percentage margin increased to 32% for the full year 2016, driven by cost discipline, operational performance and successful project completions ; Delivered new-build vessels and invested in technological innovation to strengthen Subsea 7’s market-leading position; Subsea Integration Alliance, Subsea 7’s alliance with OneSubsea, awarded the Dalmatian field project in the US Gulf of Mexico, its first EPIC project; Net cash of $1,249 million at 31 December 2016, with $1,046 million cash generated from operations in 2016; Special dividend of NOK 5.00 per share to be recommended to shareholders, reflecting excellent operating performance and resulting strong financial and liquidity position