OSLO Aug 9 Norwegian offshore engineering group
Subsea 7 beat market expectations with a 6.2 percent
rise in core earnings on Thursday and said it expected its
full-year core earnings in line with the consensus.
Subsea 7 said its second-quarter adjusted earning before
interest, tax, depreciation and amortisation (EBITDA) rose to
$326 million, beating market expectations for $294 million in a
"Our positive views on the market have not changed as we
have not seen an impact from oil price volatility or
macro-economic uncertainties on our clients' plans," Chief
Executive Jean Cahuzac said.
"We still expect the present high level of bidding activity
to translate into market awards later this year, in particular
in the North Sea, Africa and Brazil," Cahuzac added.
Markets currently expect a full-year adjusted EBITDA of
(Reporting By Balazs Koranyi)