Core Viewpoint - Subsea 7 S.A. announced a proposed total cash dividend of NOK 13.00 per share, amounting to approximately $400 million, to be distributed in May 2026 [1]. Dividend Details - The proposed dividend consists of an annual dividend of approximately $350 million to be recommended at the annual general meeting (AGM) on 12 May 2026 and an interim dividend of approximately $50 million approved by the Board [1][5]. - Key dates include the last day including right on 19 May 2026 for common shareholders and 20 May 2026 for ADR holders, with the ex-date on 20 May 2026 for common shareholders and 21 May 2026 for ADR holders [5]. - The record date is set for 21 May 2026, and the payment date is scheduled for 28 May 2026 [5].

February 24, 2026 Fourth Quarter 2025 Earnings Conference Call Forward-Looking Statements This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, an ...

Core Insights - Helix Energy Solutions Group reported a net income of $8.3 million for Q4 2025, a decrease from $22.1 million in Q3 2025 and $20.1 million in Q4 2024, impacted by an $18.1 million non-cash impairment charge [1][2] - For the full year 2025, net income was $30.8 million, down from $55.6 million in 2024, with Adjusted EBITDA at $272 million compared to $303.1 million in the previous year [2][28] - The company generated $120 million in Free Cash Flow for 2025, with a cash balance of $445 million at year-end, providing significant financial flexibility [2][20] Financial Performance - Q4 2025 revenues were $334.2 million, down from $355.1 million in Q3 2025 and $377.0 million in Q4 2024 [2][35] - Gross profit for Q4 2025 was $50.7 million, compared to $58.9 million in Q3 2025 and $66.0 million in Q4 2024 [2][35] - Selling, general and administrative expenses increased to $20.3 million in Q4 2025 from $18.2 million in Q3 2025, but decreased from $27.6 million in Q4 2024 [15][35] Segment Performance - Well Intervention revenues decreased by $12.2 million, or 6%, in Q4 2025 compared to Q3 2025, primarily due to lower utilization of certain vessels [6][7] - Robotics revenues decreased by $12.1 million, or 12%, in Q4 2025 compared to Q3 2025, attributed to seasonal slowdowns in North Sea operations [8][9] - Shallow Water Abandonment revenues decreased by $17.1 million, or 23%, in Q4 2025 compared to Q3 2025, due to lower utilization during the seasonal slowdown [10][11] Cash Flow and Capital Expenditures - Operating cash flows for Q4 2025 were $113.2 million, significantly higher than $24.3 million in Q3 2025 and $78.0 million in Q4 2024 [18][27] - Capital expenditures totaled $5.7 million in Q4 2025, up from $1.7 million in Q3 2025 but down from $12.5 million in Q4 2024 [19][28] - Free Cash Flow for Q4 2025 was $107.5 million, compared to $22.6 million in Q3 2025 and $65.5 million in Q4 2024 [20][28] Financial Condition - As of December 31, 2025, cash and cash equivalents were $445.2 million, with total liquidity of $553.6 million [29] - The company reported negative Net Debt of $137.2 million, indicating a strong liquidity position [29]

Company Overview - Helix Energy Solutions Group is a leading offshore energy services provider with a global footprint and a diversified suite of subsea capabilities [6] - The company leverages advanced robotics and intervention technologies to support the full lifecycle of offshore oil and gas assets [6] - It generates revenue by providing specialized engineering, maintenance, and decommissioning services to the offshore energy sector [9] Financial Performance - Revenue for the trailing twelve months (TTM) is $1.31 billion, with a net income of $42.68 million [4] - As of February 13, 2026, the share price is $8.60, reflecting a one-year price change of 5.3% [4][8] - In the third quarter, revenue reached approximately $377 million, with adjusted EBITDA of roughly $104 million, marking the strongest quarterly EBITDA since 2014 [11] Recent Transactions - Gate City Capital Management sold 575,000 shares of Helix Energy Solutions Group during the fourth quarter of 2025, valued at an estimated $3.82 million [2] - Following the sale, HLX represents 5.08% of Gate City Capital Management's 13F assets under management (AUM) [8] - The fund's quarter-end HLX position decreased in value by $4.31 million, closing the period with 1,872,195 shares [2] Market Position and Strategy - Helix Energy Solutions Group offers a range of services including offshore well intervention, robotics, and production facility services [9] - The company serves independent oil and gas producers, pipeline transmission companies, renewable energy firms, and offshore engineering and construction companies globally [9] - Despite the sale of shares, Helix still represents a meaningful but not dominant bet within a portfolio focused on commodity and industrial exposures [10] Operational Insights - The business appears operationally healthier than the stock price suggests, with a strong cash position of $338 million and negative net debt as of September [11] - However, nine-month EBITDA remains below last year's level, and the offshore markets are still uneven [12] - Long-term growth potential hinges on whether robotics growth and well intervention utilization can offset oil price volatility [12]

Core Viewpoint - Subsea 7 S.A. has been awarded a significant contract by Shell for the Kaikias Waterflood project, enhancing their collaboration and leveraging deepwater expertise for efficient project execution [1][3]. Group 1: Contract Details - The contract is classified as "sizeable," defined by Subsea 7 as being between $50 million and $150 million [3]. - The Kaikias field is located approximately 210 kilometers off the Louisiana coast in the US, involving deepwater development in the Mars-Ursa Basin [1]. - The scope of work includes the transportation and installation of a subsea umbilical, riser, and a rigid flowline at water depths of up to 1,650 meters [1]. Group 2: Project Timeline - Project management and engineering activities will commence immediately from Subsea 7's Houston, Texas office [2]. - Offshore operations are scheduled to begin in 2027 [2]. Group 3: Company Positioning - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value and being a preferred partner in the energy industry [4].

Core Insights - Subsea 7 S.A. has been awarded a significant contract by Shell for the Kaikias Waterflood project, which is a deepwater development located approximately 210 kilometers off the Louisiana coast in the US [1][3] - The contract involves the transportation and installation of subsea infrastructure, including umbilicals, risers, and rigid flowlines, at depths of up to 1,650 meters [1][3] - The project management and engineering activities will commence immediately from Subsea 7's Houston office, with offshore operations planned for 2027 [2] Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value within the energy industry [4] - The company emphasizes its role as a preferred partner and employer in providing efficient offshore solutions [4] Financial Details - Subsea 7 classifies a sizeable contract as one valued between $50 million and $150 million [3]

Group 1 - Helix Energy Solutions Group, Inc. (NYSE:HLX) experienced a share price decline of 5.11% from December 17 to December 24, 2025, ranking among the energy stocks that lost the most during that week [1] - The company announced the retirement of its long-standing President and CEO, Owen Kratz, who has been with the company since 1984 and CEO since 1997, with plans for a smooth leadership transition [3] - Helix Energy Solutions secured a multi-year contract for riserless plug-and-abandonment operations on up to 34 subsea wells in the UK North Sea, highlighting its position as a leading decommissioning provider [4] Group 2 - The contract work is set to begin next year and will involve pipeline flushing, disconnection, and well plug-and-abandonment, showcasing the company's operational capabilities [4] - The Executive Vice President and COO, Scotty Sparks, emphasized the importance of this contract in demonstrating Helix's integrated assets and operational track record in the decommissioning sector [4]

Core Viewpoint - Subsea 7 S.A. has been awarded a significant contract by LLOG Exploration Offshore L.L.C. for the Buckskin South Expansion project, which is located approximately 305 kilometers off the Texas coast, involving subsea umbilical and flowline installation in depths of up to 2,100 meters [1][2]. Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value and being a preferred partner in the energy industry [3]. Project Details - The project management and engineering activities for the Buckskin South Expansion will commence immediately from Subsea 7's Houston office, with offshore operations planned for 2026 and 2027 [2]. - The contract is classified as "sizeable," defined by Subsea 7 as being between $50 million and $150 million [2].

Core Viewpoint - Subsea 7 S.A. has been awarded a significant contract by LLOG Exploration Offshore L.L.C. for the Buckskin South Expansion project, which is located approximately 305 kilometers off the Texas coast, involving subsea umbilical and flowline installation at depths of up to 2,100 meters [1][2]. Group 1: Contract Details - The contract involves the transportation and installation of subsea infrastructure for the Buckskin South Expansion project [1]. - Project management and engineering activities will commence immediately from Subsea 7's Houston office, with offshore operations planned for 2026 and 2027 [2]. Group 2: Company Positioning - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value and being a preferred partner in the energy industry [2]. - The company aims to enhance value from US developments, building on previous successes such as the Salamanca project, which recently achieved first oil [2].

Core Insights - Subsea 7 S.A. has been awarded a significant contract for pre-commitment to procure long lead items for a project in the Norwegian North Sea, with project management and engineering work set to begin immediately in Stavanger, Norway [1][2] Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services within the energy sector, focusing on creating sustainable value and being a preferred partner and employer in the industry [2] Contract Details - The early commitment to long lead items indicates a strong, trust-based relationship with the operator, facilitating early engagement and fast-tracked development [2]