Seatrium reported a net profit of 144 million Singapore dollars for the first six months of 2025, compared with 36 million Singapore dollars in the same period of 2024. Revenue increased by 34 percent to 5.4 billion Singapore dollars, while gross margin improved to 7.4 percent from 3.7 percent.
Earnings before interest, tax, depreciation and amortisation rose to 407 million Singapore dollars from 311 million Singapore dollars.
At the end of June 2025 the company’s net order book stood at 18.6 billion Singapore dollars, with 6.3 billion Singapore dollars related to renewables and cleaner energy solutions.
In offshore wind, steel was cut for IJmuiden Ver Gamma, the second of three 2 GW offshore converter platforms for TenneT. For Revolution Wind the first of two offshore substation topsides has been commissioned offshore, and for Empire Wind onshore commissioning of an offshore substation topside is in progress. Three offshore wind projects are scheduled for delivery this year: the Sofia offshore converter platform for RWE Renewables, the Greater Changhua 2b and 4 offshore substation for Ørsted, and the wind turbine installation vessel Charybdis for Dominion Energy.
Seatrium noted that offshore wind remains in demand in Europe and the Asia Pacific region, with ongoing engagement with transmission system operators and commercial developers.
