Subsea 7 Hit by Offshore Wind

Engineering and construction specialist Subsea 7 has seen red in the fourth quarter 2019 on activity drop in renewables and heavy lift division.

The Oslo-listed firm posted quarterly loss of $129 million, or $45 cents per diluted share, on revenue of $889 million, versus profit of $32 million, or $12 cents per diluted share on revenue of approximately 1 billion same time last year.

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