Hunting PLC Reports Steady 2024 Performance with Strategic Progress

Hunting PLC released its 2024 year-end trading update, citing progress in its Hunting 2030 Strategy. Financial performance aligned with forecasts, with expected EBITDA ranging between $123-$126 million and revenues between $1.040-$1.050 billion, marking an EBITDA margin rise to approximately 12% from 11% in 2023.

The company saw strong cash generation in Q4, concluding the year with cash and bank positions estimated at $100-$105 million, surpassing earlier guidance. Despite volatility in Q4 market conditions, Hunting's order book ended 2024 robustly at approximately $500 million, signaling continued growth in 2025.

2025 anticipates continued growth, with EBITDA projected at $135-$145 million, driven by its solid order book and cost-saving initiatives. The company remains engaged in potential acquisitions and tends to expand within subsea opportunities. Initiatives like restructuring in EMEA aim to save around $10 million in costs annually.