Hunting PLC posted a 7 % jump in year‑on‑year EBITDA to roughly $135 million for 2025, lifting its margin to 13 % from 12 %. The precision‑engineering group closed the year with a $350 million sales‑order book, anchored by large contracts from Kuwait Oil Company and Exxon. A tender pipeline above $1 billion, including about $300 million in subsea work, signals steady demand.

Cash sits near $60 million after paying dividends and completing a $138 million share‑buyback, of which $33.5 million has been repurchased. Jim Johnson said the company will finish the remaining $26.5 million of its $60 million buyback in early 2026. For 2026, Hunting forecasts EBITDA of $145‑155 million, with capex of $40‑50 million and free cash flow around half of EBITDA. The firm has lifted its 2030 Subsea Technologies revenue target from $250 million to $470 million, aiming for $230 million and $50 million EBITDA by 2028, a 26 % share of group earnings.

Johnson highlighted the successful integration of Flexible Engineered Solutions and Organic Oil Recovery, while divesting Rival Downhole Tools. The shift toward subsea reflects the broader energy transition and positions the company for long‑term growth.