THREE60 Energy, a global lifecycle solutions company delivering engineering, operations and systems across the oil and gas, decommissioning, new energy and defence and industrial sectors, has announced another strong financial performance for the year ending December 31 2025.
The group grew revenue to £189.4million, while delivering significant improvements in profitability. Adjusted EBITDA increased by 30% year-on-year to £14.7million, with operating profit rising by 35%, reflecting continued growth across the business and the benefits of THREE60’s increasingly diversified and integrated service offering.
2025 Financial Highlights
- Revenue: £189.4 million (2024: £181.7 million)
- Adjusted EBITDA: £14.7 million – 30% year-on-year increase (2024: £11.3 million)
- Operating Profit: £3.56 million – 35% year-on-year increase (2024: £2.6 million)
- Backlog: £379 million – a 27% year-on-year increased (2024: £299 million)
The results build on THREE60’s strong performance in recent years and demonstrate continued progress in developing a resilient, diversified business with an expanding international footprint. Throughout 2025, THREE60 continued to strengthen its position across its core markets, securing significant new contracts and expanding existing customer relationships across oil and gas, decommissioning, new energies and defence and industrial.
Strategic highlights
- Established joint venture with AF Offshore Decom to deliver a first of its kind integrated end to end decommissioning project in the UKCS
- Successfully transitioned Installation and Pipeline Operator for three North Sea assets, establishing a major long-term decommissioning programme
- Formation of several strategic alliances and joint ventures to expand capabilities and market reach in key growth areas
- Opened a new Teesside office, accelerating diversification into new energy and industrial sectors
- Continued industrial diversification with 30% of revenue coming from Defence & Industrials projects
- Strengthened the wider leadership team to accelerate regional growth
Walter Thain, CEO of THREE60 Energy, commented: “2025 was another strong year for THREE60 and our results demonstrate the continued progress we are making as a business. Our strategy has always been centred around creating a differentiated, integrated business with the breadth of capability to support our customers across the complete asset lifecycle. We are now seeing the benefits of that approach through deeper customer relationships, an increasingly diversified portfolio and continued opportunities for growth across our international markets.
“Most importantly, our results are testament to the commitment and expertise of our people. Their continued focus on delivering safe, high-quality solutions for our customers is what drives the success of THREE60.”
The Group’s performance also reflects continued progress in diversifying both geographically and across its target sectors, while maintaining a strong position within its established oil and gas markets.
Kerrie Murray, CFO of THREE60 Energy, added: “Our 2025 results demonstrate another positive step forward. Growing Adjusted EBITDA by 30% alongside a 35% increase in operating profit demonstrates that we are not simply growing the scale of the business but improving the quality and profitability of that growth.
“We have continued to invest strategically in the capabilities, people and the geographic presence required to support our long-term ambitions, while maintaining a disciplined approach to sustainable growth. We enter the next phase of THREE60’s development from a strong position, with a diversified business, established international footprint and significant opportunities across our key markets.”
The results come as THREE60 marks its 10th anniversary in 2026, having grown from its formation in 2016 into an international business employing around 1,200 people and supporting customers across the UK, Norway, Southeast Asia, the Middle East and the Americas.
With continued demand across its core markets and a growing portfolio of integrated capabilities, THREE60 remains focused on delivering sustainable, profitable growth while supporting customers across the full asset lifecycle.