HMH Holding reports mixed Q2 results, explores M&A

HMH Holding B.V. reported Q2 2025 revenues of $203 million, with adjusted EBITDA at $36 million, reflecting a 17.7% margin.

Aftermarket Services rose 6% year-over-year to $92 million, while Spares decreased 26% to $52 million due to lower pressure control spares volumes. Projects, Products & Other increased 17% to $59 million.

The company is exploring M&A opportunities, particularly in land capabilities and non-oil and gas businesses. HMH also listed its bond on the Oslo Stock Exchange in June 2025.