Baker Hughes closed the year 2025 with a solid performance marked by historic figures in orders and profitability, especially highlighting its Industrial and Energy Technology (IET) unit.
Record IET orders and sustained growth
During the fourth quarter, the company received orders for US$7.9 billion, of which US$4 billion was from its EIT business. This boosted the annual total to US$29.6 billion, with a record US$14.9 billion in technology bookings. The cumulative IET backlog reached $32.4 billion, reflecting a remarkable diversification beyond the LNG segment, with 85% of orders oriented to other areas.
Annual revenues remained stable at US$27.7 billion, whileattributable net income reached US$2.588 billion. Adjusted operating profit (EBITDA) totaled 4.825 billion dollars, 5% more than the previous year, evidencing efficiency in productivity and cost control. Free cash flow closed at US$2.732 billion, also a record figure.
Strategic contracts in global expansion
The company consolidated its leadership in gas compression and liquefaction with key awards in the U.S., such as contracts with NextDecade and Commonwealth LNG. In addition, it was selected by Glenfarne to equip projects in Alaska and signed relevant agreements in Kazakhstan and North America for power systems and data center infrastructure.
Baker Hughes enhanced its digital portfolio through its Cordant software, which was adopted by companies such as Yara, Braskem and Kunlun Digital for advanced asset management. In parallel, it signed long-term maintenance contracts with clients such as Cheniere and NextDecade, consolidating the reliability of its solutions.
OFSE moves forward with automated solutions
The Oilfield Services and Equipment (OFSE) segment added nearly $1 billion in production contracts in the Middle East, including agreements with Kuwait Oil Company and Petroleum Development Oman. In South America, it signed multiple awards in Argentina, while in Africa Eni entrusted Baker Hughes with the development of subsea infrastructure in Mozambique.
The company anticipates organic adjusted EBITDA growth in the mid-single digits by 2026, with expanded margins in IET and stability in OFSE. With a strategy focused on industrial solutions full-cycle industrial solutions, Baker Hughes seeks to solidify its transition to a more resilient and less cyclical energy model.
The vision for the so-called “Horizon Two” (2026-2028) includes a focus on power generation, automationautomation and digitalization of maintenance, as pillars to sustain long-term value.
Source: Baker Hughes
Photo: Shutterstock