Welcome to our dedicated page for Sbm Offshore news (Ticker: SBFFY), a resource for investors and traders seeking the latest updates and insights on Sbm Offshore stock.
SBM Offshore N.V. (SBFFY) is described by the company as the world’s deepwater ocean‑infrastructure expert, focused on the design, construction, installation, and operation of offshore floating facilities for energy production. The news flow around SBM Offshore reflects both its operational activities in deepwater offshore environments and its capital management decisions.
Recent press releases provide detailed weekly updates on a EUR 141,189,019 share repurchase program. These updates summarize cumulative repurchase amounts, quantities repurchased, average repurchase prices, and the percentage of the program completed. They also specify that shares are being repurchased via Euronext Amsterdam, CBOE DXE and/or Turquoise. For investors, these disclosures offer insight into how SBM Offshore manages its share capital and supports management and employee share programs.
Operationally focused news includes announcements such as the contract extension for the lease and operation of FPSOs Mondo and Saxi Batuque with Esso Exploration Angola (Block 15) Limited, an affiliate of ExxonMobil. SBM Offshore notes that this extension secures ownership and operations until 2032 and involves life‑extension activities for equipment replacement and refurbishment, highlighting its capabilities in deepwater asset operation and complex offshore brownfield work.
Another example is the confirmation of the completion of a Share Purchase Agreement with GEPetrol for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng. The company links this transaction to its strategy to rationalize its Lease & Operate portfolio. Together, these items show that SBM Offshore’s news typically covers share repurchase activity, portfolio adjustments in leased and operated offshore units, and long‑term contracts for deepwater floating production systems.
Investors and observers can use the SBFFY news feed to follow these developments, track the progress of the share repurchase program, and monitor how SBM Offshore describes its role in the energy transition and blue economy through its public announcements.
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SBM Offshore has successfully conducted its Annual General Meeting on April 13, 2023, with all resolutions adopted. Key outcomes include the appointment of Allard Castelein to the Supervisory Board and shareholder approval for a cash dividend of US$1.10 per ordinary share. The dividend will be disbursed in Euros at a conversion rate of 1.1045, amounting to €0.9959 per ordinary share, payable on May 11, 2023, to shareholders recorded by April 18, 2023. ABN AMRO will manage the dividend payment and offers a Dividend Reinvestment Plan (DRIP) for shareholders who wish to reinvest their dividends into company shares. For more details, visit SBM Offshore's website.
SBM Offshore has successfully secured project financing of US$1.63 billion for the FPSO Almirante Tamandaré, aided by a consortium of 13 international banks and covered by 4 Export Credit Agencies (ECA). The financing encompasses five facilities with a weighted average cost of debt around 6.3% and a maturity period of 14 years post-completion. The FPSO, designed with SBM Offshore’s Fast4Ward® hull, will be Brazil's largest oil-producing unit, boasting a capacity of 225,000 barrels of oil and 12 million m³ of gas per day. It will operate under a 26.25-year contract with Petrobras at the Búzios field.
SBM Offshore has published the agenda and invitation for its Annual General Meeting (AGM), scheduled for April 13, 2023, at 14:30 Central European Time, at IntercityHotel Amsterdam Airport, Netherlands. The company specializes in offshore energy solutions, focusing on reducing emissions and advancing renewable energy. SBM Offshore employs over 7,000 professionals committed to sustainable energy practices. Key upcoming dates include a First Quarter 2023 Trading Update on May 11 and Half Year 2023 Earnings on August 10. For more information, visit www.sbmoffshore.com.
SBM Offshore announced the nomination of Allard Castelein to join its Supervisory Board during the upcoming Annual General Meeting on April 13, 2023. Castelein, notably the President and CEO of the Port of Rotterdam since 2014, will be transitioning from his current role in the summer. His extensive experience includes over 26 years at Shell, culminating as Vice President of Environment. This strategic board appointment aims to enhance leadership and drive the company’s ongoing commitment to the offshore energy industry’s transition towards more sustainable solutions.
SBM Offshore reported a record 2022 EBITDA of US$1,010 million, aligned with guidance, and a year-end backlog of US$30.5 billion. Proposed dividends increased by 10% to US$1.10 per share, offering a 7% yield. The company’s 2023 revenue guidance exceeds US$2.9 billion, with EBITDA guidance also above US$1 billion. Challenges remain due to COVID-19 and the Ukraine conflict affecting operations and costs. Notably, the FPSO Cidade de Anchieta resumed production, but an impairment of US$92 million was recorded. The company aims for 50% reduction in emissions intensity by 2030.
The FPSO Cidade de Anchieta has resumed production after successful inspection, repair, and certification of 4 tanks, compliant with client and local authority approvals. Repair work on remaining tanks is set to continue until the end of 2023. SBM Offshore is committed to enhancing energy transition through innovative solutions in the offshore energy sector. The company employs over 5,000 professionals globally, dedicated to delivering sustainable energy. Upcoming financial disclosures include Full Year 2022 Earnings on February 23, 2023, and an Annual General Meeting on April 13, 2023.
On November 10, 2022, SBM Offshore reported a strong financial performance despite macroeconomic challenges. The company increased its 2022 EBITDA guidance to around US$1 billion and revenue guidance to above US$3.2 billion. Key highlights include a Memorandum of Understanding with ExxonMobil for a new hull. Year-to-date, the company achieved a 46% increase in underlying revenue, totaling US$2,522 million. Fleet uptime was reported at 99.6%, excluding one unit currently under repair. Despite challenges, SBM Offshore remains focused on its energy transition strategy and project development.
SBM Offshore announced significant updates on August 4, 2022, including an increased 2022 Directional EBITDA guidance from $900 million to over $950 million and revenue guidance raised from $3.1 billion to approximately $3.2 billion. The pro-forma order book reached a record $31.1 billion, ensuring strong cash flow visibility until 2050. The company continues to focus on sustainability, targeting net-zero emissions by 2050, with interim goals set for 2030. Despite challenges from global supply chains and the pandemic, profitability remains robust, with a 64% revenue increase in 1H 2022.