Investors & Shareholder Information

Our financial results are testament to our track record of performance and underscore our potential. We deliver the solid and stable performance needed for long-term growth. Meanwhile, we are furthering our strategy to diversify as we increase our backlog of existing ocean infrastructure.

Why invest in SBM Offshore?

Our ambition for 2025 is to grow in size and value, increasing our value to clients, whilst at the same time investing in new technology and attracting the best resources and partners in the industry.

“Our great teams continue to deliver strong performance, and we ended the period with a record backlog of US$33.7 billion.”
Half Year 2024 Earnings

Øivind Tangen
Chief Executive Officer

 

Latest Disclosures

Half Year 2024 Earnings

  • 2024 Directional[i] EBITDA guidance increased from around US$1.2 billion to around US$1.3 billion
  • 2024 Directional revenue guidance increased from around US$3.5 billion to above US$3.8 billion
  • US$3.4 billion net increase of pro-forma Directional backlog to record-level US$33.7 billion
  • EUR65 million (US$71 million equiv.[ii]) additional share repurchase
  • Existing share repurchase program of EUR65 million on track, c. 58% completed[iii]
  • Award of 20-year lease & operate contract for an FSO to support the Trion field development in Mexico
  • Rationalization of business in Angola to focus on Lease and Operate
  • Ninth Fast4Ward® Multi-Purpose Floater (“MPF”) hull ordered

First Quarter 2024 Trading Update

  • Year-to-date Directional[i] revenue of US$871 million, in line with expectation
  • Full year 2024 Directional revenue and Directional EBITDA guidance maintained
  • Cash dividend of US$150 million (equivalent to EUR0.7651 per ordinary share) approved
  • Share repurchase program of EUR65 million on track 20.7% completed[ii]
  • FPSO Sepetiba producing and on hire; FPSO Prosperity at full production capacity
  • FPSO Jaguar contract award confirmed in April 2024, growing the backlog
  • MoU with Technip Energies to create Floating Offshore Wind JV, EkWiL

Full Year 2023 Earnings

SBM Offshore Full Year 2023 Earnings

Highlights

  • Record-level Directional[i] Revenue of US$4.5 billion (+38%), above guidance
  • Record-level Directional EBITDA of US$1.3 billion (+31%), in line with guidance
  • US$30.3 billion Directional backlog; US$9.3 billion or EUR46.6/share[ii] Directional net cash from L&O and BOT[iii] backlog[iv]
  • Evolving shareholder return policy: flexibility to pay committed annual cash return via dividend and share repurchase
  • 12% increase in annual cash return to shareholders of US$220 million
  • Cash return composed of US$150 million proposed dividend and EUR65 million (US$70 million equiv.[v]) share repurchase
  • 2024 Directional Revenue guidance of around US$3.5 billion
  • 2024 Directional EBITDA guidance of around US$1.2 billion
  • Successful sale of FPSO Liza Unity, Whiptail FEED award, 10-year OMEA for Guyana FPSO fleet, and FPSOs Prosperity & Sepetiba 1st oil
  • 70% FPSO COemissions reduction potential from CO2 capture solution offered in partnership with MHI

Third Quarter 2023 Trading Update

Third Quarter 2023 Trading Update

Highlights

  • FEED contracts awarded by ExxonMobil Guyana for Whiptail development project in Guyana
  • FPSO Liza Unity purchase option exercised by ExxonMobil Guyana; sale to be completed in November 2023
  • 2023 Directional[i] EBITDA guidance increased from above US$1 billion to around US$1.3 billion
  • 2023 Directional revenue guidance increased from above US$2.9 billion to around US$4.4 billion
  • FPSO Prosperity, delivered on time in Guyana and preparing for first oil
  • Successful installation of 3 floaters for the Provence Grand Large offshore wind project

Half Year 2023 Earnings

Highlights

  • Record-level US$32.2 billion pro-forma order book
  • Record-level US$9.5 billion pro-forma net cash flow from L&O and BOT[i] sales backlog[ii]
  • 2023 Directional[iii] revenue and EBITDA guidance maintained
  • 2 FPSOs on track for first oil by year-end
  • Over US$3.2 billion project financing secured

 

First Quarter 2023 Trading Update

First Quarter 2023 Trading Update

Highlights

  • Year-to-date Directional revenue of US$742 million, in line with expectation
  • Full year 2023 revenue and EBITDA guidance on track
  • ~US$3 billion revenue backlog increase following 10-year Operations and Maintenance Enabling Agreement signed with ExxonMobil Guyana
  • 8th Fast4Ward® Multi-Purpose Floater (MPF) hull ordered
  • Cash dividend of US$1.10 per ordinary share approved, 10% year-on-year increase and representing c. 7% yield

Full Year 2022 Earnings

Full Year 2022 Earnings

Highlights

  • Record 2022 Directional[1] underlying EBITDA of US$1,010 million, in line with guidance
  • Record year-end Backlog of US$30.5 billion
  • 10% increase in dividend proposed to US$1.10 per share, 7% yield[2]
  • 2023 Directional revenue guidance of above US$2.9 billion
  • 2023 Directional EBITDA guidance of above US$1 billion
  • FPSO ONE GUYANA award, MoU for 7th MPF[3] hull with ExxonMobil Guyana
  • Defining 2030 intermediate greenhouse gas (GHG) related targets, creating pathway to net-zero by 2050

Upcoming Events

Third Quarter 2024 Trading Update

Full Year 2024 Earnings

Annual General Meeting

First Quarter 2025 Trading Update

Half Year 2025 Earnings