Announcement • Apr 17
SBM Offshore N.V., Annual General Meeting, Apr 07, 2027 SBM Offshore N.V., Annual General Meeting, Apr 07, 2027. Announcement • Nov 13
SBM Offshore N.V. Maintains Earnings Guidance for the Full Year of 2025 SBM Offshore N.V. maintained earnings guidance for the full year of 2025. For the year, the company announces directional revenue guidance is unchanged at above USD 5.0 billion of which around USD 2.3 billion (from above USD 2.2 billion) is expected from the Lease and Operate segment and around USD 2.8 billion (maintained) from the Turnkey segment. Announcement • May 15
Sbsbm Offshore N.V. Maintains Earnings Guidance for the Year 2025 SBM Offshore N.V. maintained earnings guidance for the year 2025. The company’s 2025 Directional revenue guidance is maintained at above USD 4.9 billion of which above USD 2.2 billion is expected from the Lease and Operate segment and around USD 2.7 billion from the Turnkey segment. Announcement • Apr 11
SBM Offshore N.V., Annual General Meeting, Apr 15, 2026 SBM Offshore N.V., Annual General Meeting, Apr 15, 2026. Announcement • Apr 10
SBM Offshore N.V. Approves Dividend, Payable on May 6, 2025 SBM Offshore N.V. at its AGM of April 9, 2025 adopted and shareholders also voted in favor of the proposed cash dividend of EUR150 million, which represents a dividend distribution of EUR 0.8606 per ordinary share. The cash dividend is payable on May 6, 2025 to all shareholders of record as at April 14, 2025 through the bank or broker administering the shares. Reported Earnings • Feb 22
Full year 2024 earnings released: EPS: US$0.84 (vs US$2.74 in FY 2023) Full year 2024 results: EPS: US$0.84 (down from US$2.74 in FY 2023). Revenue: US$4.78b (down 3.6% from FY 2023). Net income: US$150.0m (down 70% from FY 2023). Profit margin: 3.1% (down from 9.9% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Feb 20
SBM Offshore N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026 SBM Offshore N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026 Announcement • Oct 25
China Merchants Financial Leasing (Hong Kong) Holding Co. Limited completed the acquisition of 13.50% stake in FPSO Sepetiba from SBM Offshore N.V. (ENXTAM:SBMO). China Merchants Financial Leasing (Hong Kong) Holding Co. Limited agreed to acquire 13.50% stake in FPSO Sepetiba from SBM Offshore N.V. (ENXTAM:SBMO) on February 10, 2022. Upon completion, SBM Offshore is operator of the FPSO and will remain the majority shareholder with 51% ownership interest. The transaction remains subject to various approvals.
China Merchants Financial Leasing (Hong Kong) Holding Co. Limited completed the acquisition of 13.50% stake in FPSO Sepetiba from SBM Offshore N.V. (ENXTAM:SBMO) on October 24, 2022. Reported Earnings • Aug 13
First half 2024 earnings released: EPS: US$0.65 (vs US$1.00 in 1H 2023) First half 2024 results: EPS: US$0.65 (down from US$1.00 in 1H 2023). Revenue: US$2.22b (down 9.4% from 1H 2023). Net income: US$116.0m (down 35% from 1H 2023). Profit margin: 5.2% (down from 7.3% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Buy Or Sell Opportunity • Aug 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €16.36. The fair value is estimated to be €13.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 8.7%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings are forecast to decline by 5.6% per annum over the same time period. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Announcement • Aug 09
SBM Offshore N.V. to Report First Half, 2024 Results on Aug 07, 2025 SBM Offshore N.V. announced that they will report first half, 2024 results on Aug 07, 2025 New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.8% average weekly change). Announcement • Apr 13
SBM Offshore N.V., Annual General Meeting, Apr 09, 2025 SBM Offshore N.V., Annual General Meeting, Apr 09, 2025. Upcoming Dividend • Apr 09
Upcoming dividend of US$0.83 per share Eligible shareholders must have bought the stock before 16 April 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Austrian dividend payers (5.8%). Higher than average of industry peers (3.4%). Declared Dividend • Mar 03
Dividend of US$0.83 announced Shareholders will receive a dividend of US$0.83. Ex-date: 16th April 2024 Payment date: 1st January 1970 Dividend yield will be 6.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 8 years and payments have been stable during that time. EPS is expected to decline by 45% over the next 3 years. Since a fall of 34% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$2.74 (vs US$2.53 in FY 2022) Full year 2023 results: EPS: US$2.74 (up from US$2.53 in FY 2022). Revenue: US$4.96b (up 1.0% from FY 2022). Net income: US$491.0m (up 9.1% from FY 2022). Profit margin: 9.9% (in line with FY 2022). Revenue is expected to decline by 5.8% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.0%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 29
SBM Offshore N.V. to Report Fiscal Year 2024 Results on Feb 20, 2025 SBM Offshore N.V. announced that they will report fiscal year 2024 results on Feb 20, 2025 Buy Or Sell Opportunity • Feb 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to €12.13. The fair value is estimated to be €15.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to decline by 16% in 2 years. Earnings are forecast to decline by 6.8% in the next 2 years. Announcement • Feb 13
SBM Offshore N.V. Announces Retirement of Jaap Van Wiechen as Supervisory Board Member SBM Offshore announced that Jaap van Wiechen will reach the end of the first four-year term as Supervisory Board member at the Annual General Meeting of April 12, 2024 (AGM). He has decided not to seek a second mandate. Recent Insider Transactions • Jan 09
Chairman of Management Board & CEO recently sold €683k worth of stock On the 3rd of January, Bruno Y. Chabas sold around 54k shares on-market at roughly €12.65 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Bruno Y.'s only on-market trade for the last 12 months. Announcement • Nov 15
SBM Offshore N.V., Annual General Meeting, Feb 29, 2024 SBM Offshore N.V., Annual General Meeting, Feb 29, 2024. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.7% average weekly change). Profit margins are more than 30% lower than last year (6.7% net profit margin). Announcement • Nov 10
SBM Offshore Revises Earnings Guidance for the Year 2023 SBM Offshore revised earnings guidance for the year 2023. The company now expects 2023 Directional revenue to be above $2.9 billion to around $4.4 billion of which, unchanged, around $1.9 billion is expected from Lease and Operate and around $2.5 billion is expected from Turnkey compared to above $1 billion in the previous guidance. Announcement • Sep 07
SBM Offshore N.V. to Report Fiscal Year 2023 Results on Feb 09, 2024 SBM Offshore N.V. announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Aug 14
First half 2023 earnings released: EPS: US$1.00 (vs US$1.67 in 1H 2022) First half 2023 results: EPS: US$1.00 (down from US$1.67 in 1H 2022). Revenue: US$2.45b (up 1.8% from 1H 2022). Net income: US$179.0m (down 40% from 1H 2022). Profit margin: 7.3% (down from 12% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.3% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 10
SBM Offshore N.V. Maintains Earnings Guidance for the Year 2023 SBM Offshore N.V. maintained earnings guidance for the year 2023. The company’s 2023 Directional revenue guidance is maintained at above $2.9 billion of which around $1.9 billion is expected from the Lease and Operate segment and above $1 billion from the Turnkey segment. 2023 Directional EBITDA guidance is maintained above $1 billion. This guidance considers the currently foreseen impacts from the war between Russia and Ukraine on projects and fleet operations. The Company highlights that the direct and indirect effects from this event could continue to have a material impact on the Company’s business and results and the realization of the guidance for 2023. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: US$2.53 (vs US$2.18 in FY 2021) Full year 2022 results: EPS: US$2.53 (up from US$2.18 in FY 2021). Revenue: US$4.91b (up 31% from FY 2021). Net income: US$450.0m (up 13% from FY 2021). Profit margin: 9.2% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 5.4%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
SBM Offshore N.V. Revises Revenue Guidance for the Year 2022 SBM Offshore N.V. revised revenue guidance for the year 2022. The Company’s 2022 Directional revenue guidance is revised from around USD 3.2 billion to above USD 3.2 billion, with guidance for the Lease and Operate segment revised from around USD 1.7 billion to above USD 1.7 billion and guidance for the Turnkey segment maintained at above USD 1.5 billion. Reported Earnings • Aug 05
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down US$148.0m from profit in 1H 2021). Profit margin: (down from 9.5% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 32% compared to a 18% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 05
SBM Offshore N.V. to Report Q2, 2023 Results on Aug 10, 2023 SBM Offshore N.V. announced that they will report Q2, 2023 results on Aug 10, 2023 Announcement • Aug 04
SBM Offshore N.V. Provides Earnings Guidance for the Full Year 2022 SBM Offshore N.V. provided earnings guidance for the full year 2022. The company’s 2022 Directional revenue guidance is revised from above USD 3.1 billion to around USD 3.2 billion, of which around USD 1.7 billion is expected from the Lease and Operate segment and above USD 1.5 billion from the Turnkey segment. Announcement • Jun 03
SBM Offshore N.V. Announces Board Changes SBM Offshore announced that Philippe Barril has decided to step down on August 31, 2022 from his role as Chief Transition Officer (CTO) further to his appointment as CEO of Heerema Marine Contractors on September 1, 2022. Philippe was appointed member of the Management Board and Chief Operating Officer in 2015, becoming CTO in April 2022 with responsibility for Human Resources, Legal & Compliance, Health, Safety, Security and Environment and some other corporate functions. Following Philippe’s departure, it has been decided to simplify the structure of the Management Board. The CTO portfolio will therefore be allocated among the remaining three Management Board members with the aim of ensuring continued focus on SBM Offshore’s advancement as an energy transition company. Announcement • Apr 07
SBM Offshore N.V., Annual General Meeting, Apr 13, 2023 SBM Offshore N.V., Annual General Meeting, Apr 13, 2023. Upcoming Dividend • Apr 01
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 08 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 6.2%. Within top quartile of Austrian dividend payers (4.6%). Higher than average of industry peers (3.5%). Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$2.18 (up from US$1.01 in FY 2020). Revenue: US$3.75b (up 7.2% from FY 2020). Net income: US$400.0m (up 109% from FY 2020). Profit margin: 11% (up from 5.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Over the next year, revenue is expected to shrink by 27% compared to a 20% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 08
Chairman of Management Board & CEO recently sold €684k worth of stock On the 5th of January, Bruno Y. Chabas sold around 51k shares on-market at roughly €13.36 per share. This was the largest sale by an insider in the last 3 months. This was Bruno Y.'s only on-market trade for the last 12 months. Reported Earnings • Aug 09
First half 2021 earnings released: EPS US$0.79 (vs US$0.52 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: US$1.56b (down 2.3% from 1H 2020). Net income: US$148.0m (up 51% from 1H 2020). Profit margin: 9.5% (up from 6.2% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 12
SBM Offshore N.V. Provides Earnings Guidance for the Year 2021 SBM Offshore N.V. provided earnings guidance for the year 2021. The company’s 2021 Directional revenue guidance is maintained at around USD 2.6 billion, of which around USD 1.6 billion is expected from the Lease and Operate segment and around USD 1 billion from the Turnkey segment. Executive Departure • Apr 14
Independent Member of Supervisory Board has left the company On the 7th of April, Laurence B. L. Mulliez's tenure as Independent Member of Supervisory Board ended after 6.0 years in the role. We don't have any record of a personal shareholding under Laurence B. L.'s name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Apr 03
Upcoming dividend of US$0.89 per share Eligible shareholders must have bought the stock before 09 April 2021. Payment date: 06 May 2021. Trailing yield: 4.8%. Within top quartile of Austrian dividend payers (3.2%). Higher than average of industry peers (3.2%). Recent Insider Transactions • Feb 14
COO & Member of Management Board recently sold €1.6m worth of stock On the 11th of February, Philippe Barril sold around 112k shares on-market at roughly €14.73 per share. This was the largest sale by an insider in the last 3 months. Philippe has been a seller over the last 12 months, reducing personal holdings by €2.2m. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS US$1.01 (vs US$1.84 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$3.50b (up 3.1% from FY 2019). Net income: US$191.0m (down 48% from FY 2019). Profit margin: 5.5% (down from 11% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 12
SBM Offshore N.V. to Report Fiscal Year 2021 Results on Feb 10, 2022 SBM Offshore N.V. announced that they will report fiscal year 2021 results on Feb 10, 2022 Recent Insider Transactions • Jan 10
Chairman of Management Board & CEO recently sold €804k worth of stock On the 5th of January, Bruno Y. Chabas sold around 51k shares on-market at roughly €15.79 per share. This was the largest sale by an insider in the last 3 months. Bruno Y. has been a seller over the last 12 months, reducing personal holdings by €1.9m. Announcement • Dec 22
SBM Offshore N.V. Announces Changes in Supervisory Board SBM Offshore N.V. announced Mrs. Laurence Mulliez and Mr. Andy Brown will step down from the Supervisory Board. After serving 6 years on the Supervisory Board, Mrs. Laurence Mulliez announced that she will step down at the time of the General Shareholder meeting on April 7, 2021. Mr. Andy Brown will leave the board by year end 2020 to prepare for a role in another company in the course of 2021. Mr. Andy Brown joined the Supervisory Board in 2020. Recent Insider Transactions • Nov 15
Chairman of Management Board & CEO recently sold €138k worth of stock On the 12th of November, Bruno Y. Chabas sold around 9k shares on-market at roughly €15.52 per share. This was the largest sale by an insider in the last 3 months. Bruno Y. has been a seller over the last 12 months, reducing personal holdings by €1.8m. Is New 90 Day High Low • Nov 11
New 90-day high: €15.43 The company is up 3.0% from its price of €15.02 on 12 August 2020. The Austrian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.35 per share. Announcement • Oct 02
SBM Offshore Wins Contracts for Exxonmobil FPSO Prosperity SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Payara development project located in the Stabroek block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and operate the Prosperity FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL. The award follows completion of front-end engineering and design studies, completion of the multi-purpose hull, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers. The Payara development is the third development within the Stabroek block, circa 200 kilometers offshore Guyana. EEPGL is the operator and holds a 45% interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30% interest and CNOOC Petroleum Guyana Limited holds a 25% interest. The Prosperity FPSO will utilize a design that largely replicates the design of the Liza Unity FPSO. As such, the design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the company’s new build, multi-purpose hull combined with several standardized topsides modules. The FPSO will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The FPSO will be spread moored in water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil. As a result of the award from EEPGL, SBM Offshore also anticipates the award of contracts to Guyanese companies for work to be performed in Guyana. For example, the Company is looking at executing scope for fabrication and coating of a portion of the light structural steel for the FPSO in Guyana, which would be a first for SBM Offshore in country. Additionally, SBM Offshore is preparing to recruit and employ Guyanese engineers into the Payara project team. Both activities are focused on development of Guyanese capacity, building on efforts to date for the LizaDestiny and LizaUnity FPSOs. 
