SBM Offshore N.V.
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Publicatie datum
10 aug 2016 - 18:00
Statutaire naam
SBM Offshore N.V.
Titel
SBM OFFSHORE 2016 HALF-YEAR EARNINGS
Bericht
Solid Turnkey Performance; Cost Savings Ahead of Plan; Positive Free Cash Flow Generation; EUR 150 Million Share Repurchase
August 10, 2016
SBM Offshore is pleased to report revenue in line with expectations, a Settlement Agreement with Petrobras and Brazilian authorities, the delivery of two of three vessels under construction and FPSO Turritella approaching Ready for Start-Up leading to first oil. The revenue contribution from the new additions to the Lease & Operate fleet has allowed the Company to commence generating positive free cash flow in the first half of the current fiscal year, which is expected to be continued over the remainder of 2016. While the oil and gas industry continues to face headwinds, SBM Offshore is playing its part to lower the cost of deepwater development. These advances have led to increased client engagement and positive signs for the medium term outlook of the offshore industry. The Company reiterates its 2016 guidance and announces the initiation of a EUR 150 million share repurchase program.
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Datum laatste update: 02 september 2024