SBM Offshore 2019 Full Year Earnings

February 13, 2020

Guidance delivered, doubling dividend, share repurchase and backlog up 40%

Highlights

  • 2019 guidance delivered: Directional[1] revenue US$2,171 million; reported Directional EBITDA US$921 million
  • Underlying[2] Directional EBITDA US$832 million
  • US$6 billion net increase of pro-forma backlog[3] to US$21 billion
  • 100% increase in dividend to US$150 million
  • Launch of EUR150 million (c. US$165 million) share repurchase
  • Market outlook positive, underscored by five hulls in the Fast4Ward® program
  • ‘Ambition 2030’: 25% of SBM Offshore’s revenues from Gas and Renewables by 2030
  • eMission Zero FPSO concept initiated aiming at net zero carbon emissions
  • 2020 Directional revenue guidance of above US$2.3 billion; Directional EBITDA guidance of around US$900 million, an increase of c. 8% compared with 2019

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