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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  SBM Offshore N.V    SBMO   NL0000360618

SBM OFFSHORE N.V

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SBM Offshore N : Sea trial in the Principality of Monaco announced for SBM Offshore's innovative S3® Wave Energy Converter

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11/05/2019 | 05:40am EST

The announcement for the location of the test zone for SBM Offshore's wave energy converter took place at a joint press conference in the Principality of Monaco.

The WEC S3®, technology will be tested for the first time in the sea, offshore Monaco, within sight of SBM Offshore's engineering offices where the company's Renewable Energy team is located and within a stone's throw of the Carros-based laboratory where the manufacturing process for the WEC S3® prototype is in progress.

Speaking at the event to announce the one-year test from 2021 in its waters was Marie-Pierre Gramaglia, Government Counselor-Minister of Equipment, Environment and Urbanism, 'If we are alongside SBM Offshore for this world premiere, it is because the Principality, under the leadership of its Sovereigns, has long been a land of innovation. It is in this spirit that the State Services have mobilized to support the SBM Offshore teams for this experiment and make it possible in the Principality'.

Didier Beynet, SBM Offshore Monaco Country Director also addressed the press 'While continuous R&D basin tests have validated the feasibility of our wave energy technology, the step towards industrialization requires a prototype to be tested at sea, which will be connected to the electricity grid. We extend our sincere appreciation to the Monaco government for facilitating this significant milestone, particularly given the international support for renewable energy demonstrated by the Principality under the leadership of HSH Prince Albert II.'

The step into the sea with a prototype of this type of wave energy converter is a world-first and the chosen Monaco location, represents the ideal site to test the necessary criteria in real conditions. Described in simple terms, the prototype is a 'floating rubber tube', 60m long and 1.2m in diameter, which will be submerged at approximately 4m water depth. The sea footprint of the experimental site is approximately 300m by 80m with the anchors. The WEC S3® converts the kinetic energy from waves directly into electricity using Electro Active Polymers (EAP), which offers numerous benefits.

Disclaimer

SBM Offshore NV published this content on 05 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2019 10:39:05 UTC

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Financials (USD)
Sales 2019 2 003 M
EBIT 2019 324 M
Net income 2019 160 M
Debt 2019 3 486 M
Yield 2019 2,21%
P/E ratio 2019 21,3x
P/E ratio 2020 15,7x
EV / Sales2019 3,35x
EV / Sales2020 3,09x
Capitalization 3 230 M
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Number of Analysts 12
Average target price 23,27  $
Last Close Price 16,26  $
Spread / Highest target 71,0%
Spread / Average Target 43,1%
Spread / Lowest Target -8,54%
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Bruno Yves Raymond Chabas Chief Executive Officer
Floris G. H. Deckers Chairman- Supervisory Board
Philippe Barril Chief Operating Officer
Douglas H. M. Wood Chief Financial Officer
Thomas M. E. Ehret Vice Chairman-Supervisory Board
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