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

SBM OFFSHORE N.V

(SBMO)
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SBM Offshore lifts guidance on better-than-expected turnkey performance

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11/14/2019 | 02:02am EST

Dutch oil and gas services firm SBM Offshore on Thursday raised its full-year core profit and revenue outlook on better-than-expected performance in its turnkey division.

For 2019, SBM Offshore now expects earnings before interest, tax, depreciation and amortisation (EBITDA) of about $800 million (£625 million) on revenues of around $2.1 billion, an increase from prior forecasts of above $750 million and above $2 billion respectively.

"We increased our EBITDA guidance for the full year based on better-than-expected results in turnkey and solid performance in lease and operate," said Bruno Chabas, CEO of SBM Offshore, in a statement.

The turnkey division builds and sells floating production and storage vessels to oil and gas firms while SBM's lease and operate division runs and leases the vessels, which get later sold to customers after an initial lease period.

Turnkey year-to-date revenue almost doubled to $498 million while the lease and operate segment fell 1% to $972 million but was in line with the company's historical average of 99% uptime, SBM said.

SBM Offshore generated a total revenue of $1.47 billion over the first three quarters of 2019, an increase of 18% year-on-year.

(Reported by Camille Raynaud; Editing by Shailesh Kuber & Shri Navaratnam)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.67% 63.71 Delayed Quote.16.84%
SBM OFFSHORE N.V 0.10% 15.785 Delayed Quote.22.01%
WTI -0.75% 58.4 Delayed Quote.28.48%
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Financials (USD)
Sales 2019 2 039 M
EBIT 2019 324 M
Net income 2019 153 M
Debt 2019 3 777 M
Yield 2019 2,23%
P/E ratio 2019 23,5x
P/E ratio 2020 14,3x
EV / Sales2019 3,55x
EV / Sales2020 3,27x
Capitalization 3 464 M
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Technical analysis trends SBM OFFSHORE N.V
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 22,10  $
Last Close Price 17,44  $
Spread / Highest target 58,7%
Spread / Average Target 26,7%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
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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