Edition:
United States

SBM Offshore NV (SBMO.AS)

SBMO.AS on Amsterdam Stock Exchange

16.85EUR
23 Apr 2019
Change (% chg)

-- (--)
Prev Close
€16.85
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
938,073
52-wk High
€17.83
52-wk Low
€10.14

Latest Key Developments (Source: Significant Developments)

SBM Offshore To Challenge AFM Fine Related To Timing Of Disclosures
Friday, 29 Mar 2019 03:02am EDT 

March 29 (Reuters) - SBM Offshore NV ::SBM OFFSHORE TO CHALLENGE AFM FINE RELATED TO TIMING OF DISCLOSURES BETWEEN 2012 AND 2014.AFM INFORMED THAT ITS OPTION IS CERTAIN PUBLIC DISCLOSURES IN RELATION TO CO'S INTERNAL INVESTIGATION INTO ALLEGED IMPROPER SALES PRACTICES PRIOR TO 2012 WEREN'T MADE TIMELY.AFM HAS DECIDED TO IMPOSE A FINE ON COMPANY OF EUR 2 MILLION.COMPANY DISAGREES AND IS OF OPINION THAT IT HAS TIMELY DISCLOSED RELEVANT INFORMATION.WILL THEREFORE OPPOSE DECISION AND INITIATE A PROCEDURE AGAINST DECISION AS PROVIDED BY LAW AND, IF NEEDED, APPEAL DECISION IN COURT.  Full Article

SBM Offshore FY IFRS Underlying EBITDA Up At 844 Million Euros
Thursday, 14 Feb 2019 01:00am EST 

Feb 14 (Reuters) - SBM OFFSHORE NV ::2018 GUIDANCE DELIVERED: DIRECTIONAL1 REVENUE US$1,703 MILLION; UNDERLYING2 DIRECTIONAL EBITDA US$784 MILLION.2018 DIRECTIONAL EBITDA OF US$995 MILLION (INCLUDING NON-RECURRING ITEMS).DIVIDEND INCREASE OF C. 50% TO US$75 MILLION PROPOSED (EQUIVALENT TO US$0.37 PER SHARE).LAUNCH OF EUR175 MILLION (C. US$200 MILLION) SHARE REPURCHASE PROGRAM.2019 DIRECTIONAL REVENUE GUIDANCE OF AROUND US$2.0 BILLION.2019 DIRECTIONAL EBITDA GUIDANCE OF AROUND US$750 MILLION.FY IFRS REVENUE EUR 2.24 BILLION VERSUS EUR 1.86 BILLION YEAR AGO.FY IFRS UNDERLYING EBITDA EUR 844 MILLION VERSUS EUR 823 MILLION YEAR AGO.FOLLOWING THE FIFTH CHAMBER APPROVAL OF THE AGREEMENT WITH THE BRAZILIAN FEDERAL PROSECUTOR'S OFFICE (MPF), IT HAS MADE A COURT FILING TO TERMINATE THE IMPROBITY LAWSUIT INCLUDING THE ASSOCIATED PROVISIONAL MEASURE TO SECURE PAYMENT OF POTENTIAL DAMAGES.UPON CLOSURE OF THE LAWSUIT, THE AGREEMENT WITH THE MPF WILL BECOME FULLY EFFECTIVE, AFTER WHICH SBM OFFSHORE WILL PAY THE EARLIER ANNOUNCED FINE OF BRL200 MILLION.IN ACCORDANCE WITH THE TERMS OF THE LENIENCY AGREEMENT SIGNED BETWEEN SBM OFFSHORE, CGU, AGU AND PETROBRAS ON JULY 26, 2018, CO RECEIVED CONFIRMATION THAT ADMINISTRATIVE PROCEEDING BEFORE THE CGU AGAINST SBM OFFSHORE WAS TERMINATED.TOTAL RECOVERY BY THE COMPANY IS EXPECTED TO END AT C. US$200 MILLION, WHICH INCLUDES COMPENSATION FOR LEGAL EXPENSES PAID BY CO DURING YEARS OF THE LITIGATION.  Full Article

SBM Offshore Announces Final Settlement Of Its Insurance Claim Related To YME Project
Monday, 10 Sep 2018 12:01pm EDT 

Sept 10 (Reuters) - SBM OFFSHORE NV ::ANNOUNCES FULL AND FINAL SETTLEMENT OF ITS INSURANCE CLAIM RELATED TO THE YME PROJECT.INSURANCE RECOVERIES RELATED TO YME PROJECT REPRESENT A TOTAL AMOUNT CLOSE TO US$390 MILLION.REMAINING AMOUNT OF INSURANCE RECOVERIES WILL BE SHARED EQUALLY BETWEEN SBM OFFSHORE AND REPSOL.LITIGATION AGAINST INSURERS AND ASSOCIATED TRIAL WHICH WAS DUE TO COMMENCE ON OCTOBER 1, 2018 WILL BE PUT TO AN END.  Full Article

SMB Offshore Reaches Final Settlement With MPF Over Alleged Improper Sales Practices Before 2012
Saturday, 1 Sep 2018 11:43am EDT 

Sept 3 (Reuters) - SBM OFFSHORE NV :ANNOUNCED ON SATURDAY SIGNATURE OF AGREEMENT WITH BRAZILIAN PUBLIC PROSECUTOR(MPF) .AGREEMENT MEANS THAT CO REACHED FINAL SETTLEMENT WITH MPF OVER ALLEGED IMPROPER SALES PRACTICES BEFORE 2012.MPF COMMITS TO REFRAIN FROM INITIATING NEW LEGAL PROCEEDINGS AGAINST CO UNDER IMPROBITY LAW, ANTI-CORRUPTION LAW AND PUBLIC-PROCUREMENT LAW IN RELATION TO LEGACY ISSUES IN BRAZIL.MPF AND CO WILL REQUEST COURT TO FORMALLY CLOSE IMPROBITY LAWSUIT FILED BY MPF IN 2017, INCLUDING ASSOCIATED PROVISIONAL MEASURE TO SECURE PAYMENT OF POTENTIAL DAMAGES.AGREEMENT PROVIDES FOR PAYMENT OF ADDITIONAL FINE BY SBM OFFSHORE OF BRL 200 MLN (BRAZILIAN REAIS) (ABOUT $48 MLN).ADDITIONAL FINE TO BE PAID TO PETROBRAS IN INSTALMENTS: UPFRONT PAYMENT OF BRL 60 MLN, WITH SEVEN BRL 20 MLN INSTALLMENTS THEREAFTER.  Full Article

SBM Offshore H1 IFRS EBITDA Down At 433 Million Dollars
Thursday, 9 Aug 2018 01:00am EDT 

Aug 9 (Reuters) - SBM OFFSHORE NV ::SBM OFFSHORE 2018 HALF-YEAR EARNINGS.H1 IFRS REVENUE $1.02 BILLION VERSUS $ 862.0 MILLION YEAR AGO.H1 IFRS EBITDA $ 433 MILLION VERSUS $ 453.0 MILLION YEAR AGO.2018 DIRECTIONAL REVENUE GUIDANCE ADJUSTED TO AROUND US$1.7 BILLION WITH US$1.3 BILLION FROM LEASE AND OPERATE.PRO-FORMA DIRECTIONAL BACKLOG AT END OF JUNE 2018 DECREASED BY C. US$0.7 BILLION TO A TOTAL OF US$16.1 BILLION.CONTINUES TO POSITION ITSELF TO BENEFIT FROM THE ANTICIPATED ENERGY TRANSITION TOWARDS MORE GAS DEVELOPMENTS AND RENEWABLE ENERGY SOURCES.H1 IFRS PROFIT ATTRIBUTABLE TO SHAREHOLDERS $ 147 MILLION VERSUS $ 92 MILLION YEAR AGO.UNDERLYING 2018 DIRECTIONAL EBITDA GUIDANCE MAINTAINED AT AROUND US$750 MILLION.ADJUSTING THE GUIDANCE FOR TURNKEY REVENUES FOR 2018 TO AROUND US$0.4 BILLION.OVERALL 2018 GUIDANCE FOR REVENUES NOW BECOMES AROUND US$1.7 BILLION IN AGGREGATE.  Full Article

Petrobras says SBM to pay it 549 mln reais as part of leniency deal
Thursday, 26 Jul 2018 05:05pm EDT 

July 26 (Reuters) - Petroleo Brasileiro SA Petrobras ::BRAZIL'S STATE-CONTROLLED OIL COMPANY PETROBRAS SAYS SIGNED LENIENCY DEAL WITH SBM OFFSHORE AND SBM HOLDING - FILING.PETROBRAS SAYS SBM TO PAY IT 549 MILLION REAIS AS PART OF LENIENCY DEAL - FILING.  Full Article

SBM Offshore Says Leniency Agreement Signed Between SBM Offshore, Brazilian Authorities And Petrobras
Thursday, 26 Jul 2018 04:35pm EDT 

July 26 (Reuters) - SBM Offshore NV ::LENIENCY AGREEMENT SIGNED BETWEEN SBM OFFSHORE, BRAZILIAN AUTHORITIES AND PETROBRAS.SBM OFFSHORE - PAYMENT AMOUNTS AGREED UPON IN LENIENCY AGREEMENT ARE IN LINE WITH PROVISION MAINTAINED BY CO CORRESPONDING TO THIS INITIAL AGREEMENT.SBM OFFSHORE - UNDER THE TERMS OF THE LENIENCY AGREEMENT, CGU, AGU AND PETROBRAS COMMIT TO TERMINATE ALL OF THEIR INVESTIGATIONS AGAINST THE COMPANY.  Full Article

SBM Offshore Updates On Legacy Issues In Brazil
Thursday, 5 Jul 2018 01:04am EDT 

July 5 (Reuters) - SBM OFFSHORE NV ::UPDATE ON LEGACY ISSUES IN BRAZIL.ON JULY 4, 2018 COMPANY BECAME AWARE OF AN INTERIM DECISION BY JUDGE HANDLING CASE..FROM WHAT COMPANY UNDERSTANDS THUS FAR, JUDGE HAS PARTIALLY GRANTED REQUEST FOR A PROVISIONAL MEASURE.PROVISIONAL MEASURE AIMS TO ORDER PETROBRAS TO START WITHHOLDING A PERCENTAGE OF MONTHLY PAYMENTS DUE TO SBM OFFSHORE COMPANIES UNDER CERTAIN CHARTER CONTRACTS IN ESCROW.JUDGE IS REQUESTING MORE INFORMATION FROM PETROBRAS AND COMPANY.DECISION REFERENCES FACT THAT SBM OFFSHORE IS HEADQUARTERED OVERSEAS.BEFORE TAKING A DECISION ON AMOUNTS TO BE WITHHELD, JUDGE IS REQUESTING MORE INFORMATION FROM PETROBRAS AND COMPANY.PETROBRAS IS REQUESTED TO INDICATE ITS INTEREST IN BECOMING A PLAINTIFF IN IMPROBITY LAWSUIT AS WELL AS TO PRESENT EVIDENCE ON IMPACT OF RETENTION OF AMOUNTS..COMPANY STRONGLY DISAGREES WITH INTERIM DECISION, IS SEEKING FURTHER CLARIFICATION AND IS TAKING ALL APPROPRIATE MEASURES TO DEFEND ITS INTERESTS.COMPANY IS REQUESTED TO PROVIDE FINANCIAL INFORMATION ON CONTRACTS THAT ARE PART OF OBJECT OF THIS LITIGATION..FEDERAL GOVERNMENT IS ALSO REQUESTED TO INDICATE ITS INTEREST IN THIS LITIGATION..UNDER CURRENT CIRCUMSTANCES, COMPANY CANNOT GUARANTEE THAT A SATISFACTORY RESOLUTION WILL BE REACHED.  Full Article

SBM Offshore Awarded Contracts For Exxonmobil's Second Liza FPSO
Tuesday, 3 Jul 2018 01:00am EDT 

July 3 (Reuters) - SBM OFFSHORE NV ::PRESS RELEASE SBM OFFSHORE AWARDED CONTRACTS FOR EXXONMOBIL'S SECOND LIZA FPSO BASED ON ITS FAST4WARDTM PROGRAM.WILL CONSTRUCT, INSTALL AND THEN LEASE AND OPERATE FPSO FOR A PERIOD OF UP TO 2 YEARS.AFTER THIS TIME FPSO OWNERSHIP AND OPERATION WILL TRANSFER TO EEPGL..WITH RESPECT TO FPSO LIZA DESTINY DISCUSSIONS WITH CLIENT ARE UNDERWAY REGARDING A POTENTIAL ACCELERATED TRANSFER OF OWNERSHIP.  Full Article

SBM Q1 Directional Net Debt Decreased By Circa 550 Million Dollars
Wednesday, 9 May 2018 12:00pm EDT 

May 9 (Reuters) - SBM OFFSHORE NV ::SBM OFFSHORE FIRST QUARTER TRADING UPDATE.YEAR-TO-DATE 2018 DIRECTIONAL REVENUE OF US$385 MILLION IN LINE WITH MANAGEMENT EXPECTATIONS.FAST4WARD HULL PROGRESSING PER PLAN; FIRST STEEL CUT IN MARCH 2018.DIRECTIONAL NET DEBT DECREASED BY C. US$550 MILLION TO US$2.4 BILLION AT END OF Q1.2018 DIRECTIONAL REVENUE GUIDANCE IS MAINTAINED AT AROUND $1.9 BILLION.2018 DIRECTIONAL EBITDA GUIDANCE IS ALSO MAINTAINED AT AROUND US$750 MILLION.GUIDANCE ASSUMES A PARTIAL SELL-DOWN OF COMPANY'S OWNERSHIP SHARE OF FPSO LIZA.MARKET OUTLOOK IS POSITIVE AS INDUSTRY CONTINUES TO RECOVER, ALBEIT GRADUALLY -CEO.DISCUSSIONS BETWEEN MINISTRY OF TRANSPARENCY, OVERSIGHT AND CONTROL GENERAL COUNSEL FOR PETROBRAS AND SBM OFFSHORE RELATING TO LENIENCY AGREEMENT REMAIN ONGOING.DAMAGE CLAIM FILED BY FEDERAL PROSECUTOR'S OFFICE REMAINS UNDER REVIEW BY COURT.UNDER CURRENT CIRCUMSTANCES, COMPANY DOES NOT FORESEE AN ALL-ENCOMPASSING FINAL RESOLUTION IN BRAZIL IN SHORT TERM.BRAZIL: UNDER CURRENT CIRCUMSTANCES CANNOT GUARANTEE THAT SATISFACTORY RESOLUTION WILL BE REACHED WITH AUTHORITIES, NOR PREDICT TIMING THEREOF.  Full Article