SBM OFFSHORE NV ORD - SBFFF STOCK NEWS

SBM Offshore reports a record-level pro-forma order book of US$32.2 billion and net cash flow of US$9.5 billion from sales backlog. Revenue for the first half of 2023 decreased by 15% compared to the same period in 2022. EBITDA decreased by 9%. The company has secured over US$3.2 billion in project financing. Two FPSOs are on track for first oil by year-end. The company's strategy as an Energy Transition Company is delivering results.

SBM Offshore has successfully conducted its Annual General Meeting on April 13, 2023, with all resolutions adopted. Key outcomes include the appointment of Allard Castelein to the Supervisory Board and shareholder approval for a cash dividend of US$1.10 per ordinary share. The dividend will be disbursed in Euros at a conversion rate of 1.1045, amounting to €0.9959 per ordinary share, payable on May 11, 2023, to shareholders recorded by April 18, 2023. ABN AMRO will manage the dividend payment and offers a Dividend Reinvestment Plan (DRIP) for shareholders who wish to reinvest their dividends into company shares. For more details, visit SBM Offshore's website.

SBM Offshore has successfully secured project financing of US$1.63 billion for the FPSO Almirante Tamandaré, aided by a consortium of 13 international banks and covered by 4 Export Credit Agencies (ECA). The financing encompasses five facilities with a weighted average cost of debt around 6.3% and a maturity period of 14 years post-completion. The FPSO, designed with SBM Offshore’s Fast4Ward® hull, will be Brazil's largest oil-producing unit, boasting a capacity of 225,000 barrels of oil and 12 million m³ of gas per day. It will operate under a 26.25-year contract with Petrobras at the Búzios field.

SBM Offshore has published the agenda and invitation for its Annual General Meeting (AGM), scheduled for April 13, 2023, at 14:30 Central European Time, at IntercityHotel Amsterdam Airport, Netherlands. The company specializes in offshore energy solutions, focusing on reducing emissions and advancing renewable energy. SBM Offshore employs over 7,000 professionals committed to sustainable energy practices. Key upcoming dates include a First Quarter 2023 Trading Update on May 11 and Half Year 2023 Earnings on August 10. For more information, visit www.sbmoffshore.com.

SBM Offshore announced the nomination of Allard Castelein to join its Supervisory Board during the upcoming Annual General Meeting on April 13, 2023. Castelein, notably the President and CEO of the Port of Rotterdam since 2014, will be transitioning from his current role in the summer. His extensive experience includes over 26 years at Shell, culminating as Vice President of Environment. This strategic board appointment aims to enhance leadership and drive the company’s ongoing commitment to the offshore energy industry’s transition towards more sustainable solutions.

SBM Offshore reported a record 2022 EBITDA of US$1,010 million, aligned with guidance, and a year-end backlog of US$30.5 billion. Proposed dividends increased by 10% to US$1.10 per share, offering a 7% yield. The company’s 2023 revenue guidance exceeds US$2.9 billion, with EBITDA guidance also above US$1 billion. Challenges remain due to COVID-19 and the Ukraine conflict affecting operations and costs. Notably, the FPSO Cidade de Anchieta resumed production, but an impairment of US$92 million was recorded. The company aims for 50% reduction in emissions intensity by 2030.