Weekly share repurchase program transaction details
SBM Offshore has reported details of its EUR130 million (c. US$140 million) share repurchase program for November 14-20, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 20, 2024, the company has completed 58.71% of the program, repurchasing 4,972,596 shares at an average price of EUR15.35, totaling EUR76,317,693. In the last five trading days, 123,956 shares were repurchased at an average price of EUR17.69, amounting to EUR2,193,205.
SBM Offshore ha riportato i dettagli del suo programma di riacquisto di azioni del valore di 130 milioni di euro (circa 140 milioni di dollari USA) per il periodo dal 14 al 20 novembre 2024. Il programma, inizialmente annunciato per 65 milioni di euro e successivamente raddoppiato, ha l'obiettivo di ridurre il capitale sociale e fornire azioni per i programmi per i dipendenti. Al 20 novembre 2024, la società ha completato il 58,71% del programma, riacquistando 4.972.596 azioni a un prezzo medio di 15,35 euro, per un totale di 76.317.693 euro. Negli ultimi cinque giorni di trading, sono state riacquisite 123.956 azioni a un prezzo medio di 17,69 euro, per un importo totale di 2.193.205 euro.
SBM Offshore ha reportado los detalles de su programa de recompra de acciones de 130 millones de euros (aproximadamente 140 millones de dólares estadounidenses) para el período del 14 al 20 de noviembre de 2024. El programa, inicialmente anunciado por 65 millones de euros y luego duplicado, tiene como objetivo reducir el capital social y proporcionar acciones para los programas de empleados. Hasta el 20 de noviembre de 2024, la compañía ha completado el 58,71% del programa, recomprando 4.972.596 acciones a un precio medio de 15,35 euros, totalizando 76.317.693 euros. En los últimos cinco días de negociación, se recompraron 123.956 acciones a un precio medio de 17,69 euros, alcanzando un total de 2.193.205 euros.
SBM Offshore는 2024년 11월 14일부터 20일까지 1억 3천만 유로(약 1억 4천만 달러)의 자사주 매입 프로그램에 대한 세부사항을 보고했습니다. 처음에 6천5백만 유로로 발표된 이 프로그램은 나중에 두 배로 늘어났으며, 자본금을 줄이고 직원 프로그램을 위해 주식을 제공하는 것을 목표로 하고 있습니다. 2024년 11월 20일 현재, 회사는 프로그램의 58.71%를 완료했으며, 평균 가격 15.35유로로 4,972,596주를 재매입하여 총 76,317,693유로에 달했습니다. 최근 5일 동안 123,956주가 평균 가격 17.69유로로 재매입되어 총 2,193,205유로에 달했습니다.
SBM Offshore a rapporté les détails de son programme de rachat d'actions de 130 millions d'euros (environ 140 millions de dollars américains) pour la période du 14 au 20 novembre 2024. Le programme, initialement annoncé à 65 millions d'euros puis doublé, vise à réduire le capital social et à fournir des actions pour les programmes des employés. Au 20 novembre 2024, l'entreprise avait achevé 58,71 % du programme, ayant racheté 4 972 596 actions à un prix moyen de 15,35 euros, pour un total de 76 317 693 euros. Au cours des cinq derniers jours de négociation, 123 956 actions ont été rachetées à un prix moyen de 17,69 euros, totalisant 2 193 205 euros.
SBM Offshore hat die Einzelheiten seines Aktienrückkaufprogramms im Wert von 130 Millionen Euro (ca. 140 Millionen US-Dollar) für den Zeitraum vom 14. bis 20. November 2024 bekannt gegeben. Das Programm, das ursprünglich mit 65 Millionen Euro angekündigt wurde und später verdoppelt wurde, zielt darauf ab, das Grundkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Bis zum 20. November 2024 hat das Unternehmen 58,71 % des Programms abgeschlossen und 4.972.596 Aktien zu einem durchschnittlichen Preis von 15,35 Euro zurückgekauft, was insgesamt 76.317.693 Euro ausmacht. In den letzten fünf Handelstagen wurden 123.956 Aktien zu einem Durchschnittspreis von 17,69 Euro zurückgekauft, was insgesamt 2.193.205 Euro entspricht.
- 58.71% completion of EUR130 million share repurchase program
- Consistent execution of share buybacks showing strong capital return to shareholders
- Program demonstrates company's financial capacity for capital returns
- Higher average repurchase price in recent days (EUR17.69) compared to program average (EUR15.35)
- Significant cash outflow for share repurchases may reduce funds available for operations
November 20, 2024
SBM Offshore reports the transaction details related to its EUR130 million (c. US
The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024, effective from March 1, 2024 and increased by EUR65 million as announced on August 8, 2024. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period March 1, 2024 through November 20, 2024 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company’s website.
| Share Repurchase Program | |||||||
| Overall progress Share Repurchase Program: | |||||||
| Total Repurchase Amount | EUR 130,000,000 | ||||||
| Cumulative Repurchase Amount | EUR 76,317,693 | ||||||
| Cumulative Quantity Repurchased | 4,972,596 | ||||||
| Cumulative Average Repurchase Price | EUR 15.35 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of November 20, 2024 | | ||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| November 14, 2024 | 28,855 | EUR 17.91 | EUR 516,706 | ||||
| November 15, 2024 | 19,076 | EUR 17.46 | EUR 333,021 | ||||
| November 18, 2024 | 20,661 | EUR 17.71 | EUR 365,894 | ||||
| November 19, 2024 | 27,412 | EUR 17.64 | EUR 483,644 | ||||
| November 20, 2024 | 27,952 | EUR 17.67 | EUR 493,940 | ||||
| Total | 123,956 | EUR 17.69 | EUR 2,193,205 | ||||
1All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise
This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 29, 2024 and August 8, 2024, details of which are available on its website.
Corporate Profile
SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.
More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Full Year 2024 Earnings | February 20 | 2025 | |
| Annual General Meeting | April 9 | 2025 | |
| First Quarter 2025 Trading Update | May 15 | 2025 | |
| Half Year 2025 Earnings | August 7 | 2025 | |
| Third Quarter 2025 Trading Update | November 13 | 2025 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Mobile: | +31 (0) 2 02 36 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Giampaolo Arghittu
Head of External Relations
| Phone: | +31 (0)6 212 62 333 / +39 33 494 79 584 |
| E-mail: | giampaolo.arghittu@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.
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FAQ
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