Weekly share repurchase program transaction details
SBM Offshore reports progress on its EUR130 million (c. US$140 million) share repurchase program from October 31 to November 6, 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 6, 55.64% of the program is completed, with EUR72.3 million spent to repurchase 4.7 million shares at an average price of EUR15.24. The latest week saw 140,002 shares purchased at an average price of EUR16.96, totaling EUR2.37 million.
SBM Offshore riporta progressi sul suo programma di riacquisto di azioni del valore di 130 milioni di euro (circa 140 milioni di dollari USA) dal 31 ottobre al 6 novembre 2024. Il programma, inizialmente annunciato per un valore di 65 milioni di euro e successivamente raddoppiato, ha l'obiettivo di ridurre il capitale azionario e fornire azioni per i programmi per dipendenti. A partire dal 6 novembre, 55.64% del programma è stato completato, con 72.3 milioni di euro spesi per riacquistare 4.7 milioni di azioni a un prezzo medio di 15.24 euro. L'ultima settimana ha visto l'acquisto di 140.002 azioni a un prezzo medio di 16.96 euro, per un totale di 2.37 milioni di euro.
SBM Offshore informa sobre el progreso de su programa de recompra de acciones por un valor de 130 millones de euros (aproximadamente 140 millones de dólares estadounidenses) desde el 31 de octubre hasta el 6 de noviembre de 2024. El programa, que fue anunciado inicialmente por 65 millones de euros y luego duplicado, tiene como objetivo reducir el capital social y proporcionar acciones para programas para empleados. A partir del 6 de noviembre, se ha completado el 55.64% del programa, con 72.3 millones de euros gastados en la recompra de 4.7 millones de acciones a un precio promedio de 15.24 euros. La última semana se adquirieron 140.002 acciones a un precio promedio de 16.96 euros, totalizando 2.37 millones de euros.
SBM Offshore는 2024년 10월 31일부터 11월 6일까지 1억 3천만 유로 (약 1억 4천만 미국 달러)의 자사주 매입 프로그램 진행 상황을 보고합니다. 이 프로그램은 처음에 6천5백만 유로로 발표된 후 두 배로 증가하였으며, 주식 자본을 줄이고 직원 프로그램을 위한 주식을 제공하는 것을 목표로 합니다. 11월 6일 기준으로 프로그램의 55.64%가 완료되었고, 7천2백30만 유로가 470만 주를 평균 15.24 유로의 가격에 매입하는 데 사용되었습니다. 최근 주에는 140,002주가 평균 16.96 유로의 가격에 구입되어 총 237만 유로에 달합니다.
SBM Offshore fait état des progrès de son programme de rachat d'actions d'un montant de 130 millions d'euros (environ 140 millions de dollars américains) du 31 octobre au 6 novembre 2024. Le programme, initialement annoncé à 65 millions d'euros puis doublé, vise à réduire le capital-actions et à fournir des actions pour des programmes pour les employés. Au 6 novembre, 55.64% du programme est achevé, avec 72.3 millions d'euros dépensés pour racheter 4.7 millions d'actions à un prix moyen de 15.24 euros. La dernière semaine a vu l'achat de 140.002 actions à un prix moyen de 16.96 euros, totalisant 2.37 millions d'euros.
SBM Offshore berichtet über den Fortschritt seines Aktienrückkaufprogramms im Wert von 130 Millionen Euro (ca. 140 Millionen US-Dollar) vom 31. Oktober bis 6. November 2024. Das Programm, das zunächst mit 65 Millionen Euro angekündigt und später verdoppelt wurde, zielt darauf ab, das Aktienkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Am 6. November waren 55.64% des Programms abgeschlossen, wobei 72.3 Millionen Euro ausgegeben wurden, um 4,7 Millionen Aktien zu einem Durchschnittspreis von 15.24 Euro zurückzukaufen. In der letzten Woche wurden 140.002 Aktien zu einem Durchschnittspreis von 16.96 Euro gekauft, was insgesamt 2.37 Millionen Euro ausmacht.
- 55.64% completion of the EUR130 million share repurchase program
- Consistent execution of share buybacks with 4.7 million shares already repurchased
- Share repurchase program indicates strong cash position and commitment to shareholder returns
- Higher average purchase price in recent transactions (EUR16.96) compared to program average (EUR15.24)
- Significant cash outlay of EUR72.3 million for share repurchases
November 6, 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 6, 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 72,337,465 | ||||||
| Cumulative Quantity Repurchased | 4,746,993 | ||||||
| Cumulative Average Repurchase Price | EUR 15.24 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of November 6, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| October 31, 2024 | 32,371 | EUR 16.73 | EUR 541,496 | ||||
| November 1, 2024 | 26,993 | EUR 16.95 | EUR 457,566 | ||||
| November 4, 2024 | 27,819 | EUR 16.97 | EUR 472,216 | ||||
| November 5, 2024 | 27,730 | EUR 16.98 | EUR 470,772 | ||||
| November 6, 2024 | 25,089 | EUR 17.24 | EUR 432,591 | ||||
| Total | 140,002 | EUR 16.96 | EUR 2,374,642 | ||||
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 designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.
More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Third Quarter 2024 Trading Update | November 14 | 2024 | |
| 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 |
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
Evelyn Tachau Brown
Group Communications & Change Director
| Mobile: | +377 (0) 6 40 62 30 34 |
| E-mail: | evelyn.tachau-brown@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
What is the total value of SBM Offshore's (SBFFF) current share repurchase program?
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