Weekly share repurchase program transaction details
SBM Offshore (SBFFF) has reported details of its EUR65 million share repurchase program for the period August 1-7, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of August 7, 57.70% of the program has been completed, with a cumulative repurchase amount of EUR37,501,830 for 2,650,595 shares at an average price of EUR14.15. In the last five trading days, 118,067 shares were repurchased at an average price of EUR14.22, totaling EUR1,678,994. The company designs, builds, and operates offshore floating facilities for the energy industry, focusing on reducing emissions from fossil fuel production and developing cleaner energy solutions.
SBM Offshore (SBFFF) ha riportato i dettagli del suo programma di riacquisto azioni del valore di 65 milioni di EUR per il periodo 1-7 agosto 2024. Il programma, annunciato il 29 febbraio 2024, ha l'obiettivo di ridurre il capitale sociale. Al 7 agosto, è stato completato il 57,70% del programma, con un importo cumulativo di riacquisto di 37.501.830 EUR per 2.650.595 azioni a un prezzo medio di 14,15 EUR. Negli ultimi cinque giorni di trading, sono state riacquistate 118.067 azioni a un prezzo medio di 14,22 EUR, per un totale di 1.678.994 EUR. L'azienda progetta, costruisce e gestisce impianti offshore galleggianti per l'industria energetica, concentrandosi sulla riduzione delle emissioni dalla produzione di combustibili fossili e sullo sviluppo di soluzioni energetiche più pulite.
SBM Offshore (SBFFF) ha informado sobre los detalles de su programa de recompra de acciones por 65 millones de EUR para el período del 1 al 7 de agosto de 2024. El programa, anunciado el 29 de febrero de 2024, tiene como objetivo reducir el capital social. Hasta el 7 de agosto, se ha completado el 57,70% del programa, con un importe acumulado de recompra de 37.501.830 EUR para 2.650.595 acciones a un precio promedio de 14,15 EUR. En los últimos cinco días de negociación, se han recomprado 118.067 acciones a un precio promedio de 14,22 EUR, totalizando 1.678.994 EUR. La empresa diseña, construye y opera instalaciones flotantes en alta mar para la industria energética, enfocándose en reducir las emisiones de la producción de combustibles fósiles y desarrollar soluciones energéticas más limpias.
SBM Offshore (SBFFF)는 6,500만 유로의 자사주 매입 프로그램에 대한 세부 사항을 보고했습니다. 기간은 2024년 8월 1일부터 7일까지입니다. 이 프로그램은 2024년 2월 29일에 발표되었으며, 자본금을 줄이는 것을 목표로 하고 있습니다. 8월 7일 기준으로, 프로그램의 57.70%가 완료되었으며, 총 매입 금액은 37,501,830 유로로 2,650,595 주식이 평균 14.15 유로의 가격으로 매입되었습니다. 최근 5일간 거래에서는 118,067 주식이 평균 14.22 유로의 가격으로 매입되어 총 1,678,994 유로에 달했습니다. 이 회사는 에너지 산업을 위한 해양 부유 시설을 설계, 건설 및 운영하며, 화석 연료 생산에서의 배출량을 줄이고 더 깨끗한 에너지 솔루션을 개발하는 데 집중하고 있습니다.
SBM Offshore (SBFFF) a rapporté les détails de son programme de rachat d'actions d'une valeur de 65 millions EUR pour la période du 1er au 7 août 2024. Le programme, annoncé le 29 février 2024, vise à réduire le capital social. Au 7 août, 57,70% du programme a été réalisé, avec un montant cumulé de rachats de 37.501.830 EUR pour 2.650.595 actions à un prix moyen de 14,15 EUR. Au cours des cinq dernières sessions de négociation, 118.067 actions ont été rachetées à un prix moyen de 14,22 EUR, pour un total de 1.678.994 EUR. L'entreprise conçoit, construit et exploite des installations flottantes en mer pour l'industrie énergétique, en se concentrant sur la réduction des émissions de la production de combustibles fossiles et le développement de solutions énergétiques plus propres.
SBM Offshore (SBFFF) hat Einzelheiten zu seinem 65 Millionen EUR großen Aktienrückkaufprogramm für den Zeitraum 1.-7. August 2024 bekannt gegeben. Das Programm, das am 29. Februar 2024 angekündigt wurde, zielt darauf ab, das Aktienkapital zu reduzieren. Bis zum 7. August wurde 57,70% des Programms abgeschlossen, mit einem kumulierten Rückkaufbetrag von 37.501.830 EUR für 2.650.595 Aktien zu einem durchschnittlichen Preis von 14,15 EUR. In den letzten fünf Handelstagen wurden 118.067 Aktien zu einem durchschnittlichen Preis von 14,22 EUR zurückgekauft, was insgesamt 1.678.994 EUR entspricht. Das Unternehmen entwirft, baut und betreibt offshore-floatende Einrichtungen für die Energiebranche, wobei der Fokus auf der Verringerung der Emissionen aus der Produktion fossiler Brennstoffe und der Entwicklung saubererer Energielösungen liegt.
- 57.70% of the EUR65 million share repurchase program completed, demonstrating commitment to shareholder value
- Cumulative repurchase of 2,650,595 shares at an average price of EUR14.15, potentially boosting EPS
- Consistent execution of the buyback program, with 118,067 shares repurchased in the last 5 trading days
- Significant capital expenditure of EUR37,501,830 on share repurchases, which could impact available funds for other investments or operations
August 7, 2024
SBM Offshore reports the transaction details related to its EUR65 million (c. US
The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024 and effective from March 1, 2024. The objective of the program is to reduce share capital. 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 August 7, 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 65,000,000 | ||||||
| Cumulative Repurchase Amount | EUR 37,501,830 | ||||||
| Cumulative Quantity Repurchased | 2,650,595 | ||||||
| Cumulative Average Repurchase Price | EUR 14.15 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of August 7, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| August 1, 2024 | 23,000 | EUR 14.84 | EUR 341,405 | ||||
| August 2, 2024 | 20,700 | EUR 14.54 | EUR 300,922 | ||||
| August 5, 2024 | 29,244 | EUR 13.87 | EUR 405,489 | ||||
| August 6, 2024 | 26,109 | EUR 13.89 | EUR 362,633 | ||||
| August 7, 2024 | 19,014 | EUR 14.12 | EUR 268,545 | ||||
| Total | 118,067 | EUR 14.22 | EUR 1,678,994 | ||||
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, 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 | |
| Half Year 2024 Earnings | August 8 | 2024 | |
| 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 |
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
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What percentage of SBM Offshore's (SBFFF) share repurchase program was completed as of August 7, 2024?
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