Weekly share repurchase program transaction details
SBM Offshore reports progress on its EUR130 million (c. US$140 million) share repurchase program for October 24-30, 2024. The program, initially announced at EUR65 million and later increased by another EUR65 million, aims to reduce share capital and provide shares for employee programs. As of October 30, 2024, the company has completed 53.82% of the program, repurchasing 4,606,991 shares at an average price of EUR15.19, totaling EUR69,962,823. In the last five trading days, 192,010 shares were repurchased at an average price of EUR16.69, amounting to EUR3,204,955.
SBM Offshore segnala progressi nel suo programma di riacquisto di azioni da EUR130 milioni (circa US$140 milioni) per il periodo dal 24 al 30 ottobre 2024. Il programma, inizialmente annunciato per EUR65 milioni e poi aumentato di ulteriori EUR65 milioni, ha l'obiettivo di ridurre il capitale sociale e fornire azioni per i programmi per i dipendenti. Alla data del 30 ottobre 2024, l'azienda ha completato il 53,82% del programma, riacquistando 4.606.991 azioni ad un prezzo medio di EUR15,19, per un totale di EUR69.962.823. Negli ultimi cinque giorni di contrattazione, sono state riacquistate 192.010 azioni ad un prezzo medio di EUR16,69, per un ammontare di EUR3.204.955.
SBM Offshore informa sobre el progreso de su programa de recompra de acciones de EUR130 millones (aproximadamente US$140 millones) para el período del 24 al 30 de octubre de 2024. El programa, anunciado inicialmente por EUR65 millones y luego aumentado en otros EUR65 millones, tiene como objetivo reducir el capital social y proporcionar acciones para programas de empleados. A fecha del 30 de octubre de 2024, la compañía ha completado el 53,82% del programa, recomprando 4.606.991 acciones a un precio promedio de EUR15,19, totalizando EUR69.962.823. En los últimos cinco días de negociación, se han recomprado 192.010 acciones a un precio promedio de EUR16,69, lo que equivale a EUR3.204.955.
SBM Offshore는 2024년 10월 24일부터 30일까지의 주식 재매입 프로그램에 대한 진행 상황을 보고했습니다. 이 프로그램은 EUR130 백만 (약 US$140 백만)으로, 처음 발표된 EUR65 백만에서 추가로 EUR65 백만53.82%를 완료했으며, 평균 가격 EUR15.19에 4,606,991 주식을 재매입하여 총 EUR69,962,823의 가치를 기록했습니다. 지난 5일 거래일 동안에 평균 가격 EUR16.69에 192,010 주를 재매입하여 EUR3,204,955에 해당합니다.
SBM Offshore fait le point sur les progrès de son programme de rachat d'actions de EUR130 millions (environ 140 millions de dollars US) pour la période du 24 au 30 octobre 2024. Ce programme, initialement annoncé à EUR65 millions puis augmenté de EUR65 millions, vise à réduire le capital social et à fournir des actions pour les programmes destinés aux employés. Au 30 octobre 2024, la société a complété 53,82% du programme, en rachetant 4.606.991 actions à un prix moyen de EUR15,19, totalisant EUR69.962.823. Au cours des cinq derniers jours de négociation, 192.010 actions ont été rachetées à un prix moyen de EUR16,69, ce qui représente un montant de EUR3.204.955.
SBM Offshore berichtet über den Fortschritt seines Aktienrückkaufprogramms in Höhe von EUR130 Millionen (ca. US$140 Millionen) für den Zeitraum vom 24. bis 30. Oktober 2024. Das Programm, das zunächst mit EUR65 Millionen angekündigt und später um weitere EUR65 Millionen erhöht wurde, zielt darauf ab, das Aktienkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Zum 30. Oktober 2024 hat das Unternehmen 53,82% des Programms abgeschlossen und 4.606.991 Aktien zu einem Durchschnittspreis von EUR15,19 zurückgekauft, was insgesamt EUR69.962.823 entspricht. In den letzten fünf Handelstagen wurden 192.010 Aktien zu einem Durchschnittspreis von EUR16,69 zurückgekauft, was EUR3.204.955 entspricht.
- 53.82% completion of EUR130 million share repurchase program
- Consistent execution of share buybacks showing strong cash position
- Program supports shareholder value through capital return
- Higher average repurchase price in recent trades (EUR16.69) compared to program average (EUR15.19)
October 30, 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 October 30, 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 69,962,823 | ||||||
| Cumulative Quantity Repurchased | 4,606,991 | ||||||
| Cumulative Average Repurchase Price | EUR 15.19 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of October 30, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| October 24, 2024 | 31,108 | EUR 16.81 | EUR 522,785 | ||||
| October 25, 2024 | 31,729 | EUR 16.73 | EUR 530,744 | ||||
| October 28, 2024 | 47,739 | EUR 16.59 | EUR 791,952 | ||||
| October 29, 2024 | 34,091 | EUR 16.75 | EUR 570,884 | ||||
| October 30, 2024 | 47,343 | EUR 16.66 | EUR 788,589 | ||||
| Total | 192,010 | EUR 16.69 | EUR 3,204,955 | ||||
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
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What are the objectives of SBM Offshore's (SBFFF) share repurchase program?
