Weekly share repurchase program transaction details
SBM Offshore (SBFFF) has reported transaction details for its EUR65 million share repurchase program for the period July 25-31, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of July 31, 2024:
- 55.11% of the program has been completed
- EUR 35,822,836 cumulative repurchase amount
- 2,532,528 shares repurchased
- EUR 14.15 average repurchase price
In the last 5 trading days, 72,033 shares were repurchased at an average price of EUR 14.74. The company's strategy focuses on offshore floating facilities for the energy industry, emphasizing responsible energy transition and emission reduction.
SBM Offshore (SBFFF) ha comunicato i dettagli delle transazioni per il suo programma di riacquisto di azioni da 65 milioni di euro per il periodo dal 25 al 31 luglio 2024. Il programma, annunciato il 29 febbraio 2024, ha l'obiettivo di ridurre il capitale azionario. Alla data del 31 luglio 2024:
- È stato completato il 55,11% del programma
- Importo cumulativo del riacquisto di 35.822.836 euro
- 2.532.528 azioni riacquistate
- Prezzo medio di riacquisto di 14,15 euro
Negli ultimi 5 giorni di trading, sono state riacquistate 72.033 azioni a un prezzo medio di 14,74 euro. La strategia dell'azienda si concentra su strutture galleggianti offshore per l'industria energetica, ponendo l'accento sulla transizione energetica responsabile e sulla riduzione delle emissioni.
SBM Offshore (SBFFF) ha reportado los detalles de la transacción de su programa de recompra de acciones de 65 millones de euros para el período del 25 al 31 de julio de 2024. El programa, anunciado el 29 de febrero de 2024, tiene como objetivo reducir el capital social. Al 31 de julio de 2024:
- Se ha completado el 55,11% del programa
- Importe acumulado de recompra de 35.822.836 euros
- 2.532.528 acciones recompradas
- Precio medio de recompra de 14,15 euros
En los últimos 5 días de negociación, se recompraron 72.033 acciones a un precio medio de 14,74 euros. La estrategia de la empresa se centra en instalaciones flotantes en alta mar para la industria energética, enfatizando la transición energética responsable y la reducción de emisiones.
SBM Offshore (SBFFF)는 2024년 7월 25일부터 31일까지의 6,500만 유로 규모의 자사주 매입 프로그램 거래 세부 정보를 보고했습니다. 이 프로그램은 2024년 2월 29일에 발표되었으며, 주식 자본을 줄이는 것을 목표로 하고 있습니다. 2024년 7월 31일 기준:
- 프로그램의 55.11%가 완료되었습니다
- 누적 매입 금액은 35,822,836 유로입니다
- 2,532,528주가 매입되었습니다
- 평균 매입 가격은 14.15 유로입니다
최근 5일 거래일 동안 72,033주가 평균 가격 14.74 유로로 매입되었습니다. 회사의 전략은 에너지 산업을 위한 해상 부유 시설에 집중하고 있으며, 책임 있는 에너지 전환과 배출 감소에 중점을 두고 있습니다.
SBM Offshore (SBFFF) a rapporté les détails de la transaction pour son programme de rachat d'actions de 65 millions d'euros pour la période du 25 au 31 juillet 2024. Le programme, annoncé le 29 février 2024, vise à réduire le capital social. Au 31 juillet 2024 :
- 55,11 % du programme a été complété
- Montant cumulé de rachat de 35.822.836 euros
- 2.532.528 actions rachetées
- Prix moyen de rachat de 14,15 euros
Au cours des 5 derniers jours de négociation, 72.033 actions ont été rachetées à un prix moyen de 14,74 euros. La stratégie de l'entreprise se concentre sur des installations flottantes en mer pour l'industrie énergétique, en mettant l'accent sur une transition énergétique responsable et la réduction des émissions.
SBM Offshore (SBFFF) hat die Transaktionsdetails für sein 65 Millionen Euro Aktienrückkaufprogramm für den Zeitraum vom 25. bis 31. Juli 2024 gemeldet. Das Programm, das am 29. Februar 2024 angekündigt wurde, zielt darauf ab, das Eigenkapital zu reduzieren. Bis zum 31. Juli 2024:
- 55,11% des Programms wurden abgeschlossen
- Kumulierte Rückkaufhöhe von 35.822.836 Euro
- 2.532.528 Aktien wurden zurückgekauft
- Durchschnittlicher Rückkaufpreis von 14,15 Euro
In den letzten 5 Handelstagen wurden 72.033 Aktien zu einem Durchschnittspreis von 14,74 Euro zurückgekauft. Die Strategie des Unternehmens konzentriert sich auf Offshore-floater für die Energieindustrie und betont einen verantwortungsvollen Energieschwenk sowie die Emissionsreduktion.
- Consistent progress in share repurchase program, with 55.11% completion
- EUR 35,822,836 invested in share buybacks, potentially increasing shareholder value
- Average repurchase price of EUR 14.15, below the current market price, indicating efficient use of capital
- Significant capital expenditure of EUR 65 million for share repurchases may impact available funds for other investments or operations
Weekly share repurchase program transaction details
July 31, 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 July 31, 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 35,822,836 | ||||||
| Cumulative Quantity Repurchased | 2,532,528 | ||||||
| Cumulative Average Repurchase Price | EUR 14.15 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of July 31, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| July 25, 2024 | 10,813 | EUR 14.49 | EUR 156,726 | ||||
| July 26, 2024 | 19,000 | EUR 14.71 | EUR 279,549 | ||||
| July 29, 2024 | 19,000 | EUR 14.70 | EUR 279,334 | ||||
| July 30, 2024 | 9,000 | EUR 14.76 | EUR 132,836 | ||||
| July 31, 2024 | 14,220 | EUR 14.98 | EUR 213,013 | ||||
| Total | 72,033 | EUR 14.74 | EUR 1,061,457 | ||||
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
Anne Guerin-Moens
Group HR & Communications Director
| Mobile: | +377 92 05 15 09 |
| E-mail: | anne.guerin-moens@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.
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 “Float4WindTM” 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?
When did SBM Offshore (SBFFF) start its current share repurchase program?
How many shares has SBM Offshore (SBFFF) repurchased as of July 31, 2024?
What is the average repurchase price for SBM Offshore (SBFFF) shares in the current program?
