Weekly share repurchase program transaction details
SBM Offshore reports progress on its EUR130 million share repurchase program from November 21-27, 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 27, 60.78% of the program is complete, with 5,127,131 shares repurchased at an average price of EUR15.41. The latest week saw 154,535 shares purchased at an average price of EUR17.44, totaling EUR2,695,030.
SBM Offshore riferisce progressi nel suo programma di riacquisto azioni da 130 milioni di euro dal 21 al 27 novembre 2024. Il programma, inizialmente annunciato per un importo di 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 27 novembre, il 60,78% del programma è stato completato, con 5.127.131 azioni riacquistate a un prezzo medio di 15,41 euro. Nell'ultima settimana sono state acquistate 154.535 azioni a un prezzo medio di 17,44 euro, per un totale di 2.695.030 euro.
SBM Offshore informa sobre los avances en su programa de recompra de acciones de 130 millones de euros del 21 al 27 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 programas de empleados. Al 27 de noviembre, se ha completado el 60,78% del programa, con 5.127.131 acciones recompradas a un precio medio de 15,41 euros. La última semana se compraron 154.535 acciones a un precio medio de 17,44 euros, sumando un total de 2.695.030 euros.
SBM Offshore는 2024년 11월 21일부터 27일 사이에 1억 3천만 유로의 자사주 매입 프로그램의 진행 상황을 보고합니다. 이 프로그램은 처음에 6천5백만 유로로 발표되었으며 이후 두 배로 늘어났으며, 자본을 줄이고 직원 프로그램을 위해 주식을 제공하는 것을 목표로 합니다. 11월 27일 현재, 프로그램의 60.78%가 완료되었으며, 평균 가격 15.41 유로에 5,127,131 주식을 매입했습니다. 최근 주간에는 평균 가격 17.44 유로에 154,535 주식이 매입되어 총 2,695,030 유로에 달합니다.
SBM Offshore rend compte des avancées de son programme de rachat d’actions d’un montant de 130 millions d’euros du 21 au 27 novembre 2024. Ce 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 27 novembre, 60,78% du programme est complété, avec 5.127.131 actions rachetées à un prix moyen de 15,41 euros. La dernière semaine a vu 154.535 actions achetées à un prix moyen de 17,44 euros, totalisant 2.695.030 euros.
SBM Offshore berichtet über Fortschritte bei seinem Aktienrückkaufprogramm von 130 Millionen Euro vom 21. bis 27. November 2024. Das Programm, das zunächst mit 65 Millionen Euro angekündigt und später verdoppelt wurde, zielt darauf ab, das Eigenkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Am 27. November war 60,78% des Programms abgeschlossen, mit 5.127.131 zurückgekauften Aktien zu einem Durchschnittspreis von 15,41 Euro. In der letzten Woche wurden 154.535 Aktien zu einem Durchschnittspreis von 17,44 Euro gekauft, was insgesamt 2.695.030 Euro entspricht.
- 60.78% completion of EUR130 million share repurchase program indicates strong execution
- Share buyback program reduces outstanding shares, potentially increasing shareholder value
- Company has financial strength to execute significant share repurchase program
- Average repurchase price increased from EUR15.41 overall to EUR17.44 in latest week, indicating higher costs for remaining buybacks
November 27, 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 27, 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 79,012,723 | | |||||
| Cumulative Quantity Repurchased | 5,127,131 | | |||||
| Cumulative Average Repurchase Price | EUR 15.41 | | |||||
| Start Date | March 1, 2024 | | |||||
| Percentage of program completed as of November 27, 2024 | | | |||||
| | |||||||
| Overview of details of last 5 trading days: | | ||||||
| | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | | |||
| November 21, 2024 | 20,000 | EUR 17.62 | EUR 352,456 | | |||
| November 22, 2024 | 24,054 | EUR 17.86 | EUR 429,628 | | |||
| November 25, 2024 | 32,693 | EUR 17.67 | EUR 577,741 | | |||
| November 26, 2024 | 32,820 | EUR 17.31 | EUR 568,160 | | |||
| November 27, 2024 | 44,968 | EUR 17.06 | EUR 767,045 | | |||
| Total | 154,535 | EUR 17.44 | EUR 2,695,030 | | |||
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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