Weekly share repurchase program transaction details
SBM Offshore (SBFFF) has provided an update on its EUR130 million (c. US$140 million) share repurchase program. From December 5-11, 2024, the company repurchased 194,012 shares at an average price of EUR16.92, totaling EUR3,283,433. The program, initially announced on February 29, 2024, for EUR65 million and increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs.
As of December 11, 2024, the company has completed 65.66% of the program, having repurchased 5,501,274 shares at an average price of EUR15.52, for a cumulative amount of EUR85,361,601.
SBM Offshore (SBFFF) ha fornito un aggiornamento sul suo programma di riacquisto di azioni da 130 milioni di euro (circa 140 milioni di dollari). Dal 5 all'11 dicembre 2024, la società ha riacquistato 194.012 azioni a un prezzo medio di 16,92 euro, per un totale di 3.283.433 euro. Il programma, inizialmente annunciato il 29 febbraio 2024 per 65 milioni di euro e aumentato di ulteriori 65 milioni di euro l'8 agosto 2024, mira a ridurre il capitale azionario e fornire azioni per i programmi per i dipendenti.
Al 11 dicembre 2024, la società ha completato il 65,66% del programma, avendo riacquistato 5.501.274 azioni a un prezzo medio di 15,52 euro, per un importo cumulativo di 85.361.601 euro.
SBM Offshore (SBFFF) ha proporcionado una actualización sobre su programa de recompra de acciones de 130 millones de euros (aproximadamente 140 millones de dólares). Del 5 al 11 de diciembre de 2024, la empresa recompró 194.012 acciones a un precio promedio de 16,92 euros, totalizando 3.283.433 euros. El programa, anunciado inicialmente el 29 de febrero de 2024 por 65 millones de euros y aumentado en otros 65 millones de euros el 8 de agosto de 2024, tiene como objetivo reducir el capital social y proporcionar acciones para los programas de empleados.
Hasta el 11 de diciembre de 2024, la empresa ha completado el 65,66% del programa, habiendo recomprado 5.501.274 acciones a un precio promedio de 15,52 euros, por un monto acumulado de 85.361.601 euros.
SBM Offshore (SBFFF)는 1억 3천만 유로(약 1억 4천만 달러)의 자사주 매입 프로그램에 대한 업데이트를 제공했습니다. 2024년 12월 5일부터 11일 사이에 회사는 평균 가격 16.92 유로로 194,012주를 매입했으며, 총액은 3,283,433 유로입니다. 이 프로그램은 2024년 2월 29일에 6천5백만 유로로 처음 발표되었으며, 2024년 8월 8일에 추가로 6천5백만 유로로 증액되었습니다. 이 프로그램의 목적은 자본금을 줄이고 직원 프로그램에 사용할 주식을 제공하는 것입니다.
2024년 12월 11일 현재, 회사는 프로그램의 65.66%를 완료했으며, 평균 가격 15.52 유로로 5,501,274주를 매입하여 누적 금액 85,361,601 유로를 기록했습니다.
SBM Offshore (SBFFF) a fourni une mise à jour sur son programme de rachat d'actions de 130 millions d'euros (environ 140 millions de dollars). Du 5 au 11 décembre 2024, la société a racheté 194 012 actions à un prix moyen de 16,92 euros, totalisant 3 283 433 euros. Le programme, annoncé inititalement le 29 février 2024 pour 65 millions d'euros et augmenté de 65 millions d'euros supplémentaires le 8 août 2024, vise à réduire le capital social et à fournir des actions pour les programmes pour employés.
Au 11 décembre 2024, la société a complété 65,66 % du programme, ayant racheté 5 501 274 actions à un prix moyen de 15,52 euros, pour un montant cumulé de 85 361 601 euros.
SBM Offshore (SBFFF) hat ein Update zu seinem Aktienrückkaufprogramm in Höhe von 130 Millionen Euro (ca. 140 Millionen US-Dollar) bereitgestellt. Vom 5. bis 11. Dezember 2024 hat das Unternehmen 194.012 Aktien zu einem Durchschnittspreis von 16,92 Euro zurückgekauft, was insgesamt 3.283.433 Euro ausmacht. Das Programm, das ursprünglich am 29. Februar 2024 mit 65 Millionen Euro angekündigt wurde und am 8. August 2024 um weitere 65 Millionen Euro erhöht wurde, zielt darauf ab, das Eigenkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen.
Stand 11. Dezember 2024 hat das Unternehmen 65,66% des Programms abgeschlossen, wobei 5.501.274 Aktien zu einem Durchschnittspreis von 15,52 Euro zurückgekauft wurden, was einen kumulierten Betrag von 85.361.601 Euro ergibt.
- 65.66% completion of EUR130 million share repurchase program indicates strong execution
- Average repurchase price of EUR15.52 shows efficient capital allocation
- Share buyback reduces outstanding shares, potentially increasing EPS
- None.
Amsterdam, December 11, 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 December 11, 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 85,361,601 | ||||||
| Cumulative Quantity Repurchased | 5,501,274 | ||||||
| Cumulative Average Repurchase Price | EUR 15.52 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of December 11, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| December 5, 2024 | 25,163 | EUR 17.16 | EUR 431,782 | ||||
| December 6, 2024 | 46,851 | EUR 16.96 | EUR 794,438 | ||||
| December 9, 2024 | 26,961 | EUR 17.02 | EUR 458,965 | ||||
| December 10, 2024 | 47,356 | EUR 16.87 | EUR 799,071 | ||||
| December 11, 2024 | 47,681 | EUR 16.76 | EUR 799,176 | ||||
| Total | 194,012 | EUR 16.92 | EUR 3,283,433 | ||||
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
How much has SBM Offshore (SBFFF) spent on share repurchases as of December 11, 2024?
What is the average price per share SBFFF paid in its buyback program?
How many shares has SBFFF repurchased in total under the current program?
What are the objectives of SBFFF's share repurchase program?
When did SBFFF increase its share repurchase program?
