Weekly share repurchase program transaction details
SBM Offshore has provided an update on its EUR130 million (c. US$140 million) share repurchase program for December 19-24, 2024. The program, initially announced at EUR65 million on February 29, 2024, and increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for management and employee programs.
As of December 24, 2024, the company has completed 70.77% of the program, repurchasing 5,899,015 shares at an average price of EUR15.60, totaling EUR92,004,521. In the last trading week, 159,483 shares were repurchased at an average price of EUR16.72, amounting to EUR2,666,232.
SBM Offshore ha fornito un aggiornamento sul suo programma di riacquisto di azioni da 130 milioni di euro (circa 140 milioni di dollari USA) per il periodo dal 19 al 24 dicembre 2024. Il programma, inizialmente annunciato per 65 milioni di euro il 29 febbraio 2024, è stato aumentato di ulteriori 65 milioni di euro l'8 agosto 2024, con l'obiettivo di ridurre il capitale sociale e fornire azioni per programmi di gestione e per i dipendenti.
Al 24 dicembre 2024, l'azienda ha completato il 70,77% del programma, riacquistando 5.899.015 azioni a un prezzo medio di 15,60 euro, per un totale di 92.004.521 euro. Nell'ultima settimana di negoziazione, sono state riacquistate 159.483 azioni a un prezzo medio di 16,72 euro, per un totale di 2.666.232 euro.
SBM Offshore ha proporcionado una actualización sobre su programa de recompra de acciones de 130 millones de euros (aproximadamente 140 millones de dólares estadounidenses) para el periodo del 19 al 24 de diciembre de 2024. El programa, anunciado inicialmente por 65 millones de euros el 29 de febrero de 2024, se incrementó en otros 65 millones de euros el 8 de agosto de 2024, con el objetivo de reducir el capital social y proporcionar acciones para programas de gestión y empleados.
Hasta el 24 de diciembre de 2024, la empresa ha completado el 70,77% del programa, recomprando 5.899.015 acciones a un precio promedio de 15,60 euros, lo que totaliza 92.004.521 euros. En la última semana de negociación, se recompraron 159.483 acciones a un precio promedio de 16,72 euros, por un total de 2.666.232 euros.
SBM Offshore는 2024년 12월 19일부터 24일까지의 1억 3천만 유로 (약 1억 4천만 달러) 주식 재매입 프로그램에 대한 업데이트를 제공했습니다. 이 프로그램은 2024년 2월 29일에 6천5백만 유로로 처음 발표되었고, 2024년 8월 8일에 추가로 6천5백만 유로가 늘어난 것으로, 자본금을 줄이고 관리 및 직원 프로그램을 위한 주식을 제공하는 것을 목표로 하고 있습니다.
2024년 12월 24일 현재, 회사는 프로그램의 70.77%를 완료했으며, 5,899,015 주식을 평균 가격 15.60 유로에 재매입하여 총 92,004,521 유로에 달했습니다. 마지막 거래 주 동안 159,483 주식이 평균 가격 16.72 유로에 재매입되어 총 2,666,232 유로에 달했습니다.
SBM Offshore a fourni une mise à jour concernant son programme de rachat d'actions de 130 millions d'euros (environ 140 millions de dollars américains) pour la période du 19 au 24 décembre 2024. Le programme, initialement annoncé à 65 millions d'euros le 29 février 2024, a été augmenté de 65 millions d'euros supplémentaires le 8 août 2024, afin de réduire le capital social et de fournir des actions pour les programmes de gestion et des employés.
Au 24 décembre 2024, la société avait complété 70,77% du programme, rachetant 5.899.015 actions à un prix moyen de 15,60 euros, pour un total de 92.004.521 euros. Au cours de la dernière semaine de négociation, 159.483 actions ont été rachetées à un prix moyen de 16,72 euros, représentant un montant total de 2.666.232 euros.
SBM Offshore hat ein Update zu seinem 130 Millionen Euro (ca. 140 Millionen US-Dollar) Aktienrückkaufprogramm für den Zeitraum vom 19. bis 24. Dezember 2024 bereitgestellt. Das Programm wurde zunächst am 29. Februar 2024 mit 65 Millionen Euro angekündigt und am 8. August 2024 um weitere 65 Millionen Euro erhöht, mit dem Ziel, das Grundkapital zu reduzieren und Aktien für Management- und Mitarbeiterprogramme bereitzustellen.
Zum 24. Dezember 2024 hat das Unternehmen 70,77% des Programms abgeschlossen und 5.899.015 Aktien zu einem durchschnittlichen Preis von 15,60 Euro zurückgekauft, was insgesamt 92.004.521 Euro ausmacht. In der letzten Handelswoche wurden 159.483 Aktien zu einem durchschnittlichen Preis von 16,72 Euro gekauft, was 2.666.232 Euro entspricht.
- 70.77% completion of EUR130 million share buyback program shows strong execution
- Share repurchases reduce outstanding shares, potentially increasing EPS
- Program demonstrates financial strength and commitment to shareholder returns
- Higher average repurchase price of EUR16.72 in recent trades vs EUR15.60 program average indicates increasing costs
Amsterdam, December 24, 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 24, 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 92,004,521 | ||||||
| Cumulative Quantity Repurchased | 5,899,015 | ||||||
| Cumulative Average Repurchase Price | EUR 15.60 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of December 24, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| December 19, 2024 | 46,914 | EUR 16.71 | EUR 784,013 | ||||
| December 20, 2024 | 46,897 | EUR 16.66 | EUR 781,313 | ||||
| December 23, 2024 | 47,472 | EUR 16.72 | EUR 793,684 | ||||
| December 24, 2024 | 18,200 | EUR 16.88 | EUR 307,221 | ||||
| December 25, 2024 | Stock markets are closed | ||||||
| Total | 159,483 | EUR 16.72 | EUR 2,666,232 | ||||
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 | |
| Extraordinary General Meeting | January 17 | 2025 | |
| 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 of SBM Offshore's (SBFFF) share buyback program is completed as of December 2024?
What is the average share price paid in SBM Offshore's (SBFFF) buyback program?
When did SBM Offshore (SBFFF) increase its share buyback program?
What are the objectives of SBM Offshore's (SBFFF) share repurchase program?
How many shares has SBM Offshore (SBFFF) repurchased in total under the current program?
