Weekly share repurchase program transaction details
SBM Offshore reports progress on its EUR130 million share repurchase program for November 7-13, 2024. The program, initially launched at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 13, 2024, the company has repurchased 4,848,640 shares at an average price of EUR15.29, completing 57.02% of the program with EUR74,124,488 spent. In the last five trading days, 101,647 shares were repurchased at an average price of EUR17.58, totaling EUR1,787,022.
SBM Offshore riporta progressi sul suo programma di riacquisto di azioni da 130 milioni di euro per il periodo dal 7 al 13 novembre 2024. Il programma, inizialmente lanciato con un valore di 65 milioni di euro e successivamente raddoppiato, mira a ridurre il capitale azionario e fornire azioni per i programmi per i dipendenti. Al 13 novembre 2024, l'azienda ha riacquistato 4.848.640 azioni a un prezzo medio di 15,29 euro, completando il 57,02% del programma con una spesa di 74.124.488 euro. Negli ultimi cinque giorni di trading, sono state riacquistate 101.647 azioni a un prezzo medio di 17,58 euro, per un totale di 1.787.022 euro.
SBM Offshore informa sobre el progreso de su programa de recompra de acciones por 130 millones de euros para el periodo del 7 al 13 de noviembre de 2024. El programa, inicialmente lanzado con 65 millones de euros y posteriormente duplicado, tiene como objetivo reducir el capital social y proporcionar acciones para los programas de empleados. A fecha del 13 de noviembre de 2024, la empresa ha recomprado 4.848.640 acciones a un precio promedio de 15,29 euros, completando el 57,02% del programa con un gasto de 74.124.488 euros. En los últimos cinco días de operaciones, se han recomprado 101.647 acciones a un precio promedio de 17,58 euros, totalizando 1.787.022 euros.
SBM Offshore는 2024년 11월 7일부터 13일까지의 130백만 유로 규모의 자사주 매입 프로그램에 대한 진행 상황을 보고했습니다. 이 프로그램은 처음에 65백만 유로로 시작하였고, 이후 두 배로 늘어났으며, 주식 자본을 줄이고 직원 프로그램을 위한 주식을 제공하는 것을 목표로 합니다. 2024년 11월 13일 기준, 회사는 평균 가격 15.29 유로로 4,848,640 주를 재매입하였으며, 프로그램의 57.02%가 완료되었고, 총 74,124,488 유로가 사용되었습니다. 최근 5일간 거래에서 평균 17.58 유로에 101,647 주가 재매입되어 총 1,787,022 유로에 달했습니다.
SBM Offshore fait rapport sur les progrès de son programme de rachat d'actions d'un montant de 130 millions d'euros pour la période du 7 au 13 novembre 2024. Le programme, initialement lancé à 65 millions d'euros et ensuite doublé, vise à réduire le capital social et à fournir des actions pour les programmes destinés aux employés. Au 13 novembre 2024, l'entreprise a racheté 4.848.640 actions à un prix moyen de 15,29 euros, complétant 57,02% du programme avec un montant dépensé de 74.124.488 euros. Lors des cinq derniers jours de négociation, 101.647 actions ont été rachetées à un prix moyen de 17,58 euros, pour un total de 1.787.022 euros.
SBM Offshore berichtet über den Fortschritt seines Aktienrückkaufprogramms im Wert von 130 Millionen Euro für den Zeitraum vom 7. bis 13. November 2024. Das Programm, das zunächst mit 65 Millionen Euro lanciert und später verdoppelt wurde, zielt darauf ab, das Grundkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Am 13. November 2024 hat das Unternehmen 4.848.640 Aktien zu einem Durchschnittspreis von 15,29 Euro zurückgekauft, was 57,02% des Programms mit einem ausgegebenen Betrag von 74.124.488 Euro entspricht. In den letzten fünf Handelstagen wurden 101.647 Aktien zu einem Durchschnittspreis von 17,58 Euro zurückgekauft, insgesamt 1.787.022 Euro.
- 57.02% completion of EUR130 million share repurchase program shows strong execution
- Share repurchase program reduces outstanding shares, potentially increasing shareholder value
- Company demonstrates financial strength to support buyback program
- Average repurchase price increased from EUR15.29 overall to EUR17.58 in recent trades, indicating higher costs for remaining buybacks
November 13, 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 13, 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 74,124,488 | ||||||
| Cumulative Quantity Repurchased | 4,848,640 | ||||||
| Cumulative Average Repurchase Price | EUR 15.29 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of November 13, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| November 7, 2024 | 12,592 | EUR 17.44 | EUR 219,573 | ||||
| November 8, 2024 | 12,483 | EUR 17.68 | EUR 220,723 | ||||
| November 11, 2024 | 19,686 | EUR 17.93 | EUR 353,057 | ||||
| November 12, 2024 | 27,572 | EUR 17.60 | EUR 485,344 | ||||
| November 13, 2024 | 29,314 | EUR 17.34 | EUR 508,325 | ||||
| Total | 101,647 | EUR 17.58 | EUR 1,787,022 | ||||
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 | |
| 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
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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