Netherlands · Delayed Price · Currency is EUR SBM Offshore Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue surged over 200% year-over-year to $3.5 billion, driven by major project awards and asset sales. Revenue guidance for 2026 was raised above $6.9 billion, with strong operational performance and significant deleveraging achieved.
Fiscal Year 2025
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Strong 2025 results featured $5.1B revenue, $1.7B EBITDA, and a 57% increase in shareholder returns. Three major FPSOs started up, boosting capacity and positioning for growth, with a robust backlog and $2.1B minimum returns projected over six years.
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Q3 2025 saw a 26% revenue increase to $3.6B, driven by strong turnkey execution and new FPSOs, with EBITDA guidance raised to $1.65B. Fleet uptime reached 99.4%, and early asset sales could reduce debt by $1.7B in 2026. Robust market outlook and digitalization initiatives support future growth.
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Strong H1 2025 results with 26% revenue growth and three major FPSOs delivered, leading to raised EBITDA and revenue guidance. Deleveraging continues, with robust backlog and cash returns to shareholders, while expansion into new ocean infrastructure markets is underway.
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Q1 2025 revenue rose 27% year-over-year to $1.1 billion, driven by Turnkey growth and new FPSO deliveries. Backlog reached $35.1 billion, guidance for 2025 was reaffirmed, and capital returns to shareholders remain on track.
Fiscal Year 2024
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Record 2024 revenue and EBITDA were driven by new FPSO awards and vessel sales, with the backlog reaching $35.1 billion. Shareholder returns are set to rise 30%, and guidance for 2025 remains strong, supported by a robust project pipeline and continued deleveraging.
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EBITDA guidance for 2024 was raised to $1.9 billion, driven by FPSO sales and strong project execution. Revenue grew 28% year-over-year, with a robust project pipeline and increased shareholder returns through buybacks.
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H1 2024 saw EBITDA rise nearly 40% to $620M and backlog hit a record $33.7B, driven by new FPSO awards and strong project execution. Guidance for 2024 EBITDA was raised to $1.3B, and the share buyback program doubled to EUR 130M, reflecting robust cash flow and outlook.