SOURCE: SBM Offshore N.V.

March 26, 2007 12:21 ET

FINAL RESULTS SBM OFFSHORE 2006 - ANOTHER RECORD YEAR

SCHIEDAM, NETHERLANDS -- (MARKET WIRE) -- March 26, 2007 --


Highlights

* net profit of US$ 216.3 million, versus US$ 225.8 million in 2005 (which included US$ 79.8 million exceptional gain on sale of FPSO Serpentina);
* net operational profit up by 40%;
* EBITDA of US$ 477.5 million compared to US$ 482.2 million in 2005;
* EBIT of US$ 254.3 million compared to US$ 275.3 million in 2005;
* EBIT margin 12.8% compared to 18.1% in 2005;
* new orders totalled US$ 4,916 million, compared to US$ 1,510 million in 2005;
* turnover up to US$ 1,990 million, compared to US$ 1,519 million in 2005 ;
* investment in fixed assets of US$ 309 million, compared to US$ 399 million in 2005;
* fourth execution centre opened in Kuala Lumpur;
* Extended Well Test system taken into operation in the Caspian Sea;
* FPSO Capixaba taken into operation offshore Brazil;
* excellent performance of the FPSO fleet generated substantial bonus revenues;
* new-generation deepwater installation vessel taken into operation;
* new fifteen year lease contracts from ExxonMobil for two FPSOs for Kizomba 'C', Angola;
* new fifteen year lease contract from Shell for an FPSO for Brazil;
* new contracts for leases for new production concepts in new geographical areas.

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information

  • Contact person:

    Mr. Hans Peereboom
    V.P. Investor Relations
    Telephone: (+377) 92 05 14 34
    Mobile: (+377) 6 80 86 52 58
    Fax: (+377) 92 05 89 40
    E-mail: Email Contact
    Website: www.sbmoffshore.com