SOURCE: SBM Offshore N.V.

March 11, 2008 13:10 ET

FINAL RESULTS SBM OFFSHORE 2007

SCHIEDAM, NETHERLANDS--(Marketwire - March 11, 2008) -


Highlights

  * net profit of US$ 266.8 million, a 23.3% increase in comparison
    with 2006 (US$ 216.3 million);
  * net profit excluding non-recurring items increases by 28%;
  * earnings per share of US$ 1.85, (US$ 1.55 in 2006) and proposed
    dividend per share is US$ 0.93 versus US$ 0.77 in 2006;
  * turnover of US$ 2,871 million, a 44% increase in comparison with
    US$ 1,990 million in 2006, mainly from expanded turnkey sales and
    services activities;
  * total order portfolio at year-end US$ 7,955 million (US$ 6,992 at
    the end of 2006);
  * operating profit (EBIT) of US$ 302.0 million compared with US$
    254.3 million in 2006;
  * EBIT margin 10.5% compared to 12.8% in 2006;
  * EBITDA amounted to US$ 548.3 million, compared to US$ 477.5
    million in 2006;
  * two orders for jack-up production facilities on lease;
  * sale of 20% in the FPSO Capixaba to STAR, an affiliate of
    Brazilian strategic partner Queiroz Galvao (QGP);
  * delivery of two major lease projects, the FPSO Kikeh for Murphy
    Oil in Malaysia and the FPSO Mondo for ExxonMobil in Angola;
  * capital expenditure of US$ 551 million (US$ 309 million in 2006);
  * sale of airport infrastructure activities (NKI).

To see the complete pdf version of this press release, please click on the link below: http://hugin.info/130754/R/1200024/244993.pdf

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Contact Information

  • Contact person: Mr. Sebastiaan de Ronde Bresser

    Telephone: (+377) 92 05 85 15
    Mobile: (+33) 672 214 360
    Fax: (+377) 92 05 89 40
    E-mail: Email Contact
    Website: www.sbmoffshore.com