FINAL RESULTS SBM OFFSHORE 2007


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).
Contact person: Mr. Sebastiaan de Ronde Bresser

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Attachments

SBM Offshore press release

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